In 2006, SCRA formed SC Launch, Inc. pursuant to South Carolina Code §13-17-87 and §13-17-88 to facilitate applied research, product development and commercialization programs and strengthen South Carolina’s knowledge economy to create high paying jobs.
SC Launch, Inc. is an independent nonprofit 501(c)(3) corporation affiliated with SCRA and the SC Launch program to make seed investments which anticipate financial returns. These investments are normally in the form of equity, loans, and convertible loans.
SC Launch, Inc. is staffed by SCRA employees who work with SCRA Member Companies guiding them to the point of becoming investible. Once they become investible, they enter a due diligence process and begin working towards the goal of presenting to the SC Launch, Inc. board of directors for investment. Once Member Companies receive an investment, they become an SC Launch, Inc. Portfolio Company.
Continued success of the program has led to an increasing number of applicants. Many Portfolio Companies have matured in their life cycle and have started to realize a return on the SC Launch, Inc. investment. Thanks in part to their participation in the program, several have secured large follow-on funding from venture and angel investors. While each company’s progression through the process is different, the criteria for support are strict, documented, and consistently applied.
Some SC Launch, Inc. Portfolio Companies take advantage of SCRA-operated innovation centers throughout the state that offer state-of-the-art lab space and areas for collaborative research. Our SC Facilities program manage the innovation centers.
Click here to view the SC Launch, Inc. Board of Directors.