Matt Bell named to head SC Launch see more
The South Carolina Research Authority (SCRA) has announced that Matt Bell was recently named Director of SC Launch and Executive Director of SC Launch, Inc. Bell replaces Russell Cook who resigned to focus on his recovery from a medical issue.
A member of SCRA’s leadership team, Matt Bell is responsible for leading the strategic direction of the SC Launch program, which provides mentoring, networking, and grant funding to eligible companies that are employing new technologies within the advanced materials and manufacturing, information technology, and life science sectors. He also serves as the liaison to the SC Launch, Inc. board of directors, which makes capital investments in SCRA Member Companies that successfully complete the due diligence process. Established in 2006, SC Launch, Inc., is an independent, nonprofit corporate affiliate of SCRA.
“Matt brings a broad background in startup creation from managing intellectual property and launching startups in academia to early-stage investing and venture capital experience. He is also an expert convener who understands how to bring the right people and resources to the table for economic development through innovation,” said Bob Quinn, SCRA Executive Director. “The SC Launch team has been accelerating the growth and success of Member Companies for many years, and Matt brings the right background and experience to lead this team as they guide our companies to becoming highly investible. We sincerely thank Russell Cook for his service to SCRA and the state, and we wish him a speedy and full recovery.”
Prior to coming to the SCRA, Bell was managing director for Discovery Partners Institute, a University of Illinois-led initiative that leverages the state of Illinois’ university resources to drive economic development through workforce training, student immersion, and research programs. He was also a managing director and a principal with Cultivian Sandbox Venture Fund where he raised capital, managed strategic investor relationships, and managed fund activities.
Matt Bell is a board member and advisor for Michigan State University’s state-wide, agriculture-focused translational fund, a former board member of Abcelex Technologies, and a U.S. Department of Agriculture Small Business Innovation Research grant reviewer. He earned a Master of Business Administration and a Bachelor of Science from the University of Illinois. He will be based in SCRA’s Greenville office.
Chartered in 1983 by the State of South Carolina as a public, nonprofit corporation, South Carolina Research Authority (SCRA) fuels South Carolina’s innovation economy through the impact of its four programs. SC Academic Innovations provides funding and support to advance multi-institutional, translational research and accelerate the growth of university-based startups. SC Facilities offers high-quality laboratory and administrative workspaces for technology-based startups and academic institutions. SC Industry Solutions facilitates and funds partnerships between and among startups, industry, and academia. SC Launch mentors and funds technology-based startups that may also receive investments from SCRA’s investment affiliate, SC Launch, Inc.
VentureSouth Named Top Ten see more
Compliments of MidlandsBiz
VentureSouth announced that it has been recognized as one of the top 10 angel investment groups in North America for the 3rd time.
The ranking comes from the Angel Capital Association, which released its 2020 Angel Funders Report this week. VentureSouth was recognized in the study as a top 10 angel group based on both total investments (30) and capital deployed ($12.7M) in 2019. VentureSouth was also recognized as a top 10 group by the ACA in 2018 and by CB Insights in 2014.
The Angel Capital Association is the largest association of angel groups in the world, with more than 250 angel groups and other early stage investors with over 14,000 members. Its members include many of the leading angel groups in the world.
VentureSouth was listed in this year’s top 10 alongside some of the largest and most well-respected angel groups in the US and Canada, including Tech Coast Angels in California and New York Angels and Golden Seeds in New York.
VentureSouth Managing Director Paul Clark commented: “We are honored to be recognized again as a top 10 angel group by the ACA and are proud that the repeat award recognizes our continued growth and the consistency of our approach to early-stage investing. We appreciate our highly engaged investors who are helping us accelerate investments in promising ventures across the Southeast.”
To learn more about VentureSouth, visit https://venturesouth.vc.
Harbor Entrepreneur Center gains new leader see more
The Harbor Entrepreneur Center, a nonprofit focused on helping entrepreneurs through accelerator programs and coworking spaces, will have a new executive director on June 1.
Daniel Stern, the former executive director of the Jewish Community Center and previous major gifts officer for the Lowcountry Food Bank, will assume the helm. John Osborne, the Harbor’s co-founder and current executive director, said recently he plans to step down to work fulltime at Good Growth Capital, a Charleston-based venture capital fund, and with Charleston Angel Partners, an area investment group. “The Harbor is heading into a phase of rapid growth and we are excited to have Daniel on board to lead our nonprofit,” said Osborne, who will sit on the board.
SCBIO's Charleston-area office is graciously hosted at The Harbor Entrepreneur Center by the non-profit organization.
Bioscience Industry Report Shows $2T Economic Impact, Accelerated Venture Capital Investment & Job GrowthU.S. bioscience industry has reached $2 trillion in annual economic impact while continuing to grow see more
Boston, MA (June 5, 2018) – A study released today at the BIO International Convention shows that the U.S. bioscience industry has reached $2 trillion in annual economic impact while maintaining accelerated venture capital investment and job growth numbers. Among U.S. technology sectors, the bioscience industry has held a leading position as an economic driver and job generator.
The report, Investment, Innovation and Job Creation in a Growing U.S. Bioscience Industry 2018, finds U.S. bioscience firms directly employ 1.74 million people, a figure that includes more than 273,000 high-paying jobs created since 2001. The average annual wage for a U.S. bioscience worker reached $98,961 in 2016. These earnings are more than $45,000 greater, on average, than the overall U.S. private sector wage. The report further shows that since 2014, the bioscience industry has grown by 4.4 percent with four of its five major subsectors contributing to this overall job gain.
For the first time, the biennial report includes a full assessment of the economic impact of the bioscience industry and finds its total economic impact on the U.S. economy, as measured by overall output, totaled $2 trillion in 2016. This impact is generated by the direct output of the bioscience industry combined with the indirect (supply chain) and induced (employee spending) impacts. The industry and its associated economic output support 8 million jobs throughout the entire U.S. economy through both indirect and induced effects.
