SC Launch Releases 2010 Annual Report
Recognized by Forbes Magazine as a Top Entrepreneurial Support Company
Charleston, SC - March 23, 2011 - SC Launch, an SCRA affiliate, today announced the release of its 2010 Annual Report. The Report details the many successes of the program in growing and strengthening South Carolina’s Knowledge Economy through support of new entrepreneurial companies in the South Carolina. SC Launch focuses on the development of start-up, technology-based companies in the state.
Since its formation in 2006, SC Launch has produced an impressive slate of outcomes including: supporting and funding 188 companies, drawing 10 landing parties to the state and providing business services to 230 early stage companies through a powerful Resource Network. These activities have helped position SC Launch companies to secure more than $104 million in follow-on funding from angel, venture and other private capital sources.
SCRA Director and SC Launch Director of Operations Marty Ettlemyer said, “SC Launch has the opportunity to work with some of the best and brightest researchers and entrepreneurs in South Carolina. We are delighted to see these start-up companies continue to grow and find success. The continued success of these companies offers quality jobs for South Carolinians and moves the best technologies into the market.”
SC Launch has seen an increasing number of successful realizations, which collectively are generating attractive rates of return for the Launch program. All returns from investments are reinvested in entrepreneurial companies, enhancing SC Launch’s continued mission of growing South Carolina’s Knowledge Economy. The latest successful realization resulted from SC Launch’s investment in Ometric Corporation, which was recently acquired by Halliburton.
The creation of three new SCRA-funded Innovation Centers augments the SC Launch program’s efforts by providing homes for early-stage companies. Wet labs and world-class commercialization facilities are essential to establishing new knowledge-based companies and attracting landing parties. SCRA recently opened its third Innovation Center, in partnership with Duke Energy and Clemson University.
“The results documented in this report represent refreshing good news for South Carolina’s future,” said SCRA CEO Bill Mahoney. “With the continued support of the Industry Partnership Fund, the commitment of business leaders to the promotion of an ecosystem of entrepreneurialism, the innovations of our research universities and the creation of three new SCRA Innovation Centers, our results and re-investment in the most promising companies in the state will continue to grow and add to the Knowledge Economy.”
About SCRA and SC Launch
SCRA is an applied research corporation with over 29 years of experience delivering technology solutions with high returns on investment to federal and corporate clients. To fulfill our mission, SCRA has three sectors: Our Technology Ventures sector helps early-stage companies to commercialize innovations and create jobs, our Applied R&D sector manages over 100 national and international programs worth over $1.5 billion in contract value and our R&D Facilities sector builds and manages research facilities that include wet labs, secure rooms for sensitive work and advanced high-tech manufacturing shops.