Welch was raised in Chester County, Pennsylvania, where he still resides in the borough of Malvern. Welch, a former Democrat, graduated from Unionville High School and earned an engineering degree from Penn State University.
In 2013 Welch sold KinderTown to Demme Learning.
Forbes ranked DreamIt Ventures the number 3 accelerator in the world.
In 2015 Welch and friend, Jim Donnelly, co-founded Restore Cryotherapy  to provide whole body cryotherapy, IV infusion and compression therapy directly to the consumer in retail outlets. In 2015 they opened locations in Austin, TX and Charlotte, NC but were planning to open more stores in 2016.
Since moving to Austin, TX in 2013 Steve has become known for his volunteer work in early childhood education. Steve has helped build the Steiner Ranch Math Pentathlon program and led several Destination Imagination teams to States and Global finals,.
While Steve is known for his work in early childhood education he also worked with children's hospitals including Children Hospital of Philadelphia to help these organizations innovate more quickly to provide the life saving products and services to the pediatric market.
- Brennan, Kevin (24 April 2012). "Smith Wins Pennsylvania Senate GOP Primary". National Journal. Archived from the original on 27 April 2012. Retrieved 25 April 2012.
- "Welch for Senate" The Philadelphia Inquirer April 8, 2012
- "Welch for the GOP: The endorsed Senate candidate is best of the bunch" Pittsburgh Post Gazette April 17, 2012
- "About Steve". Steve Welch for Senate. Retrieved April 20, 2012.
- Eric S. Smith (April 16, 2012). "Chester County businessman running for Senate". Daily Local News.
- Cynthia Burton (April 8, 2012). "Welch for Senate". The Philadelphia Inquirer.
- Forbes April 30, 2012
- Philadelphia Inquirer March 19, 2018 http://www.philly.com/philly/blogs/inq-phillydeals/philly-tech-angel-dreamit-jeff-vinik-expands-florida-20180319.html
- Community Impact June 18, 2014 https://communityimpact.com/austin/news/2014/06/18/steiner-ranch-elementary-math-team-wins-state-championship-2/
- March 4, 2018 Four Points News http://www.fourpointsnews.com/2018/03/07/march-07-2018-issue/
- April 19, 2017 Four Points News http://www.fourpointsnews.com/2017/04/19/three-sre-teams-advance-di-globals/
- Technically February 2, 2014 https://technical.ly/philly/2014/02/21/dreamit-ventures-childrens-hospital-philadelphia/