South Carolina Research Authority

The South Carolina Research Authority (SCRA) is a public, non-profit corporation established in 1983 by the state of South Carolina. Its core mission is to foster the state's innovation economy by supporting technology-based companies and research. SCRA plays a crucial role in bridging the gap between academic research and commercialization, aiming to create high-paying jobs and stimulate economic growth within the state. Through its various programs, SCRA acts as a catalyst for technological advancement and entrepreneurial development across diverse sectors.

Central to SCRA's investment activities is the SC Launch program, which serves as its primary vehicle for supporting early-stage technology companies. This comprehensive program provides a suite of resources, including strategic guidance, mentorship, and access to capital. SC Launch focuses on identifying promising startups within South Carolina that demonstrate high growth potential and innovative solutions. The program is designed to nurture these companies from their foundational stages through to commercial viability, helping them navigate the challenges of product development, market entry, and scaling.

SCRA, through its investment affiliate SC Launch, Inc., provides critical seed and early-stage capital to qualified companies. These investments typically range from $50,000 to $250,000 for initial checks, often structured as convertible notes or equity. Beyond direct investment, SCRA also facilitates access to a broader network of investors and provides non-dilutive grants, such as the Academic Startup Assistance Program (ASAP) grants which can be up to $50,000. Since its inception in 2006, the SC Launch program has made a significant impact, assisting over 900 companies and deploying more than $100 million in capital, underscoring its commitment to building a robust technology ecosystem in South Carolina.

The SCRA's long-term vision involves continuing to strengthen the state's position as a hub for innovation. By strategically investing in emerging technologies and fostering a collaborative environment among entrepreneurs, universities, and industry partners, SCRA aims to ensure sustainable economic development. Their approach emphasizes not just financial support but also the provision of essential business development resources, helping startups to not only survive but thrive and contribute significantly to the state's economic landscape.