SCRA’s SC Launch Invests in Columbia, SC-based Quintesocial
June 28, 2010
CHARLESTON, SC – June 24, 2010 – SCRA, a global leader in applied research and commercialization, announced that its affiliate, SC Launch, presented a $100,000 “big check” investment yesterday to Quintesocial. Quintesocial is an innovative social networking company that uses online tools to help its members find fun, interesting, and fulfilling activities based on their interests in the city in which they live. Unlike most large, online social networks, Quintesocial was created for adults who value an active social life and want to meet compatible people for fun, food and culture.
Quintesocial rolled out its first social network in Portland, Oregon, in March, and launched in Denver on June 1st. Additional launches throughout the country are in the works. “The SC Launch investment enables us to expand our technology platform into white label/privately branded opportunities as well as to expand our social network nationally,” said Quintesocial founder and Chief Executive Officer Barbara Iaquinto. Iaquinto is a graduate of the University of Illinois-Chicago with more than 20 years of entrepreneurial experience, including a joint venture between IBM and Motorola.
Quintesocial’s technology is licensed through the University of South Carolina. “Quintesocial is a great example of a knowledge-based company whose technology came from one of our South Carolina research universities. As part of the SC Launch mission, this is the kind of company we are proud to help grow,” said Dave McNamara, SC Launch Executive Director. McNamara was on hand to present the company with a “big check.”
Since the inception of the SC Launch Program four years ago, SC Launch has assisted, helped form and/or land more than 230 knowledge-based entities in South Carolina, providing both funding and services to over 178. The Program has attracted more than $120 million in add-on, private equity investment in South Carolina companies. SCRA operations have made a cumulative economic contribution of more than $13.7B to South Carolina.
About SCRA
SCRA is a global leader in applied research and commercialization services with its headquarters in South Carolina. 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
SC Launch, an SCRA program, 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.
