Staff Report
Published July 7, 2010
SC Launch, an SCRA collaboration, was recognized by Forbes magazine in May as one of five top programs in the nation that support entrepreneurialism. The States that Truly Bet on Small Business article also recognized SC Launch among its “11 Serious State Small Biz Funding Programs.”
SC Launch has garnered several awards and recognitions since its 2006 inception. It is a joint venture between SCRA and the research foundations of the Medical University of South Carolina, the University of South Carolina and Clemson University.
The program’s mission is to support the commercialization of research, to finance startup and spin-off companies, and to provide formation support and other business services to companies as prescribed by the mandates in the SC Innovation Centers Act and the SC Industry Partners Act.
The Forbes list was prepared with CB Insights, a Manhattan firm that tracks private-company funding trends, including venture capital, private equity and government-supported deals.
“These programs take different forms but generally represent a great way to spur local economic development and bring and retain high-tech jobs to the area,” said Anand Sanwal, a founding partner of CB Insights. “Over time, their efforts will likely attract angel and venture investment which serves to strengthen their area’s entrepreneurial ecosystem further.”
Since the start of SC Launch four years ago, the program has assisted and helped form or land more than 230 knowledge-based entities in South Carolina, providing funding and services to more than 178 entities. The program has attracted more than $104 million in add-on, private equity investment in S.C. companies.
“We are honored to be listed among such other successful programs throughout the nation,” said Dave McNamara, executive director of SC Launch. “The SC Launch team works to be a catalyst and advocate for developing technology startup companies in our state. In four short years, we have been able to achieve many successes, and we look forward to the continued growth of the SC Launch program and its legacy for South Carolina.”
