SCRA - Applied Research and Commercialization Services

SCRA Economic Output in SC: $14 Billion

SCRA advances South Carolina's Knowledge Economy by supporting early-stage entrepreneurial companies through its SC Launch program, conducting applied research and delivering technology solutions to federal and corporate clients and building and operating research parks and Innovation Centers.

A study completed in 2013 using the IMPLAN Model revealed that SCRA’s annual economic output in the state last year was $1.24 billion, and its cumulative economic output in South Carolina since its 1983 inception exceeds $15.3 billion. This study follows earlier studies conducted by the University of South Carolina Moore School Study by Dr. Doug Woodward.

SCRA, a non-stock, tax-exempt company was formed by the state of South Carolina with a one-time founding grant of $500K and 1,400 undeveloped acres, and with the public mission of fostering high-tech, knowledge economy development. We are pleased to report that SCRA has been able to produce impressive and sustained returns on that initial investment. Since the initial investment, SCRA has been self-funded, generating revenues by competing for and winning applied research and commercialization services contracts. SCRA does not receive, nor does it seek, annual tax appropriations from South Carolina.

Metrics of Success:

$212,000,000 in follow-on venture capital secured by SC Launch Portfolio Companies
SCRA's SC Launch program provides support for SC-based start-up companies in the form of seed funding, mentoring, business guidance, networking and commercialization services. SC Launch support positions early-stage companies to seek larger, industrial grade funding from angel and venture capital sources. A key measure of success for the program is its ability to follow-on venture capital in support of these companies is constantly growing as companies reach new milestones.
$55,000 - $77,000 is the average salary of jobs created by SC Launch and supported companies
Economic impact studies reveal that SCRA has helped create over 1,500 high-wage earning jobs. The jobs created within the state through SC Launch and the companies it supports is more than double the state average. High wage-earning jobs help retain the top talent coming out of our research universities.
Over 280 entities have received SC Launch support and funding
SC Launch provides services and support to help turn innovative ideas into companies, products and jobs that improve people's lives. SC Launch provides grants or investments to qualified South Carolina-based start-up companies and helps companies qualify for follow-on funding from other sources.

13 landing parties brought to the state from other states and countries
In addition to growing new companies within the state, SCRA plays a key role in attracting landing parties – established companies that choose to relocate here based on business and lifestyle benefits available in the state. Lab 21 is one example. Lab21 merged with SC Launch client, Selah Technologies and located its U.S. headquarters in South Carolina. The company established new and exciting employment opportunties in the Upstate. The merger represents the successful fulfillment of SC Launch's ongoing efforts to support both the formation and relocation of knowledge-based companies into South Carolina.

3 Innovation Centers developed to commercialize research discoveries
SCRA Innovation Centers accelerate business development and commercialization of research discoveries. Wet labs and world-class manufacturing facilities are essential to establishing new knowledge-based companies and attracting landing parties. SCRA's Innovation Centers answer this need in South Carolina. Locations include the SCRA MUSC Innovation Center in Charleston, the SCRA USC Innovation Center in Columbia and the Duke Energy Innovation Center in Anderson.

2 Navy Centers of Excellence headquartered in South Carolina
SCRA leads two Navy Centers of Excellence, one in composites and one in shipbuilding. These Centers help advance South Carolina’s role as a leader in Defense-related applied research and deliver technology solutions with broad-industry involvement and implementation. Applied research performed within an SCRA-led Navy Center of Excellence has saved over $20M in total "per hull" costs across several US Navy platforms.

National and International Recognition
SCRA's Bill Mahoney received the Gold Stevie from the American Business Awards (ABA) as 2012 Executive of the Year for Non-Profit Organization. Based on a review of the SC Launch program, SCRA was recognized as the Nonprofit of the Year for 2011 by the ABA for leadership in collaborative, entrepreneurial economic development. SCRA was selected in 2012 by the International Economic Development Council (IEDC) as a Gold Award recipient based the 3 Innovation Centers within the state for Real Estate Redevelopment and Reuse in the population greater than 500,000 category. SCRA also received an award for Regionalism and Cross-Border Collaboration from the IEDC in 2010 for innovative approaches to fostering, governing, and sustaining regional and cross-border collaborations in the areas of business retention and expansion. IEDC also recognized the SC Launch program based upon a review of the 2008 SC Launch Annual Report. SCRA has also been recognized for excellence in economic development from the State Science and Technology Institute (SSTI), the Southern Growth Policies Council and Forbes.