Types of Support
Through the SC Launch program, SCRA provides several funding opportunities to qualified companies who have been accepted into the program and aligned with the following industries: Advanced Materials/Manufacturing; Life Sciences; and Information Technology.
By bridging the gap from start-up financing to later-stage investments, SCRA's entrepreneurial program strengthens South Carolina’s Innovation Economy, thereby creating high wage-earning jobs.
SC Launch provides investments to qualified, board-approved companies. Companies must go through a rigorous due-diligence process and, if selected, must present to the SC Launch Board. Investment terms are dependent on each company, and matching raises or other conditions may exist in order to receive investment funding.
SCRA awards matching funds to client companies that have been granted federal Small Business Innovation Research (SBIR) Awards or Small Business Tech Transfer (STTR) Phase I Awards. These grants are matched one to one with the agency award amount, up to $50,000 per company. A company can only receive one matching grant per solicitation year, and each company is limited to two SBIR Matching Grants in the company's lifetime.
These matching grants are highly competitive, and only reviewed twice a year. Here are very important dates to remember:
Application Submission Closing Dates:
February 7, 2018
August 8, 2018
Closing Time: 5:00 pm EST.
February 20-21, 2018
August 22-23, 2018
All eligible companies that have submitted a completed grant application will be invited to present to the Review Team.
The Academic Start-up Assistance Program (ASAP) is available to for-profit companies that are advancing academic technologies and/or intellectual property. This program provides up to $25,000 in cumulative funding per company to develop technology and further research efforts. The company’s application must be submitted by an academic institution, including a letter of support from the academic institution.
These grants are intended for South Carolina-based, for-profit, technology companies that are progressing well in early-stage development. A company may request a one-time award of up to $50,000.
Project Development Fund Grants
SCRA provides community-based, early-stage development funding to qualified client companies. Project Development Fund (PDF) grants are typically between $12,500 to $25,000 (cumulative) per company.
A demonstration grant supports a matching monetary or in-kind investment by a corporate entity into a demonstration project at a small business, early-stage company or an academic institution. A successful demonstration project will provide a valuable solution to the corporate partner and a significant growth opportunity for the smaller company or academic partner by developing a new product, distribution channel, customer or research.
SCRA and the SC Launch program assist more established technology companies in their relocation to the state. Relocation assistance is approved on a case-by-case basis.