is a private, not-for-profit SCRA affiliate.
It is an unprecedented collaboration among SCRA and South Carolina’s university research foundations.
The SC Launch team works together to strengthen South Carolina’s Knowledge Economy by: Facilitating applied research, product development and commercialization Providing entrepreneurs with key tools for success to help build start-up companies and high wage-earning jobs Providing start-up companies with access to business and economic development acumen and support through a powerful Resource Network
SC Launch Overview
Supporting Every Stage of the Innovation Pipeline from Discovery to Development to Commercialization
DISCOVERY ASSESSMENT
EDUCATION and MENTORING
DUE DILIGENCE QUALIFICATION
Many ideas and discoveries that are the seeds of new companies begin in the laboratories of research universities and in the minds of university researchers. SC Launch works with South Carolina university research foundations to assess the commercial viability of new ideas and to help guide discoveries on the road to company formation.
SC Launch Zone Managers and Resource Partners provide mentoring and education for early-stage companies. In addition, SC Launch supports entrepreneurial training programs such as the awardwinning FastTrac TechVenture Program.
SC Launch Portfolio Companies must have passed through a rigorous qualiďŹ cation process to achieve Portfolio Status. This helps companies focus their business models and lends credibility as they prepare for more substantial growth funding.
IDEA/ DISCOVERY
RESEARCH & DEVELOPMENT
COMPANY FUNDING
NEW IDEAS CONTEST
SBIR/STTR MATCHING GRANTS
FUNDING
SC Launch fosters entrepreneurial thinking through sponsorship of the New Ideas for a New Carolina contest that awards creative thinkers with tools to transition their ideas into businesses.
SC Launch awards matching funds to companies that have been granted a Federal Small Business Innovation Research or Small Business Technology Transfer Phase I award.
SC Launch provides grants or investments to qualiďŹ ed SC-based start-up companies and helps companies qualify for follow-on funding from other sources.
SC Launch Overview
SC Launch provides a pathway to commercialization by helping entrepreneurs to grow companies, create jobs and bring innovative products & services to market.
GUIDANCE and SUPPORT
INNOVATION CENTERS
CREDIBILITY BUILDING
SC Launch Companies gain access to business and risk reduction expertise through a powerful Resource Network. SC Launch Resource Partners provide business services such as banking, accounting, legal counsel, advertising and marketing.
SC Launch Companies beneďŹ t from the deployment of three innovation centers that are being provided with SCRA earnings. The centers serve as homes for emerging SC companies. Each of these centers is an accelerator for business development and commercialization of research discoveries.
The discipline necessary to progress within the SC Launch program better positions start-ups to seek funding from angel and venture capital sources. That s one of the reasons the Portfolio Companies have been able to secure over $55M in follow-on funding.
COMPANY GROWTH
COMMERCIALIZATION SERVICES
MARKET IMPLEMENTATION
LANDING PARTIES
PUBLIC/PRIVATE PARTNERING
COMMERCIALIZATION NETWORK
SC Launch offers assistance, support and networking opportunities to landing parties wishing to relocate to South Carolina to take advantage of the favorable business environment and quality of life the state has to offer.
SC Launch encourages partnerships between the public and private sector and plugs new companies into a business ecosystem supportive of knowledgebased innovations.
In partnership with SCRA, a SC-based global leader in applied research and commercialization, SC Launch Companies may gain access to ready markets through SCRA s national and international level programs.
SC Launch Overview
Eligibility Information SC Launch has the resources and contacts to help support early stage companies in many ways. Our process is selective because we focus our resources on assisting companies with the greatest opportunities to help grow a strong technology business base in South Carolina.
Technology Start-Up Assistance
SBIR/STTR Phase I Matching Grant Program
SC Launch is open to seed and early-stage South Carolina-based advanced technology companies.
This program awards matching funds to South Carolina-based companies that have been granted a Federal Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) Phase I award.
Funding - SC Launch offers funding in the form of small grants, loans, and equity investments. SC Launch Zone Managers work with potential Portfolio Companies to develop a business case for the maximum funding level. The process requires time and commitment on the companies’ part. It prepares its principals for the rigors of securing follow-on funding from angel investors and venture capital firms. Services - Business counseling, on-going mentoring, assistance with business plans and marketing analysis is available through the SC Launch staff, selected agencies, and universities. Resource Partners - The SC Launch Resource Network provides services such as banking, accounting, legal counsel, insurance, advertising, marketing, human resources, training and mentoring.
