SCRA Releases Annual Reports
Continues to Grow High-tech Economy in South Carolina
Summerville, SC - SCRA today released its two 2015 annual reports outlining the company's overall successes and the achievements of its SC Launch program. The SCRA Annual Report summarizes the many accomplishments of the company. The SC Launch Annual Report outlines the success of the standout economic development program, focusing on eight of its client and portfolio companies.
Fiscal year metrics include that SCRA's operations have created over 1 million square feet in research infrastructure, invested over $74 million in research parks and innovation centers and generated a cumulative $19.5 billion economic output to South Carolina's economy. SCRA's SC Launch program supports approximately 313 high-tech, early-stage enterprises. The program has invested over $21 million in its top 78 South Carolina start-ups, which have since attracted over $362 million in add-on, private investment.
"Our annual reports showcase how SCRA has continued to fulfill its public mission to generate and foster innovation in South Carolina," said SCRA CEO Bill Mahoney. "We thank our partners and clients for their commitment to innovation and look forward to further advancing our state's high-tech economy in the future."
SCRA is a self-sustaining non-profit applied R&D company that grows the technology-based economy in South Carolina by commercializing intellectual property and supporting and making investments in early-stage companies. Multiple economic impact studies show our cumulative output into South Carolina's economy to be over $19.5 billion since 1983, creating approximately 15,000 technology-related jobs with annual wages averaging between $55,000 and $79,000.
In the last decade, SCRA has generated and deployed over $380 million in direct cash investments in SC's high-tech economy - to R&D infrastructure, startup investments and programs - assisting over 700 South Carolina companies and making $100 million in university-related initiative investments. To date, SCRA-supported companies have received over $400 million in add-on private capital following SCRA investments.