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.
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.