SCRA Garners $4,000,000 in Industry Partnership Fund Contributions on Behalf of SC Launch!

December 18, 2007

COLUMBIA, SC – December 18, 2007 – SCRA , on behalf of its affiliate, SC Launch!, has garnered $4 million toward the Industry Partnership Fund, which
will help fuel the Knowledge Economy through strategic investments in technology start-ups within the state.

The $4 million figure represents the maximum amount of tax-creditable donations for calendar year 2007 allowed by the 2006 Industry Partners Act, which went into effect in July, 2006. Businesses and Individuals who contributed to the fund received tax credits toward their South Carolina income tax for 100 percent of the donated amount. Eight corporations contributed to the Industry Partnership Fund, with Progress Energy allocating the largest amount at $650,000. About 100 individuals throughout South Carolina also contributed to the Fund in calendar year 2007, up from 16 in 2006.

SCRA utilizes the funds to accelerate entrepreneurial growth of technology start-ups that are creating high-paying jobs and building equity in the future
for all South Carolina. SCRA support of the SC Launch! program supplies high-potential entrepreneurs and researchers with key tools for success, a mix of
mentoring and seed money of up to $200,000. The SC Launch! program also provides matching grants of up to $100,000 for companies awarded SBIR/STTR
Phase I awards. Additional SC Launch! programs include grants for pre-company and university start-up initiatives, landing parties and demonstration

“The initial success of the Industry Partnership Fund symbolizes the commitment of insightful legislators, businesses and individuals in South Carolina to drive growth in the Knowledge Economy,” said SCRA CEO Bill Mahoney. “Our business, economic and political leaders in this state understand the need to build a competitive Knowledge Economy that invigorates South Carolina business. This support provides the foundation for South Carolina’s future success.”

SC Launch!, a private nonprofit SCRA affiliate has, since its April, 2006 inception, provided 34 companies with seed funding in the form of grants, loans or equity investments and provided counsel and support to more than 60 start-ups. The average salary of jobs created to date by these start-ups is $77,000. Additionally, SC Launch!-supported companies have to date secured more than $30 million in follow-on venture capital and private equity financing.

Funds contributed to the Industry Partnership Fund are combined with the $12 million from SCRA’s strategic cash reserves committed through SCRA’S execution of the Innovation Centers Act.  SC Launch! was created by SCRA to effect this legislation. SC Launch! is an unprecedented collaboration with the research foundations of Clemson University, the Medical University of South Carolina and the University of South Carolina to advance the commercialization of research and technology.

In calendar year 2008, and for calendar years thereafter, the individual donation limit eligible for tax credit is $2 million, and the total maximum in
tax creditable donations allowed is $6 million. Inquiries concerning 2008 donations are already being received, according to Dave McNamara, SCRA Senior
Vice President and SC Launch! Program Executive. The intent of the Industry Partnership Fund is to sustain Knowledge Economy development beyond 2008, when SCRA’s cash reserves are fully deployed.

“With such enthusiastic response in 2006 and 2007, we are preparing for successfully soliciting $6 million for the 2008 Industry Partnership Fund drive,” McNamara said. “Tax dollars eligible for designation to the Industry Partnership Fund are being accepted on a first-come, first-accepted basis, so
we encourage early commitments by individuals and corporations. These donated funds are important for all South Carolinians because they help create new
technology businesses, higher paying jobs and a stronger knowledge economy.”

About SC Launch (

SC Launch!, an SCRA affiliate, 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.

About SCRA (

SCRA is a global leader in applied research and commercialization services with offices in Anderson, Charleston, and Columbia.  SCRA collaborates to
advance technology with industry, government, and research universities like Clemson University, the University of South Carolina and the Medical
University of South Carolina.

SC Launch! ™ is a trademark of SC Launch!, Inc. SCRA® is a registered trademark of SCRA.