The SBIR/STTR Program is designed to foster job creation and the Knowledge Economy in South Carolina. The Program increases the competitive position of South Carolina small businesses in attracting SBIR/STTR grant funding. The Program also provides an incentive for Federal Phase I award-winning companies to participate in the more substantial Federal Phase II program. The maximum grant amount is 100% of the Federal SBIR/STTR Program Phase I award, not to exceed $100,000. The maximum amount of total funds available for FY09 awards under the Matching Grant Program is $1,000,000.
Networking and Connections - SC Launch is well-connected among the business and economic development sector of the State and can provide important networking opportunities. For acceptance guidelines and SBIR/STTR Matching Grant Program eligibility requirements please visit www.sclaunch.org.
SC Launch Overview
Moving Through the
Program
Each candidate company s involvement in the SC Launch program is different, and the order of events is not always the same. Here is an example of one possible progression:
SC Launch supports companies within technology sectors currently identiďŹ ed as having the greatest statewide beneďŹ t.
Advanced Materials and Fibers Certain engineered materials have unique physical properties that offer performance improvements to a wide range of products. Examples from SC Launch companies include a fiber-based material microengineered to withstand impact without splintering; an any-shape, any-size sensing platform that measures force, impact, and torque; and products used to determine purity in lab analyses at a lower cost than traditional methods.
Alternative Energy SC Launch supports alternative energy companies as part of its clean technology strategy. Innovation in this area is especially relevant considering current fuel cost, availability issues and environmental concerns. Technologies include a device that converts vehicles from gas-powered
to cleaner electric-hybrid power, clean reliable hydrogen fuel cells, and a process which converts waste products into fuel. These technologies complement the growing alternative energy and automotive technology clusters in the state.
Engineering Knowledge-based companies engineer better approaches to existing challenges. An example from an SC Launch company is a device used to analyze physical properties of products directly at the production line, alleviating the need to send samples to a lab. Another SC Launch company has engineered an innovative tire that automatically deploys and retracts tire studs based on weather conditions - a clear improvement over the traditional use of manually-applied snow tires or chains.
Life Sciences Many SC Launch companies develop products and processes that improve individual and societal health. These include organized electronic reports generated from multiple medical imaging devices, new drug treatments, biomedical analysis technology, tools to improve dialysis, and tools and processes for early detection of melanoma.
Related Information Technology Information technology enables almost every industry and is changing the way people conduct business. SC Launch companies produce revolutionary new ways to communicate and interact with various media to learn about and purchase products, and collect and evaluate data for manufacturing efficiencies.
Portfolio Companies have received a significant investment from SC Launch.
Advanced Materials quality protection to be offered to more of our servicemen and women on the battlefield, and to potential civilian clients. Only nine months after the ballistics testing of the first Innegra S armor
Innegra S also has the potential to reduce weight in boats, cars and trains, which can ultimately reduce fuel consumption.
Tough, Lightweight Composites Innegrity is marketing a synthetic fiber called Innegra, a low-cost alternative to fibers such as Dupont’s Kevlar®. The fiber was invented by company founder Brian Morin, a scientist formerly employed by Spartanburg-based Milliken & Company. Innegra S, Innegrity’s thermoplastic fiber, exceeded expectations when tested in ballistics applications such as body armor. Because of its relatively low cost, Innegra S will allow high-
panel, sales projections for the upcoming year total nearly $5 million. Applications include hard and soft armor, tents and mobile structures and building security.
SC Launch invested $200,000 in the venture, helping the company further its business plan. Innegrity has since raised about $10M through a combination of investors, loans and federal grants. Innegrity is currently installing $2M worth of manufacturing equipment in a former warehouse in Simpsonville, SC, and plans to hire 150 people in the next three to five years. Innegrity’s Innegra S (bottom) outperforms a leading material (top) in impact tests.
Innegrity is transforming an abandoned Simpsonville warehouse into a composites manufacturing facility, and plans to hire 150 people in the next three to five years.
SC Launch Portfolio Companies
SC Launch supports advanced materials and alternative energy companies as part of its clean technology strategy.
Conductive Polymer-based Advanced Materials SensorTech, LLC is an early stage company with an exclusive license to commercialize a contact sensing technology originally developed at Clemson University’s Department of Bioengineering. This technology uses conductive polymers as contact sensors for precise measurement of pressure, force, torque and vibration. The discovery arose while developing a methodology for measuring the contact pressure and contact area of an artificial knee joint. New research demonstrates that the electrical properties of the polymer bearing can be altered without affecting its mechanical properties, allowing for precise measurements of contact pressure distribution or force.
