SCRA Technology Ventures Presents Big Checks

CHARLESTON, SC – SCRA Technology Ventures’ SC Launch program presented big checks to Charleston-area companies MOONDOG Animation and PharmRight at the Silicon Harbor Shindig networking event Friday. The big check ceremony formally honors and congratulates companies on their investment closings. PharmRight received investment approval in May and MOONDOG in August.

MOONDOG Animation is a CGI animation studio that creates, fabricates and distributes top-quality computer generated animation through a proprietary technology. The company is starting development of their first feature film, which will bring over 150 highly technical jobs to South Carolina and be distributed worldwide. They are partnering with Clemson University’s Digital Production Arts program to hire recent graduates.

PharmRight is a healthcare technology company that provides products and services that maximize medication adherence for patients who are managing a complex regimen of pharmaceuticals and supplements. Founded in 2013, PharmRight developed Livi^TM – a fully automated home medication dispenser. The company’s software suite and cloud computing applications monitor and report medication compliance to caregivers via the web and on mobile devices.

“We are delighted to recognize these emerging companies and the technologies they are bringing to market,” said SCRA CEO Bill Mahoney. “We look forward to the valuable contributions that these Lowcountry companies will make to South Carolina’s Knowledge Economy.”

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 $81 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.

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.