I grew up there as well, and moved away and started my own company. Kudos to the team of people trying to get a startup environment off the ground, but I would temper anyone's expectations of this having much long-term value.

As 2mur explains, it's a great place to grow up and awesome for families. That said, there are significant issues with the area that ruined any chance of me starting my company in St. Louis. Beyond the in-your-face social issues, there is an insularity to St. Louis. Outsiders generally are viewed quite skeptically, and trying to recruit to St. Louis was a significant non-starter for me.

This isn't intended to bag on St. Louis, but it's just not a fit as a technology hub. Compared to Seattle, the Bay area, Boston, Research Triangle, etc. the difference couldn't possibly be overstated.