High Performance Liquid Chromatography
Helping SensorTech’s Path to Market SC Launch guided SensorTech in its early startup advancement with networking and expert counseling. These connections led to an award of the company s first contract. The work will produce sheets of their enhanced polymer material for use in the prosthetic measurement process for custom fit artificial limbs for amputees. This contract, an SCRA-led nationallevel composites research consortium, has given SensorTech an entry into the Advanced Materials market and paved a path of continued growth for technology companies in South Carolina.
Invenca, LLC is a start-up company dedicated to reducing the cost of high performance liquid chromatography (HPLC) and enabling the use of HPLC for purification. HPLC is one of the most widely used analytical methods in chemistry labs. Invenca has produced a novel HPLC medium, based on technology licensed from Clemson University, that replaces uniform sized, expensive silicon granules with inexpensive fiber that yields higher throughput. The prime markets for Invenca’s technology are research labs and biotechnology companies. Invenca received a $200,000 investment from SC Launch. With this investment, Invenca plans to launch its product in 2009.
The SC Launch investment in Invenca will be used to recruit and fill important, full-time management positions, and enable product launch in the coming year.
Alternative Energy technology-neutral plug-in hybrid-electric drive system that requires no changes to the internalcombustion engine, transmission, vehicle support systems or emissions equipment.
Hybrid and Electric Vehicle Power Systems
“SC Launch and many other South Carolina organizations have been a great asset in helping EV Power Systems begin the transition from early stage to a higher-volume manufacturer,” said EVPS co-founder and CEO, John R. Dabels. “Our management is impressed with the depth of resources available here. We are delighted to be a part of South Carolina’s efforts to build a knowledge-based economy.”
EV Power Systems Inc. (EVPS) designs, sells, and services hybrid and all-electric vehicle power systems. EVPS founders apply extensive experience from the automotive and commercial fleet industries to develop innovative, electricdrive system solutions. EVPS has developed, tested and is taking orders for a commercial retrofit plug-in hybrid-electric drive system designed for trucks. EVPS converts existing trucks with an affordable, effective,
EVPS received a $200,000 investment from SC Launch in recognition of its viability and the role it could play in the automotive technologies cluster in the Upstate around the Clemson University International Center for Automotive Research.
EVPS retrofits existing trucks with an affordable plugin hybrid-electric drive system.
EV Power Systems is an ideal candidate for the automotive technologies cluster in South Carolina’s Upstate around the Clemson University International Center for Automotive Research.
SC Launch Portfolio Companies
SC Launch was formed with $12M of SCRA’s earnings. To sustain the program, organizations and individuals can contribute to the Industry Partnership Fund and receive dollar-for-dollar SC tax credits.
Trulite recently located its Hydrocell™ cartridge manufacturing facility to the Midlands Technical College Enterprise Campus in Columbia, SC.
Renewable Waste-to-Fuel Technology
Clean, Reliable Off-grid Power through Hydrogen Fuel Cell Powered Generators Trulite™ is currently in beta testing on the KH4™ Portable Power Generator, which can provide 150 watts of continuous power and 250 watts of peak power. The KH4 Generator’s “Just add water” hydrogen storage cartridge, the Hydrocell, makes it all possible. The Hydrocell is very light, weighing just over 1 pound, and delivers over 400 Watt Hours of energy. The KH4 has multiple power outputs of 120VAC, 12V and 5V DC, and is designed to run all day on two cartridges.
Climax Global Energy is commercializing a patented technology that converts waste plastics, used oils, coal slurry fines and forest industry byproducts into synthetic crude oil, transportation fuels and industrial petrochemicals. The process addresses the environmental problems of waste management while providing a renewable source of energy and crude oil conservation.
The Trulite generator, KH4™, is a fuel cell power system and fuel source in one fully integrated system.
The company is currently scaling up from a pilot plant to a commercial plant. Modular plants will be located near the waste supply or the refinery that purchases the product.
Climax Global Energy is currently scaling up from a pilot plant to its first commercial plant in Allendale County.
Life Sciences
Peptide-based Pharmaceuticals for Treatment of Pain Argolyn Bioscience, Inc. is a privately held biopharmaceutical company dedicated to discovering and developing novel peptide drug candidates to treat pain, diseases and disorders. The technology already has been used to derive promising new drug candidates indicated for pain and schizophrenia. Each of these compounds acts at a novel target. The same technology is being used to derive additional novel peptide-based drug candidates. Argolyn Bioscience intends to
out-license or partner these compounds as they advance through the regulatory approval process.
the company, SC Launch presented Argolyn with a $200,000 check for early stage funding.
