SCRA Releases 2011 Annual Reports
February 28, 2012
Record Year for SCRA and SCRA Technology Ventures’ SC Launch Program
COLUMBIA, SC – February 28, 2012 – SCRA, an emerging global leader inapplied research and commercialization, today released two 2011 annualreports. The two annual reports outline the successes of both SCRA andSCRA Technology Ventures’ flagship SC Launch program.
The SCRA annual report summarizes the many accomplishments achievedthroughout 2011 for SCRA’s Technology Ventures, Applied R&D andR&D Facilities sectors, plus the cross-sector operations thatsupport the company, its clients and partners. In its 28 year history,SCRA has grown significantly, with record revenues of $195 millionachieved in 2011, up 13 percent from the prior Fiscal Year. Much of thegrowth has been attained during the past six years, with revenuesincreasing by over 160 percent throughout the timeframe. A recent USCMoore School economic output study measured SCRA’s contributions toSouth Carolina’s economy at $1.45 billion in 2011, with a cumulativetotal of over $14 billion in economic output in South Carolina since thecompany’s inception.
In 2011, the Applied R&D sector set a new record of over $1.5billion dollars in total contract value for all national andinternational programs competitively won and under management. SCRAprograms provide measurable cost savings to the federal government andsolve complex federal and corporate challenges with innovativesolutions. Three of the sector’s projects received industry-widerecognition for both cost efficiencies and outstanding support ofAmerica’s men and women in uniform at this year’s National DefenseManufacturing Conference.
The R&D Facilities sector opened the third of its Innovation Centersin 2011, helping the company complete each of its 34 legislativemandates under the SC Innovation Centers Act (2005) and SC IndustryPartners Act (2006). This sector manages all Research Parks andInnovation Centers, where high-tech companies are housed and bringinnovative technologies to the marketplace. Three Innovation Centers arelocated throughout the state and in partnership with each of SouthCarolina’s three research universities: the SCRA USC Innovation Centerin Columbia, the SCRA MUSC Innovation Center in Charleston and the DukeEnergy Innovation Center, a partnership with Clemson University, inAnderson. Two of the Innovation Centers have received awards forexcellence in architecture and construction.
The Technology Ventures sector continues to grow and strengthen SouthCarolina’s Knowledge Economy through support of high-tech, innovativestart-up companies in the state. Since its inception in 2006, thesector’s standout SC Launch program has provided early stage funding andcommercialization support to 251 enterprises, assisting 12 newcompanies in their relocation to the state and matching 36 federal SmallBusiness Innovative Research Phase I awards. These activities havehelped position the top 51 SC Launch companies to secure more than $167million in follow-on funding from angel, venture and other privatecapital sources. Based on a review of the SC Launch program, SCRA wasnamed the National Nonprofit Organization of the Year for 2011 by theAmerican Business Awards. Additionally, 48 SC Launch companies havereceived state and regional awards for outstanding inventions,innovative technologies and first-of-a-kind processes.
“Our annual reports outline the substantive outcomes our company hasdelivered throughout the past year,” said SCRA CEO Bill Mahoney. “SCRAcontinually fulfills our missions through delivering high-tech solutionsto our federal and corporate clients, thereby ensuring South Carolina’sKnowledge Economy gains strength. SC Launch companies are growing andmaturing, ultimately generating high returns and high-wage jobs for thestate. We thank our business, university, economic development andgovernment clients and for their commitment to our programs, and we lookforward to continuing to apply technology and grow our state’sKnowledge Economy.”
About SCRA
http://www.scra.org/
SCRA is an applied research corporation with over 28 years ofexperience delivering technology solutions with high returns oninvestment to federal and corporate clients. To fulfill our mission,SCRA has three sectors: Our Technology Ventures sector helps early-stagecompanies to commercialize innovations and create jobs, our AppliedR&D sector manages over 100 national and international programsworth over $1.5 billion in contract value and our R&D Facilitiessector builds and manages research facilities that include wet labs,secure rooms for sensitive work and advanced high-tech manufacturingshops.
