| CHARLESTON, SC – May 6, 2014 – SCRA Technology Ventures today announced the acceptance of three new companies into the SC Launch Program. Go Where I Go, International BioMedical Devices and VesselTek, all of Charleston, S.C., became client companies in April.Go Where I Go (GWIG) is a responsive social media application for smart phone users and small business owners. The application enables users to refer friends to their favorite businesses, 50 million which have been pre-loaded onto the application using Google Places, and provides businesses with analytics on their referrals. The company is launching beta tests in Charleston and Memphis this month and will appear on the popular investor show Shark Tank, scheduled to air in spring 2015.International BioMedical Devices (IBMD) is a medical device company focused in the field of ophthalmic surgery. IBMD, a collaboration between an Israeli partner and an ophthalmic surgeon, developed a novel precision capsulotomy system for use in cataract surgery. Their trademarked ApertureRx System allows the surgeon to perform a precisely sized and consistently centered incision into the crystalline lens of the eye with every cataract surgery procedure. They plan to manufacture the specialized tip in South Carolina, and their technology is exclusively licensed from the Israeli inventor.Vesseltek is commercializing a prosthetic vascular graft that utilizes a patented coating which dramatically reduces restenosis, a narrowing of the blood vessels. Vascular grafts used in below the knee applications fail at a rate of about 70 percent, due to clotting and chronic swelling, and Vesseltek’s antioxidant coating addresses both of these issues. The company currently holds five patents with three additional patents pending.
“We are delighted to welcome these companies,” said SC Launch Executive Director Greg Hillman. “As part of our mission to lead the Knowledge Economy in South Carolina, we look forward to working with these promising companies and the contributions that will bring to our state.”
About SCRA and SCRA Technology Ventures
http://www.scra.org/
SCRA Technology Ventures helps innovative companies grow and develop new technologies, creating jobs and advancing the Knowledge Economy throughout South Carolina. This SCRA business sector provides support and mentoring through its flagship SC Launch program to early stage, start-up technology companies. Since 2006, SCRA has deployed over $79 million in funding and infrastructure to support over 280 high-tech, early-stage enterprises and has directly invested over $18 million in South Carolina start-ups, attracting over $260 million in private investment. SCRA Technology Ventures also supports commercialization and growth by facilitating the transfer of intellectual property and accelerating the transition of inventions to the marketplace. Additionally, SCRA Technology Ventures invests in more established technology companies through its Stage 2 affiliate.
Multiple economic impact studies show SCRA’s cumulative output on South Carolina’s economy to be over $16.6 billion, and that the company has helped create approximately 15,000 technology-related jobs in the state, with annual wages averaging between $55,000 and $77,000. |