The Company was founded in May 2002 on the basis of inventions created in the laboratory of Dr. Thomas A. Dix in the Department of Pharmaceutical Sciences at the Medical University of South Carolina. Recognizing the potential of
Argolyn has gone on to secure over $7M in follow-on investments from investors Intersouth Partners and Quaker BioVentures, with Amgen Ventures also participating. Argolyn is among the first MUSC biotech spin-outs to generate venture capital funding and is the recipient of the largest life science financing to date in South Carolina.
Argolyn, recipient of the largest life science financing to date in SC, is among the first MUSC biotech spin-outs to generate venture capital funding.
Argolyn was awarded the 2007 Deal of the Year for first-time financing by Southeast BIO (SEBIO).
Argolyn has secured over $7M in follow-on investments from venture capitalists.
SC Launch Portfolio Companies
SC Launch is dedicated to mentoring, training, and offering networking opportunities to the entrepreneurial companies that will build a brighter economic future for South Carolina.
Nanotechnology Products for the Biomedical Industry
quantum dots. Selah Dots™ have a host of other additional applications including usage in security inks for authenticity and anti-counterfeiting. Selah Tubes™, patent-protected enriched carbon nanotubes, have direct applications in consumer electronics.
Selah Technologies, LLC is a privately held advanced materials innovator focused on the development of nanotechnology-enabled products for the biomedical industry.
After successfully raising $1.6 million from private accredited investors, Selah inked a research and development deal with OSRAM SYLVANIA, Inc., a major manufacturer of lighting products.
Selah obtained a worldwide exclusive license in 2006 from Clemson University to develop and commercialize two nanotechnologies. Selah Dots™ are brightly luminescent carbon-based nanoparticles designed to be used as bio-sensing and bio-imaging contrast agents, replacing fluorescent dyes, microbeads and heavy metal-based
Selah Technologies imaging of cells with Selah Dots™.
The agreement was aimed at exploring the incorporation of Selah’s proprietary nanotechnology into the larger company’s products. Selah has also signed a cooperative research agreement with the University of South Carolina (USC) to investigate the use of Selah’s carbon nanoparticles in biological diagnostic applications. The collaboration will give USC access to Selah’s proprietary Selah Dots™ while allowing Selah access to world-class research at the USC NanoCenter. This relationship has enabled engagement with the National Cancer Institute to advance Selah Dots™ for surgical oncology applications; including margin determination and real time pathology. Selah is focused on developing point-of-care test kits which will allow early and accurate detection of cancer and other infectious diseases.
Selah is collaborating with both Clemson University and the University of South Carolina NanoCenter to advance Selah Dots™ for surgical oncology applications.
Medical Devices
Kidney Dialysis Connectivity CreatiVasc Medical develops solutions for the universal problems of kidney dialysis connectivity. Their ground-breaking, proprietary and easy-touse vascular technologies significantly improve the quality of life for kidney dialysis patients. CreatiVasc was founded in 2004 by Greenville Hospital System University Medical Center’s nationally recognized vascular surgeon David Cull, M.D. The company received a financial infusion from SC Launch, which enabled accelerated product development and testing.
CreatiVasc found the manufacturer for their first commercialized product, the FistulaFinder®, by networking through the SC Launch Resource Partners program. The FistulaFinder® is an elegantly simple innovation that helps nurses find veins in dialysis patients. It successfully completed two usage trials in dialysis clinics and
CreatiVasc received a $3.2M initial round of financing in December 2007 through a Private Placement Memorandum.
was accepted as part of the product line of Henry Schein Inc., the largest dialysis product distributor in the U.S. CreatiVasc’s major innovation, the Hemoaccess Valve System, received FDA approval for human clinical trials late in 2008. Other devices are in various stages of development for testing in 2009 and for market introduction after that. With early funding from SC Launch, initial FDA testing at Clemson University, and the relationship with the Greenville Hospital System University Medical Center, the CreatiVasc story is a perfect example of how collaboration within an ecosystem of entrepreneurial support brings about medical advances in the state.
CreatiVasc’s Hemoaccess Valve System was recognized by the History Channel in 2006 as one of the five winners, out of 4,000 entries, of their Innovation of the Year award.