“This report highlights the enormous economic impact delivered by our industry. This strong performance is due to the vital and wide-ranging collaborations between industry partners, universities, and policymakers that provides a business climate that supports the development of innovative bioscience products and high paying jobs,” said Jim Greenwood, President and CEO of the Biotechnology Innovation Organization."
The report also takes the pulse of the broader U.S. innovation ecosystem for bioscience companies and finds it advancing with positive results. The U.S. is experiencing strong gains in bioscience venture capital funding, growth in patents, a recent ramp-up in bioscience-related university R&D expenditures and increasing research funding from the National Institutes of Health (NIH).
“The bioscience industry is vital to the U.S. not only as an innovation engine that is improving lives, but also as a major economic driver that is consistently generating high-quality jobs and significant economic output across the nation,” said Ryan Helwig, Principal and Project Director with TEConomy Partners.
The state-by-state industry assessment is the eighth in a biennial series, developed in partnership by TEConomy and BIO, presenting data on national, state, and metropolitan area bioscience industry employment and recent trends.
Additional highlights from the industry economic analysis include:
- The industry is a major economic driver and is well distributed across U.S. states and cities:
- 41 states experienced net job growth in the biosciences between 2014-2016
- 38 states and Puerto Rico have an employment specialization in at least one bioscience subsector
- 213 of 383 U.S. metropolitan areas have at least one bioscience specialization
Highlights from the analysis of the innovation ecosystem for the bioscience industry include:
- Strength in recent venture capital and patenting trends:
- Venture capital investments have reached new highs. More than $66 billion in venture capital was invested in bioscience companies during the 2014 through 2017 period, including a new annual high in 2017 at $20 billion invested.
- Innovation continues to drive the biosciences, since 2014 the U.S. has increased patent totals in bioscience-related technology classes by nearly 5 percent, or 1.6 percent per year, on average. 2017 had a total of nearly 27,000 patents awarded to U.S. inventors, another new high.
- Growth for academic biosciences R&D in 2016
- After several years of concerns raised about the declining and/or flat NIH research budgets and the subsequent effects on academic and other research, NIH funding is back on the rise. There have been budget increases sustained each of the last three years.
- Across America’s colleges and universities, the pace of R&D spending in bioscience-related research areas has increased. Following a 1.5 percent decline in 2015, academic R&D expenditures in the biosciences increased 5.5 percent to $42 billion in 2016.
- The industry is a major economic driver and is well distributed across U.S. states and cities:
South Carolina Innovators, Inventors convene at SEMDA conference to present to Venture Capitalists see more
State’s Innovators, Inventors, convene at conference to present to Venture Capitalists
GREENVILLE, SC – April 6, 2018 – The Southeastern Medical Device Association (SEMDA) -- a non-profit trade association driven to make the southeast a world-class region for medical technology, device, and diagnostic companies – brings its 2018 conference to South Carolina for the first time May 2-4, 2018, attracting hundreds of executives to Greenville to meet, negotiate, learn, network and grow the medical device industry in the Southeast.
Focused on accelerating device development and helping organizations and individuals gain access to funding, education, and networking opportunities, the annual conference is a must-attend for medical device companies, inventors, physicians, investors, tech transfer offices, universities, and service providers interested in growing the medical device industry in North America, and even globally.
As part of SEMDA 2018’s many activities, SCBIO and SCRA are collaborating to present PitchRounds 2018 – a highly targeted venue for both start-ups and “Seed” companies as well as later-stage (or Series A or later) organizations to present their ideas, innovations and products to panels of institutional investors, regulatory leaders, venture capital directors, IP experts and others in structured sessions.
Selected participants will receive individual feedback on their presentations and compete for $10,000 in top prize money for selected winners. Participating presenters also receive two full conference registrations and access to meet with investors and partners at sessions and networking receptions. Global law firm Eversheds Sutherland, one of the 50 largest law firms globally, is also a co-sponsor of PitchRounds.
Applying to present is both free and simple, with full details available online at www.SEMDA.net/conference/pitchrounds or at www.SCBIO.org. The deadline to complete the simple application to be considered is close of business April 13, 2018.
SCBIO Vice President Erin Ford noted, “SCBIO and our co-sponsors are delighted to make PitchRounds a possibility for South Carolina’s emerging medtech companies to showcase their innovations and solutions, and to directly access investors and industry leaders to gain direct feedback on their innovations.”
“While entries will be considered from across the entire Southeast and presentation spots are limited, we are confident that South Carolina will be well represented based on the robust pipeline of innovations the South Carolina life sciences community has been working on. We encourage all early- and later-stage companies to enter the PitchRounds program and showcase the Palmetto State’s talents.”
SCBIO is South Carolina’s investor-driven public/private economic development organization exclusively focused on building, advancing, and growing the life sciences industry in the state. The industry has an $11.4 billion annual economic impact in the Palmetto State, with more than 400 firms and 15,000 professionals directly involved in the research, development and commercialization of innovative healthcare, medical device, industrial, environmental and agricultural biotech and products. The state-wide nonprofit has offices in Greenville, Columbia, and Charleston, and represents companies in the advanced medicines, medical devices, equipment, diagnostics, IT, and healthcare outcome industries.
SCBIO is the official state affiliate of BIO -- the world's largest trade association representing biotechnology organizations. SCBIO members include academic institutions, biotech companies, med-tech companies, entrepreneurial organizations, service providers, thought leaders, economic development organizations and related groups whose members are leading the research and development of innovative healthcare, agricultural, industrial and environmental biotech and med-tech products that will make a difference across the Palmetto State, and around the world.