SCRA Technology Ventures Awards USAP Funding
October 9, 2014
Recovr to Receive Grant for Rehabilitation Software
COLUMBIA, SC – SCRA Technology Ventures’ SC Launch program today announced that Recovr, Inc. will receive a University Start-Up Assistance Program (USAP) investment. Recovr researches, develops and distributes virtual therapy solutions to improve the daily lives of people with disabilities.
The company, based in Clemson and currently enrolled in the Iron Yard’s digital health accelerator, is working to launch new rehabilitation system software based on a Clemson University technology. Recovr’s first product, “Duck Duck Punch,” is an award-winning, 3D game system for post-stroke, arm movement rehabilitation. The product was the result of a collaborative project between Clemson University and the Medical University of South Carolina.
“We are pleased to support Recovr as they deploy new, meaningful technologies,” said SCRA CEO Bill Mahoney. “South Carolina consistently has one of the highest stroke occurrence levels in the U.S. each year. Recovr’s technology will not only bring new technology-based jobs to our state, but will offer a rehabilitation resource to South Carolinians who have suffered from strokes. We are delighted to support the efforts of this South Carolina company, who is helping to grow our Knowledge Economy.”
ABOUT SCRA TECHNOLOGY VENTURES
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 to early stage, start-up technology companies through its flagship SC Launch program. Since 2006, SCRA has deployed over $82 million in funding for entrepreneurs and infrastructure to support over 290 high-tech, early-stage enterprises. SCRA has directly invested over $19 million into the program’s top 71 South Carolina start-ups, attracting over $301 million in add-on, private investment. The sector 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. Learn more at scra.org. Follow us on Twitter at @SCRAInnovation.
