Opportunities to Support our Companies
SCRA is excited about its mission to foster jobs and economic development in South Carolina by guiding and providing funds to innovative early-stage companies and university research in our state. But we are also excited to build the innovation ecosystem here. SCRA is proud to partner with a variety of organizations which can provide support that is intended to supplement our efforts. Explore these opportunities to see how you can help foster innovation and jobs in South Carolina!
The Industry Partnership Fund (IPF)
SCRA and SC Launch, Inc. are able to provide the guidance, grants and investments in technology startups and academic research and development in no small part to a fabulous program called the Industry Partnership Fund (which you will many times referred to as the “IPF.” South Carolina was one of the first states that had the vision to create a special fund that would support technology startups in the state. Contributions to the IPF made by South Carolina-resident individuals and corporations get a dollar-for-dollar tax credit toward their state tax obligation up to a maximum of $250,000. In addition, you can write a check to the IPF in January and SCRA holds those checks until December, providing a positive cash flow advantage to the contributor. In addition, depending on a corporation’s identity and status, it may also be entitled to a deduction against its federal income taxes as a business expense. For more information on how you can support South Carolina innovation through the IPF, see the link below.
Resource Partner Network
Companies come to us in various stages of development and maturity. Many times, they need advice and counsel in legal, regulatory, accounting, financial analysis, recruiting and sales/marketing. The SCRA Resource Partner Network serves as a key resource to connect Member Companies and their founders to this ecosystem of experts. Our Resource Partners provide meaningful guidance in an array of key business areas to foster business collaboration. This enables us to connect these eager startups with experts in a range of fields to help them wisely create and build their businesses in the state. We encourage our Resource Partners to provide an initial free consultation or discounted consulting rates so that these companies can keep their overhead costs low as possible. If you are interested in becoming a member of the SCRA Resource Partner Network, please see the link below for how you can become a member.
Connecting to the South Carolina Ecosystem
Over the last ten years, the innovation ecosystem and support network has developed an impressive footprint in South Carolina. There are now close to 50 business incubators in the state and SCRA helped create and hand off the SC Business Incubator Network (SCBIN) to its members. In addition, there are very active economic development organizations in every corner of their state who sponsor networking events and webinars to better inform emerging entrepreneurs and companies. SCRA eagerly connects entrepreneurs and emerging companies to these dedicated groups and resources in the state.
