SCRA and SC Launch Celebrate $1 Billion in Follow-on Funding for SC-Based Companies

SUMMERVILLE, S.C.–(BUSINESS WIRE)–SCRA, a public, non-profit corporation that fuels South Carolina’s
innovation economy, celebrated a milestone of $1 billion of follow-on
capital secured by Client Companies in the SC Launch Program. SC Launch,
SCRA’s entrepreneurial program, provides mentoring, grants and access to
SC Launch, Inc. investments for qualified, South Carolina-based,
early-stage companies.

Access to follow-on capital is critical to the success of
entrepreneurial companies. Angel investors, venture capital funds and
corporate investors are the main source of follow-on funding secured by
SC Launch companies. The $1 billion in follow-on investments were
acquired by more than 140 Client Companies over the span of 12 years.

“Our job, and our passion, is guiding companies to the next stage in the
entrepreneurial life cycle and seeing them through to success,” said Bob
Quinn, SCRA Executive Director. “The funding provided by SC Launch is
vital in enabling our Client Companies to overcome many of the barriers
faced by early-stage enterprises. However, void of follow-on funding,
these companies often flounder. Therefore, we are thrilled to be
celebrating this $1 billion milestone.”

“Through the SC Launch Program, SCRA helps entrepreneurs to
strategically navigate the ups and downs of running a company. We also
work alongside entrepreneurs to secure grants, prepare them for
investments and secure capital from other sources,” said Jill Sorensen,
SCRA Director of Entrepreneurial Programs and Executive Director of SC
Launch, Inc. “Our team rolls up our sleeves and dives in to provide an
advantage for the entrepreneurs we support.”

SCRA is a state-chartered organization that fuels job creation and grows
South Carolina’s innovation economy. The SC Launch Program is open to
qualified South Carolina companies in the Advanced
Materials/Manufacturing, Information Technology and Life Sciences

About SCRA

Chartered in 1983 by the State of South Carolina as a public, non-profit
corporation, SCRA fuels South Carolina’s Innovation Economy by
supporting entrepreneurs, enabling academic research and its
commercialization, and connecting industry to innovators.

About SC Launch, Inc.

Established in 2006, SC Launch, Inc. is an independent, non-profit
corporation affiliated with SCRA, which provides loans and investments
to selected South Carolina-based companies participating in the SC
Launch Program.


Jessica Cokins
843.760.3273 office

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