SC Launch Portfolio Companies
SC Launch provides services and support to help turn innovative ideas into companies, jobs and products that improve people’s lives.
Sabal Medical recently announced significant follow-on financing, led by Nexus Medical Partners of Quincy, MA, and its German affiliate, Medicis Nexus Partners GmbH of Munich.
Automated Medication Carts and Bar Code Verification Software Sabal Medical is the maker of an automated, mobile medication cart that combines security, tracking, mobility and access to all hospital patient medications at the bedside, using integrated bar code verification software to reduce medication errors. SC Launch recruited and supported Sabal Medical’s move to South Carolina from Seattle, Washington. The move bolsters the growth of healthcare technology and manufacturing in South Carolina.
Use of the Sabal Medical cart helps nurses avoid disruptions and reduces the risk of patient medication errors.
Cell Culture Goes 3-D KIYATEC, LLC is adding a whole new dimension to cells grown in laboratories. Cells cultured in three dimensions have tremendously greater accuracy and value than those grown in two. In its 100-year history, the science of cell culture has been largely confined to flat, 2-D surfaces. But KIYATEC allows 3-D cell culture to explode, maximizing its impact in lab research, drug discovery and personalized medicine. KIYATEC has licensed inventions from Clemson University’s renowned Department of Bioengineering and maintains office and wet lab space at the Center for Applied Technology in Pendleton, South Carolina.
The Sabal™ cart is undergoing field testing in two eastern U.S. hospitals.
Healthcare of melanoma. It enhances the ability to identify melanoma in early, more treatable stages.
Tools and Processes for Critical Early Detection of Melanoma DigitalDerm’s MoleMapCDŽ helps save people from melanoma, one patient at a time. The MoleMapCDŽ technology was developed in conjunction with the Duke Comprehensive Cancer Center in Durham, N.C., where leading melanoma expert James Grichnik, M.D., Ph.D. was a researcher and clinician. In use for more than a decade at Duke and other medical facilities, MoleMapCD is the new standard of care for documenting the skin of patients at risk
Life-Saving Technology MoleMapCD is more than just a CD - it is a suite of tools and processes with the power to save lives. Melanoma is treatable when it is detected early. Most early detection is made by patients. MoleMapCD technology creates an easy-tonavigate repository of images that helps patients play a greater role in their own care. It has already saved lives by helping patients discover melanoma in time to seek critical early treatment.
DigitalDerm, Inc. has adapted and upgraded previous total body photography techniques utilizing film and picture books to a computerbased system, allowing doctors and patients to harness the speed and power of computer-based image display and manipulation. The easy-to-use technology encourages patients to become active contributors in the early melanoma detection process. MoleMapCD has established a strong presence in the southeastern United States, and national and international expansion is underway.
MoleMapCD has established a strong presence in the southeastern United States. National and international expansion is underway.
SC Launch Portfolio Companies
86% of SC Launch money has been invested in start-up company growth. Administrative costs associated with program execution are minimal.
Medical Imaging Software
Medical Procurement Applications
Vidistar technology allows cardiovascular, obstetric and orthopedic physicians and mobile imaging companies to more easily organize and access ultrasound video. The system auto-populates complex data from imaging devices into customized reports for processing and reading.
MedProcure is a software solutions company providing supplies procurement applications for physician offices, surgery centers and nursing homes. MedProcure offers a fast yet simple method of managing and ordering all the supplies necessary to run a medical office.
The company currently has nine customers in South Carolina and Texas. SC Launch recently invested $100,000 in the company, which managing partner, Paul McHugh says he will use on further sales and marketing to reach the company’s goal of $5M in annual revenue within five years.
VidiStar Offers a Great ROI VidiStar provides on-line creation and viewing of Digital Imaging and Communications in Medicine (DICOM) structured reports. The software reduces transcription time, saves valuable storage space and helps practitioners meet their goals in less time. Depending on the depth of a particular scope study and the number of VidiStar users in a given medical practice, users can expect a first-year return on investment of 87%. For instance, a group of 10 practitioners who each conduct two studies per day could realize a cost savings of more than $87,000 in one year.
The company is headed by Tom Woodson, a Greenville native and Furman University graduate. Woodson founded MedProcure in 2007 with his partner, David Quattlebaum, a software industry expert. SC Launch invested $150,000 in the company to enable further product growth.
Vidistar will use its SC Launch investment to further sales and marketing to reach the company’s goal of $5M in annual revenue within five years.
