Early stage ventures create more than 250 new jobs, raise over $69 million in capital in 2015
April 7, 2016
From raising a remarkable $69.4 million in new capital to creating more than 250 new full-time jobs, the impact of innovation-based startups on the Upstate economy continues to grow rapidly.
A recently completed Economic Impact Survey shows the 161 companies supported by NEXT in Greenville and across the Upstate region created 253 new full-time jobs in South Carolina last year. With total full-time employment currently at 1,091, NEXT companies are now collectively one of the largest private employers in the Greenville/Upstate area.
In addition to the increased job creation, the payrolls of entrepreneurial ventures grew significantly in 2015 with the average salary reported at $75,329 – an impressive 171% above the Greenville County average.
Additional survey highlights:
- NEXT companies continue to attract significant investments, raising $69.4 million in new capital during 2015 alone.
- NEXT companies occupied more than 585,000 square feet of leased and owned real estate footage in the Upstate in 2015.
- The 253 direct new jobs created by NEXT companies in 2015 also generated an estimated 380 additional indirect jobs in related sectors such as construction, retail and services. This brings the total new jobs created by early-stage innovation-based companies to more than 633 in 2015.
“It is incredible to think about how far we’ve come since starting our network with only 8 companies in 2006,” says Michael Bolick, NEXT board chair and CEO of Selah Genomics. “These numbers show just what an impact our NEXT entrepreneurs are making on the South Carolina economy. Our growth proves our ecosystem’s maturation as one of the best places in the Southeast for launching a growing, knowledge-based company. We can’t wait to see what our companies will do in 2016 and beyond.”
“Fostering the state’s startups and innovative businesses was one of the drivers behind the South Carolina Innovation Challenge grant program,” said Secretary of Commerce Bobby Hitt. “We are pleased to support organizations in the state – like NEXT – that deliver impactful results and position our state as a hub of innovation. Congratulations to NEXT on the impact they’re having on the greater Greenville area.”
“By all accounts, 2015 was a banner year for NEXT and our portfolio of high-impact startups,” adds NEXT CEO John Moore. “I couldn’t be more proud of the impact this effort is having across the Upstate, and we look forward to continuing in our leadership role developing the entrepreneurial ecosystem and supporting the ventures in it. When companies are founded and flourish here, everyone wins—the founders, the employees, the investors and ultimately the community.”
For more information on NEXT, visit www.nextsc.org.
NEXT is an award-winning economic development organization dedicated exclusively to supporting high-impact entrepreneurs and building the entrepreneur ecosystem in the Greenville/Upstate region of South Carolina. Founded in 2006 as a part-time effort of the Greenville Chamber, NEXT now supports more than 160 early-stage knowledge-based ventures with a variety of entrepreneur support services and has championed the creation of numerous ecosystem elements including three co-location facilities, a Venture Mentoring Service in partnership with MIT, and the Upstate Carolina Angel Network which is recognized as one of the top ten angel networks in the U.S. For more information on NEXT, visit www.nextsc.org.
