SCRA Announces Economic Development Milestone
Over $100 Million Deployed Since 2006 to Support S.C.'s Knowledge Economy
Summerville, SC - SCRA today announced that since 2006 the Company has now deployed over $100 million in funding and infrastructure to help develop South Carolina's Knowledge Economy. Nearly $49 million of the investments are from SCRA Applied R&D and R&D Facilities Sectors, with approximately $51 million from SCRA Technology Ventures' Emerging Technologies, SC Launch and Stage 2 Programs.
"We are delighted to have reached this significant milestone as we continue to be the lead catalyst for developing our state's technology-based economy," said SCRA CEO Bill Mahoney. "SCRA offers unique opportunities for innovation in South Carolina through: research commercialization, high-tech start-up support, available lab and office space and direct investments in technology-based companies. We are pleased that these investments are making a substantial impact throughout the state".
SCRA Applied R&D manages portfolios of R&D projects and develops technology for real-world applications. SCRA R&D Facilities provide state-of-the-art wet labs, offices and advanced manufacturing facilities that are critical for technology-based companies.
SCRA Technology Ventures' programs sustain technology-based development in South Carolina. The programs support entrepreneurs, assist start-up companies and commercialize research through mentoring, grant matching and investments.
SCRA is a self-sustaining non-profit Applied R&D company that grows the technology-based economy in South Carolina by commercializing intellectual property and supporting and making investments in early-stage companies. Multiple economic impact studies show our cumulative output into South Carolina's economy to be over $18.1 billion since 1983, creating approximately 15,000 technology-related jobs with annual wages averaging between $55,000 and $79,000.