Engineering
In-Line, Real-Time Process Control SC Launch Portfolio Company, Ometric, is a licensee of University of South Carolina intellectual property. Ometric’s SpectrInline Processware® performs spectroscopy quickly and efficiently, providing real-time process control and final product testing to a variety of industries. Spectroscopy is the computerized projection of light, sound or particles into a pipe, for example, to measure the properties of a physical substance. Traditionally, industrial environmental factors prohibited on-site substance measurements. Spectroscopy could typically be performed only in a lab setting, which added unnecessary time onto factory production.
Ometric provides spectroscopy hardware and equipment directly to the production line, eliminating the need to measure a sample, send it off to the lab and wait for results.
Ometric’s SpectrInLine® product enables manufacturers to measure, monitor and control their manufacturing process.
Industries that utilize spectroscopy include pharmaceuticals, chemical, agricultural, food and beverage, pet nutrition, environmental, plastics, oil and gas, and multiple cleantech applications. SpectrInLine® enables manufacturers to measure, monitor and control their manufacturing process, 24 hours a day, seven days a week from anywhere in the world by computer, PDA or smart phone. Users can view production runs by their choice of dates, shifts, product lines and plants. Results are shown in a graphical format and are designed for easy interpretation. Information may also be shared with others, allowing managers to analyze current and historical data and adjust their processes as needed to assure proper quality and final product formulation.
Ometric currently has 18 employees with plans to expand its employee base to approximately 200 in the next three years.
SC Launch Portfolio Companies
SC Launch supports companies that complement South Carolina’s growing statewide technology clusters - automotive, alternative energy, and bioscience.
studs alleviates extensive road damage caused by permanent studs, and improves safety in all weather conditions.
System Monitoring and Event Notification
Adaptable Tires Q Tires is a company creating the first and only “adaptable” tires – tires able to change their performance characteristics with the changes in road and weather conditions. Q Tires has developed this patented all-season tire technology for autos and trucks. The “Studs on Q” technology enables studs to be extended from the surface of the tire in snow and ice, yet lie below the tread when not required. This can be done remotely from the inside of your vehicle for added safety and convenience. The Q tire with deployable
The Q Tires product derives many of its innovations from the heritage of South Carolina’s Automotive Cluster. Research and development is conducted in Akron, Ohio, and operations, sales, marketing and business-to-business distribution are located in Greenville.
Studs are extended in snow and ice, yet lie below the tread when not required.
Vigilix, LLC is the leading provider of applications built for supporting point of sale systems. Its suite of products include the industry’s only PCI Certified solution for real-time monitoring, alerting and remote control. Applications can be centrally managed through a single dashboard allowing Help Desk operators to provide a higher level of support services in a more cost-effective way. Delivered as a soft ware-as-a-service or an on-site application, Vigilix can be used by a point-of-sale dealer, a retail or hospitality company’s internal Help Desk, as well as the support operations of a point of sale software manufacturer.
Q Tires came to South Carolina for leadership and know-how to translate an idea into a viable company.
IT and Service Infrastructure
Promotions Web Service
Automated Data Collection and Reporting for City, State, and County Governments Clemson-based PinPoint GeoTech, LLC specializes in simplifying and automating data collection and reporting processes that are necessary for City, State, and County Governments. The PinPoint application uses simple, affordable and effective GPS technology to enable efficiency measures in curb-side debris removal. This results in reduced miles driven, less vehicle wear-and-tear and fewer greenhouse gas emissions. Cities have reported
SC Launch Director, Dave McNamara (left) and Zone Manager, Greg Hillman (right) present a big check to PinPoint Geotech, LLC.
savings from 10 percent to 60 percent in debris removal operation fuel costs after implementing PinPoint GeoTech systems.
PromoPipeline, headquartered in Greenville, SC, provides a web service platform that enables resellers to efficiently locate IT promotions, thereby improving communications between vendors, distributors and resellers. It also provides the tools that vendors need to increase promotion effectiveness and helps streamline internal promotion management and workflow. Through the SC Launch Resource Network, PromoPipeline engaged MBA students at the Arthur M. Spiro Institute for Entrepreneurial Leadership at Clemson University to research new markets for their product.
Through the SC Launch Resource Network, PromoPipeline was connected to the Spiro Institute at Clemson University for assistance researching new markets for its product.
SC Launch Portfolio Companies
Several initial SC Launch clients have been able to secure institutional-grade, follow-on funding.
