Technology Ventures’ flagship SC Launch program grows new technology companies in South Carolina and attracts existing companies to the state, advancing the Knowledge Economy.
How it Works
SC Launch invests its net revenues and an annual $6 million from the Industry Partnership Fund into qualified, South Carolina-based technology companies.
Companies that are admitted into the SC Launch program are commonly called “Client Companies” and they included in the following industry clusters: Advanced Materials, Chemical and Engineering Process, Defense, Energy, Information Technology, Life Sciences and Transportation. These Client Companies receive mentoring, support services, access to our “Resource Partner Network” and may be eligible for non-return based funding (NRBF) to include: federal grant matching (SBIR/STTR), University Start-up Assistant Program (USAP) grants, Project Development Funds (PDF), Demonstration Projects and Landing Party Grants.
To be considered for an investment, Client Companies go through an extensive due diligence process and must appear before the SC Launch Board of Directors for approval. The SC Launch team meets once a month to review Client Company applications. Companies receiving an SC Launch investment become “Portfolio Companies” and often receive additional capital from private venture groups.
SC Launch companies must reside in South Carolina, and the program may assist more established technology companies in their relocation to the state. Some SC Launch companies take advantage of SCRA-operated Innovation Centers throughout the state that offer state-of-the-art lab space and areas for collaborative research.
SC Launch 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 at 50% of the government award up to $50,000 per company or as designated in the current fiscal year matching grant program solicitation linked below. 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. Solicitation | Application
The University Startup Assistance Program (USAP) encourages commercialization of research and technology developed in universities. They are limited to $25,000 (cumulative) per company. The client company must be sponsored and provide a Letter of Support from one of the following SC research universities' Technology Transfer organizations: MUSC, Clemson or USC. Application
SC Launch provides community-based, early-stage development funding to qualified client companies. PDF grants are usually within $12,500 to $25,000 (cumulative) per company
|DEMONSTRATION PROJECTS||Demonstration Projects must be individually approved by the SC Launch Team|
|LANDING PARTY GRANTS||Landing Party Grants must be individually approved by the SC Launch Team|