SC Launch Program Recognized by Forbes Magazine as a Top Five Program in the Nation
July 7, 2010
CHARLESTON, SC -July 7, 2010 – SC Launch, an SCRA collaboration, wasrecently recognized by Forbes magazine in May as one of five topprograms in the nation that support entrepreneurism. The States thatTruly Bet on Small Business also recognized the SC Launch program asone of eleven Serious State Small Biz Programs.
The SC Launch program has garnered a number of awards and recognitionsince its 2006 inception. The program offers qualifying companiescommercialization support, guidance, and seed funding.
As a joint venture between SCRA and the research foundations of theMedical University of South Carolina, the University of South Carolina,and Clemson University, SC Launch’s mission is to support thecommercialization of research, to finance start-up and spin-outcompanies, and to provide formation support and other business servicesto companies as prescribed by the mandates in the SC Innovation CentersAct and the SC Industry Partners Act. The program’s ultimate objectiveis to help develop South Carolina’s growing Knowledge Economy.
The Forbes list was prepared with the assistance of CB Insights, aManhattan firm that tracks private-company funding trends, includingventure capital, private equity, and government-supported deals.
According to Anand Sanwal, a CB Insights founding partner, Theseprograms take different forms but generally represent a great way tospur local economic development and bring and retain high-tech jobs tothe area. Over time, their efforts will likely attract angel and ventureinvestment which serves to strengthen their area’s entrepreneurialecosystem further.
Since the start of the SC Launch Program four years ago, SC Launch hasassisted, helped form and/or land more than 230 knowledge-based entitiesin South Carolina, providing both funding and services to more than178. The Program has attracted more than $104 million in add-on, privateequity investment in South Carolina companies. SC Launch is one of over100 programs in SCRA’s overall operations, which have made a cumulativeeconomic contribution of more than $13.7B to South Carolina since 1983.
The SC Launch program was formed to help move promising technologiesinto the market place, and to advance technology-based companies inSouth Carolina, said SCRA CEO Bill Mahoney. We have enjoyed partneringwith some of South Carolina’s best talent to bring tangible growth toour Knowledge Economy. Our portfolio companies continue to both improveour lives and expand our knowledge-based economy through theirinnovations, their growth of high-quality jobs, and private investment.We are humbled to accept recognition on behalf of these efforts.
Added SC Launch Executive Director Dave McNamara, We are honored to belisted among such other successful programs throughout the nation. TheSC Launch team works to be a catalyst and advocate for developingtechnology start-up companies in our state. In four short years, we havebeen able to achieve many successes, and we look forward to thecontinued growth of the SC Launch program and its legacy for SouthCarolina.
About SCRA
SCRA is a global leader in applied research and commercialization serviceswith its headquarters in South Carolina. SCRA collaborates to advancetechnology, providing technology-based solutions with assured outcomesto industry and government, with the help of research universities inSC, the US and around the world.
About SC Launch
SC Launch, anSCRA collaboration, assists entrepreneurial start-up companies withup-front counseling, seed-funding, and access to a powerful resourcenetwork. The SC Launch mission is to help generate knowledge economyjobs in South Carolina, enhance the state’s quality of life and provideopportunity for all South Carolinians in the new economy.