Wireless Messenger Zipit Wireless Inc. is the developer and distributor tor of the Zipit Wireless Messenger, the only WiFi instant messaging device on the market that supports all major IM services. SC Launch provided $200,000 to the company, which will be used to continue its expansion in the consumer electronics and wireless technology markets. Zipit has now also received $6.5 million in Series A funding from Windspeed Ventures, SunBridge Partners, and Meritus Ventures, L.P.
Early Commercial Success for the Z2 The Zipit Z2 provides instant messaging services, while incurring no per-message fees. The device has received numerous national awards and praise by parents and analysts, including the iParenting Media Award in 2006 and 2008 for its ease of use and safety and the 2008 InnoVision Technology Development Award. The Z2 has garnered international press coverage and numerous industry awards and is available at over 200 Target stores across the U.S.
The youth communications market targeted by the Z2 is just one of many consumer applications that are moving quickly toward wireless connectivity. Because of its unique technology and capabilities, Zipit Wireless is well positioned to experience significant revenue growth as it pursues these new markets. The company is expanding and diversifying its connected device portfolio and expects to launch several new products in a variety of market segments including personal communications devices and burgeoning in new segments such as digital photo frames.
Zipit’s Z2 device was the winner of the 2007 DigitalLife Best of Show award for portable gear. It is now available on zipitwireless.com, BestBuy.com and Target.com.
SC Launch Support
Working together to make a difference and help grow South Carolina’s Knowledge Economy.
Industry Partnership Fund Fuels the Success of SC Launch SCRA provided a $12 million investment to fund the first three years of the program, and the Industry Partnership Fund (IPF) provides ongoing financial support for the years thereafter. The IPF contributions are used by SC Launch to support commercialization of intellectual property from university research foundations, assist entrepreneurs across the state, finance startup and spin-out companies, and provide incubation and business services to early-stage companies. Contributions to the IPF from individuals or corporations receive 100% credit against South Carolina state income taxes, insurance premium taxes and/or certain license fees. The individual limit is $2M and the aggregate limit is $6M. Any South Carolina taxpayer is eligible to contribute. Contributions are accepted on a first come, first served basis.
SC Launch Resource Partners - Providing Experienced Commercialization Services SC Launch collaborates with organizations that are willing to help create an ecosystem of support to help companies maximize their opportunity for success. SC Launch Resource Partners are experienced organizations committed to helping our SC Launch Companies succeed. Current SC Launch Resource Partners include:
BB&T Bauknight Pietras & Stormer, PA Byrum Innovation Group Carolina First Bank Carolina Soft ware As A Service CarterTodd & Associates Chernoff Newman Dority & Manning, PA Dynamic Exhibits
ECI – Find New Markets Elliott Davis, LLC McNair Law Firm McPherson, Berry & Associates, Inc Michael D. Layman, Attorney at Law, PA Nelson Mullins Riley Scarborough, LLP Ogletree Deakins Post No Bills, Inc. ProActive Technology PST Computer Training, Inc.
Strategic Marketing International (SMI) South Carolina Chamber of Commerce SC Manufacturing Extension Partnership (SCMEP) Trevelino/Keller Communications VC3 VantagePoint Wachovia Corporation Willcox Buyck & Williams, PA Wyche Burgess Freeman & Parham, PA
Knowledge Economists
SC Launch recognizes outstanding individuals in our society who contribute to the advancement of the Knowledge Economy.
A knowledge-driven economy generates and exploits knowledge and plays the predominant part in the creation of wealth. In South Carolina, the Knowledge Economy is growing around high-technology industries such as life sciences, advanced materials and alternative energy.
dynamic Knowledge Economy that will invigorate South Carolina business.
Key economic, society and political leaders understand the need to build a competitive,
Economists have always had a major impact on society. These experts have created society’s structures for transactions, including inventing the first Greek coins. As Aristotle wrote, we have researched “the science which has a purpose to help the people to increase their revenue.”
SC Launch Director Dave McNamara (center) with SCRA Knowledge Economist recipients Sam Konduros, President of SK Strategies (left) and Dr. Larry Gluck, Medical Director, Greenville Hospital System Cancer Center.
SCRA CEO Bill Mahoney (center) with Knowledge Economist recipients Dr. Ray Greenberg, President of the Medical University of South Carolina (left) and Bobby Pearce, Partner at Nelson Mullins.
