Groundbreaking Ceremony for SCRA USC Innovation Center, Columbia

COLUMBIA, SC – February 12th, 2010 – SCRA, the University of South Carolina (USC) and the City of Columbia held a groundbreaking ceremony for the SCRA USC Innovation Center, Columbia, at 1000 Catawba Street.  Slated to open its doors this June, the fully-renovated facility will house knowledge-based companies emerging from research at the University of South Carolina and the general marketplace which are entering commercialization and advanced manufacturing stages. The facility is situated and designed to stimulate and sustain clean, next-generation manufacturing, along with related development and support services.

The SCRA USC Innovation Center is the second of three world-class facilities that SCRA is providing in conjunction with its university and civic partners in South Carolina to grow the Knowledge Economy.  With these Centers, SCRA is fulfilling legislative mandates identified in the Innovation Centers Act focused on the commercialization of new knowledge-based discoveries. Since SCRA is self-supporting, the facilities are being funded through SCRA’s retained earnings and balance sheet, and no South Carolina state taxpayer monies are being used to provide the facilities.

This is a great step forward for Columbia entering the knowledge economy, said City of Columbia Mayor Bob Coble.

This is an exciting day for the University of South Carolina, our community, and our state, said Dr. Harris Pastides, president of the University of South Carolina.

With the addition of this USC/SCRA Innovation Center, we are achieving part of our Innovista vision – that of nurturing the research and the creative ideas that come out of the university into commercialization and small-company growth.  We are thrilled to be participating in an environment where innovation, entrepreneurship, and job creation all flourish due to the support of a major university, business leaders and the legislature.

The innovation center is a major part of the Innovista vision for a vibrant, knowledge-based community.  I look forward to the day when talented entrepreneurs who have the drive to build their businesses and create good jobs in the Midlands will fill the center with creative ideas and innovative products, said Don Herriott, director of Innovista Partnerships.  Today is an important milestone and a tribute to SCRA and to the leaders in the General Assembly who crafted and supported the Innovation Centers Act.  

We’re excited to be here at the Groundbreaking today as the first tenant of the SCRA USC Innovation Center, said Frank Mobley, CEO of Immedion. Locating our second data center in the Innovation Center will better enable us to provide services to businesses in the Midlands as well as throughout the state of South Carolina.  In addition, the provisioning of a second, geographically diverse location will allow Immedion to provide uptime for critical technology beyond the capabilities of any single data center location.

Our partnership with USC and The City of Columbia is a prime example of effective collaboration that fosters the Knowledge Economy in South Carolina, said Bill Mahoney, SCRA CEO. SCRA is dedicated to investing both our capital and our applied research and commercialization know-how to deliver an infrastructure that will support the creation of high-paying, knowledge economy jobs.

Wachovia is providing financing for the SCRA USC Innovation Center. The architectural and engineering design for the new facility was provided by the Garvin Design Group, while Mashburn Construction serves as the general contractor for the building restoration.

Mahoney said the property is in a key location for an innovation center that will provide easy access, visibility and economic opportunity for the citizens of Columbia. This facility will be a technology-based cornerstone to serve start-up companies with intellectual property coming out of USC as well as the private sector. he said.

Through its SCLaunch program, SCRA has provided both funding and support to 149 knowledge-based start-up entities in South Carolina since the program’s inception in April, 2006. SC Launch Portfolio companies have secured more than $71 million in follow-on, private capital.

Rewarding Knowledge Economy in South Carolina
Also at today’s event, Bill Mahoney presented an SCRA Knowledge Economist award to Jim Gambrell-Director of Economic Development, City of Columbia, Lee Bussell-CEO of Chernoff Newman and John Lumpkin, former principal at Edens & Avant and long-time champion of high-tech economic development.

The SCRA Knowledge Economist Award Program recognizes outstanding citizens who have made significant contributions to South Carolina’s Knowledge Economy where the value of the mind shapes the successful profile of progress and great prospects for the future, said Mahoney.

For more information about the SCRA Knowledge Economist Award Program and a list of persons who have been recognized as a South Carolina Knowledge Economist, please click on this link: http://sclaunch.org/knowledge_economy_awards.shtml

SCRA USC Innovation Center at Columbia – Statistics
Renovations began in October 2009; opening Summer, 2010
74,000 sq. ft. facility located in USC’s Innovista
65,000 sq. ft. of open space
8,000 sq. ft. of office space
Ample space for 10-15 High Tech Light Manufacturing Start-ups
$5.6M Investment
6-9 Months to renovate once acquired
For more information, please call: John Gregg at 803-343-5310

1000 Catawba Street, Columbia, SC
The SCRA USC Innovation Center at Columbia is ideally located for knowledge-based business and advanced manufacturing companies. The location provides easy access to the Columbia Statehouse, airport and University of South Carolina. The building is adjacent to the USC Engineering School and is also within walking distance of Innovista.

About SCRA (http://www.scra.org)
SCRA is a global leader in applied research and commercialization services with offices in South Carolina, Ohio and in McLean, Virginia. SCRA collaborates to advance technology, providing technology-based solutions with assured outcomes to industry and government, with the help of research universities in SC, the US and around the world.

About SC Launch (http://www.sclaunch.org)
SC Launch, an SCRA collaboration, assists entrepreneurial start-up companies with up-front counseling, seed-funding, and access to a powerful resource network. The SC Launch mission is to help generate knowledge economy jobs in South Carolina, enhance the state’s quality of life and provide opportunity for all South Carolinians in the new economy.  For more information please visit www.sclaunch.org.

About The University of South Carolina
For two centuries, the University of South Carolina’s scholarship, research and outreach efforts have contributed to the greater good of society. With 39,000 students on eight campuses and more than 350 degree programs—including law, engineering, public health and medicine—and 240,000 alumni, the University is improving the lives of individuals in South Carolina and around the world. South Carolina has received the highest research designation awarded by the Carnegie Foundation, and the University’s undergraduate international business
program is ranked best in the nation in U.S. News & World Report.

About the City of Columbia
The City of Columbia is committed to the advancement of entrepreneurship based on new technologies generated through research and development, and subsequent technology transfer into successful enterprise operations. The Acceleration Lab is a critical link in the system that supports this effort and the City of Columbia was excited to play a part in making it a reality.