Rapid Application of New Technologies
SCRA Economic Output
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 2011 using the Massachusetts Institute of Technology REMI Model revealed that SCRA’s cumulative economic output in South Carolina since its 1983 inception exceeds $14 billion. This study follows earlier studies conducted by the University of South Carolina Moore School Study by Dr. Doug Woodward. A 2008 study discovered that SCRA’s annual output was $1.4 billion. The 2011 study revealed that SCRA's annual economic output in the state had risen to $1.45 billion. SCRA’s total cumulative economic output in the state of South Carolina now exceeds $14 billion.
Metrics of Success:
$167,000,000 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.
$20,000,000 National Science Foundation grant brought to South Carolina through EPSCoR SCRA acts as the fiscal agent for South Carolina’s EPSCoR Program, which is designed to increase the state’s university competitiveness in attracting national research grants. A recent $20M grant – the largest of its kind in the history of the state – represents the successful fulfillment of this goal. This five-year award combines world class science with expertise in such important endeavors as medicine, engineering, computer science, mathematics and journalism.
$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.