SC Launch recognizes the individuals today who bring new life to this ancient heritage. These are leaders we recognize as Knowledge Economists. These Knowledge Economists help shape the future of South Carolina with successes in creating high-salaried technology jobs, nurturing new ventures and capital investment, and building equity in a globalized future.
SCRA CEO Bill Mahoney (right) presents a Knowledge Economist Award to Don Tomlin, President of Tomlin & Company, Inc.
SC Launch Financial information
Sources and Uses of
Funds
Industry Partner contributors receive a dollar-for-dollar tax credit for their ďŹ nancial support of SC Launch. The money is utilized for initiatives that will produce high ROI for the state.
SC Launch is an efficiently run program that began producing results quickly. SC Launch was established with very little money spent on start-up activities. The program began producing results quickly and has grown significantly since its formation in 2006. More than 125 companies are currently receiving support. SC Launch is an efficiently run program. The vast majority of program funds directly support the growth of South Carolina’s Knowledge Economy. Of the $12M of SCRA retained earnings commitment, $9.5M has been deployed to SC Launch programs and $2.5M to finance Innovation Centers. The balance of program funding comes from Industry Partnership Fund donations. The overall sources and uses of funds are depicted in the chart to the right.
86% of SC Launch money is used to support entrepreneurial companies.
SCRA Innovation Centers
SCRA Innovation Centers - Facilities for Knowledge-Based Start-up Companies SCRA is currently deploying three new innovation centers to accelerate business development and commercialization of research discoveries. While the creation of these facilities is funded exclusively by SCRA s retained earnings, SC Launch companies have priority access to them.
Anderson, SC
Columbia, SC
Charleston, SC
SCRA is partnering with Clemson University to design and build a new Innovation Center focused upon advanced materials applications research. The facility supports innovation companies in start-up modes. The new facility houses SCRA staff as well as other Knowledge Economy companies.
SCRA is providing a facility in Columbia designed to house high-tech companies emerging from research at the University of South Carolina and entering commercialization and light manufacturing stages. Clean energy technology companies enjoy priority access to the 72,000 square-foot facility.
SCRA has acquired a facility to support biopharma, biomed and biotech research and commercialization. The renovated building creates lab space as well as office space for medical and biotech start-up companies spawned from research at the Medical University of South Carolina.
Wet labs and world-class facilities are essential to establishing new knowledge-based companies and attracting landing parties. SCRA’s Innovation Centers answer this need in South Carolina.
SC Launch Results to Date
Results to Date Since inception in April 2006, the SC Launch program has had a significant impact on South Carolina s Knowledge Economy. Through collaborations with the research universities, the support of Resource Partners and members of the Circle of Innovation we have come together to make a difference.
Impressive and Accelerating Metrics of Success In a very short time, SC Launch has generated very favorable economic results for South Carolina’s Knowledge Economy. The ability of SC Launch companies to secure follow-on funding from venture capital sources is a key indicator that their participation in the SC Launch program helps them succeed. To date, more than $55M in follow-on funding has been secured by SC Launch companies.
Another measure of success is creation of highwage earning jobs. The average annual salary of jobs created by SC Launch companies is $77K, which is more than double the state average. Public support of SC Launch through the Industry Partnership Fund has been enthusiastic. Over 100 individuals and businesses became members of the Circle of Innovation in the past year through their contributions to the Fund. SC Launch has reached its contribution goal early every year since
its inception. These funds are currently being used to support and fund over 125 companies. The SC Launch SBIR/STTR Matching Grant Program has awarded grants to 12 companies. In addition to start-up company assistance, SC Launch focuses on bringing knowledge-based landing parties to the state. To date, SC Launch has helped five research and development landing parties relocate to South Carolina.
SC Launch Receives National and Regional Recognition for Economic Development The State Science and Technology Institute (SSTI) presented its 2008 Excellence in Technology-Based Economic Development Award to four recipients nationally, selected as best practice models in knowledge-based economic development. SC Launch was awarded in the category of the competetion for Building Entrepreneurial Capacity that emphasizes impact and replicability in building and sustaining tech-based economies.
SC Launch Director, Dave McNamara (left) receives a National Award for Building Entrepreneurial Capability.
“SC Launch demonstrates a balanced and broadbased approach to entrepreneurial support that effectively links together key resources within the state,” said Dan Berglund, SSTI President and CEO. “The judges were particularly impressed with the use and issuance of tax credits by the state to those contributing to the SC Launch Industry Partnership Fund. This is both innovative in approach and effective in addressing the ability to successfully sustain the initiative.”
www.sclaunch.org