South Carolina ripe for seed funding and beyond


By Bob Quinn and Matt Bell

South Carolina is known for a lot of things, and being a breeding ground for tech startups is now a rapidly emerging trend. South Carolina Research Authority (SCRA) works hard to continue this trend by funding and supporting viable tech-based startups that are so fundamental to the growth of our state’s economy.

In fiscal 2020, SCRA’s programs – SC Academic Innovations, SC Industry Solutions, and SC Launch – awarded $ 2.4 million in grants to South Carolina startups and universities to create jobs, advance research capabilities, commercialize technology, expand product offerings and finance costs for businesses. moving to South Carolina.

In addition to this grant, during the last financial year, the subsidiary of SCRA, Launch of SC, Inc. has invested $ 3.1 million in seed funding in 16 South Carolina startups. This included $ 1 million in investments and loans for companies providing solutions to problems related to COVID-19, as well as assistance to SC Launch, Inc.’s portfolio companies that were affected by the resulting economic downturn. of the pandemic.

Since its inception in 2006, SC Launch, Inc. has invested more than $ 35 million in startups in South Carolina. This led to over $ 1.9 billion in subsequent investments in these companies from venture capitalists, angel investors, etc. The amount of this follow-up funding received in fiscal 2020 alone was over $ 329 million. This 55: 1 leverage of SC Launch, Inc. on private capital is a true testament to the quality of the companies in which SC Launch, Inc. has invested. All of this translates into jobs and economic growth for our state.

While we are seeing continued success in generating businesses in South Carolina, there is still a long way to go to develop and sustain these opportunities. SC Launch, Inc., Cultivation Capital, BIP Capital, and SCRA’s VentureSouth, to name a few, continue to grow the ecosystem and create economic momentum by connecting South Carolina technology solutions to state markets, regional, national and international. Needs. It is through the support of these programs that investors find ways to invest in South Carolina’s future. However, more attention needs to be paid to increasing the growing state capital reserve. This will give South Carolina-based startups the opportunity to acquire the necessary funds to stay in the state and further develop its economy.

  • In fiscal 2020, SCRA’s programs – SC Academic Innovations, SC Industry Solutions, and SC Launch – awarded $ 2.4 million in grants to South Carolina startups and universities to create jobs, advance research capabilities, commercialize technology, expand product offerings and finance costs for businesses. moving to South Carolina.
  • In addition to this grant, during the past fiscal year, SCRA’s subsidiary, SC Launch, Inc. invested $ 3.1 million in seed funding in 16 South Carolina startups.
    • This included $ 1 million in investments and loans for companies providing solutions to problems related to COVID-19, as well as assistance to SC Launch, Inc.’s portfolio companies that were affected by the resulting economic downturn. of the pandemic.
    • Since its inception in 2006, SC Launch, Inc. has invested more than $ 35 million in startups in South Carolina. This led to over $ 1.9 billion in subsequent investments in these companies from venture capitalists, angel investors, etc.



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