SCRA funds organizations for their COVID work see more
In response to the COVID-19 pandemic, the South Carolina Research Authority (SCRA) and its investment affiliate, SC Launch, Inc. have dedicated an additional $1.5 million in funding to support businesses that are providing coronavirus-related solutions and to help their current portfolio companies continue to meet their financial goals during this time.
Companies receiving funding to provide COVID-19 solutions are:
- Blue Eye Soft (COVID-19 detection and diagnosis)
- Carolina Diagnostic Solutions (pulmonary self-monitoring tools)
- Citibot (citizen engagement solution)
- Elastrin Therapeutics (treatment of lung-related illnesses)
- Pure Aqua Solution (destruction of pathogens including COVID-19)
- Precision Genetics (COVID-19 testing)
- Resiliency Technology, Inc. dba SHARPEN (mental health support for healthcare workers)
- Zylö Therapeutics (treatment of COVID-19 and other lung related illnesses)
Additional companies have received investments to help them continue growing their companies in spite of the pandemic. These are:
- ActiveEd (Walkabout app promoting learning and physical activity)
- BandwagonFanClub (fan demographic reporting to elevate event experiences)
- Ellipsis Technologies (anti-fraud and other cybersecurity tools)
- Global Transplant Solutions (organ preservation products)
- PEC360 (patient experience software)
- REsimplifi (commercial real estate property search)
“Our mission of fueling South Carolina’s innovation economy includes answering the call to help during this COVID-19 pandemic. Many of our current client companies were already providing or developing solutions related to COVID-19 while others quickly pivoted to address the pandemic. We are proud to be able to provide the support necessary to maximize the impact of these solutions,” said Bob Quinn, Executive Director of SCRA.
In addition to investing financially, SCRA is also involved in other initiatives to help fight the COVID-19 pandemic. Staff members are serving on various taskforces and committees with health systems and economic development organizations. Other SCRA-supported companies are providing solutions to the pandemic including Modjoul, which has developed an employee health screening platform, Humimic Medical and ZVerse, which are producing protective shields, and Vikor Scientific, which is providing respiratory pathogen testing. Lastly, SCRA is sharing COVID-19 resources online and through social media.
Chartered in 1983 by the State of South Carolina as a public, nonprofit corporation SCRA is a state-chartered organization that fuels job creation and grows South Carolina’s innovation economy. Through SCRA’s programs, SC Academic Innovations, SC Facilities, SC Launch and SC Ventures, researchers, developers and early-stage companies are receiving mentoring and funding, and may be eligible for an investment from SCRA’s investment affiliate, SC Launch, Inc.
Vikor Scientific plans move to WestEdge in Charleston see more
Vikor Scientific, a biotech firm that provides targeted diagnostics to improve patient outcomes, is expanding and moving its headquarters into the 22 WestEdge building this spring.
The building is nearly complete and will include offices for both Vikor Scientific and members of senior management at MUSC Health, according to a news release.
Vikor, which is currently in offices in Suite 8 at 645 Meeting St. in downtown Charleston, provides medical professionals with diagnostic tools to improve treatments. The company takes a specimen and customizes molecular diagnostic panels to accurately detect and measure pathogens and antibiotic resistance within 12 to 24 hours.
“At Vikor’s new WestEdge location, together with South Carolina Research Authority, we’re creating a lab and office environment that people in Charleston have been craving for years,” Vikor co-founder Scotty Branch said. “Not only will our workforce feel good about going to work in a state-of-the-art facility looking out over a world-class city, we’re proud to invite scientists from across the country to visit our workspace.”
There are currently 53 employees at Vikor, and the company is hiring, the release said. The company’s WestEdge headquarters will include executive suites, sales and marketing teams, customer service, supply chain management and payer relations, plus clinicians, neuropharmacologists, medical specialists, researchers and scientists on multiple floors of the building.
Vikor co-founder and Medical University of South Carolina alumna Shea C. Harrelson said she is aware of potential collaboration opportunities with the neighborhood’s proximity to the medical district.
“We recently launched our research division, KOR Life Sciences, and we are interested in working with other scientists at MUSC to identify areas where synergy may be possible,” Harrelson said.
Michael Maher, CEO of The WestEdge Foundation Inc., said Vikor’s presence affirms the WestEdge vision. He said the neighborhood’s current and future living options, restaurants, retail, fitness, gathering and incubator spaces were developed with businesses like Vikor in mind.
The 22 WestEdge building will be the tallest multitenant office building on the peninsula and in the Charleston metro area when it opens, with 150,000 square feet of office and lab space, plus street-level space for cafes, restaurants and shopping, the release said.
Upon completion, the entire WestEdge project will encompass more than 3 million square feet of space on 60 acres along the Ashley River.
SCRA Making Huge Contributions to SC business and job growth see more
New Report Spotlights Heavy-Hitting Contributions to State Business and Job Growth
In Fiscal Year 2019 (FY19), the South Carolina Research Authority (SCRA) played a major role in boosting jobs and technology-related businesses in South Carolina, with 2.9% technology sector job growth—close to double that of general statewide employment gains—and an impact of $694.38 million on the overall innovation economy. An annual report released this week quantifies metrics and shares the success stories behind these positive statewide trends resulting from the efforts of SCRA and its clients and partners in research, academia, entrepreneurship and industry. Click here to read the full story, compliments of Midlands Biz.
South Carolina makes its three-city debut on the Surge Cities list see more
Today, Greenville, SC debuts on the Surge Cities list at No. 33--one of three South Carolina cities, including Charleston and Columbia, to appear on the list for the first time. Each has drawn on unique strengths to build its startup scene, but all three also benefit from one another's success. Greenville's turnaround began 25 years ago when city leaders began aggressively recruiting manufacturers to tap into the city's underemployed workforce and tax incentives. Click here to read the full article, compliments of Inc. Magazine.
SCRA Celebrates $1 Billion in Support of South Carolina Start-Ups see more
Summerville, S.C.– 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 sectors.
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.
Eight story office and lab building named 22 WestEdge breaks ground in Charleston, SC see more
The third multistory building set to rise in the developing WestEdge community on the Charleston peninsula broke ground Thursday — under a tent because of all the recent rain.
The eight-story office and laboratory structure called 22 WestEdge will sit next to the under-construction, nine-story 10 WestEdge building at Spring Street and Lockwood Drive. That’s where Publix supermarket is set to open on the ground floor in October.
The first floor of the all-glass exterior structure will house 15,750 square feet of retail space while the upper floors will provide 138,500 square feet of office space-targeted firms in the so-called knowledge economy, such as the life sciences industry. About half of the site has already been leased.