Access: Fueling the State’s Innovation Economy

ACCESS

fueling the State’S Innovation economy

South Carolina Research Authority’s mission is to fuel South Carolina’s innovation economy. Propelled by this mission, SCRAsupported startups and academic research and development teams achieved growth in several ways during 2022. They added staff, new jobs, increased salaries, worked in state-of-the-art facilities, and gained access to millions of dollars in funding for additional research and development. South Carolina’s economic strength is due in part to SCRA’s programs and services. SCRA’s DEI outreach is also having a positive impact on our pipeline strategies. SCRA staff are investing their time and resources in chamber of commerce programs around the state that are mentoring and growing minority-owned businesses. SCRA is also providing financial support to help sustain these initiatives, including programs at the Charleston Metro Chamber of Commerce and the Columbia Chamber of Commerce. One 2022 success story is SCRA’s collaboration and partnership that helped Benedict College win a matching grant ($525,000 in federal funds matched with $525,000 in local funding) from the U.S. Department of Commerce Economic Development Administration’s Build to Scale Venture Challenge. The award will help the Columbia-based HBCU organize, launch, and operate a statewide investment accelerator program for underrepresented groups and minorities in the early stages of entrepreneurship. The accelerator is recruiting five startups in each cohort and will operate two cohorts per year, both for 12 weeks. Startup founders will work on business and value propositions and business modeling, connect with mentors, customers, and investors, and acquire fundraising skills to achieve business milestones.

Benedict College

Read on to see more stories celebrating the access SCRA’s mission is providing to the state’s best and brightest tech startups and research and development teams that are making South Carolina a fertile innovation destination.

We’ve had multiple rounds of funding from SCRA and some of those initial rounds of funding really helped determine what our entry-level product would be. One grant, in particular, was very pivotal for our success, and it was the COVID-tech grant. SCRA has been incredible with helping us take this thing to the next level as we release a nationally recognized commercial product and have been instrumental in walking alongside us down that path.”

Amanda Clark, CEO, PulManage

TABLE OF CONTENTS

From the Chairman and Executive Directors.............................. 2 About Us ....................................................................................... 4 Access: Fueling the State’s Innovation Economy ...................... 6 FY21 Impact Metrics ................................................................... 8 Year in Review ............................................................................ 10 Programs ............................................................................... 12-27 Academia................................................................................ 12 Facilities.................................................................................. 16 Industry ................................................................................... 20 SC Launch............................................................................... 24 Financials .............................................................................. 28-29 Leadership............................................................................. 30-34 SCRA Board ................................................................................ 30 SC Launch Inc. Board............................................................. 32 Staff Leadership ..................................................................... 33 SCRA Business and Science Advisory Boards ..................... 34