SCRA releases fiscal report for Technology Ventures sector

The South Carolina Research Authority (SCRA), a self-sustaining nonprofit applied research and development company, recently released fiscal year 2015 results for its Technology Ventures sector.


The South Carolina Research Authority (SCRA), a self-sustaining nonprofit applied research and development company, recently released fiscal year 2015 results for its Technology Ventures sector.

"In (fiscal year) '15, the SC Launch program accepted 26 high-tech companies into the program, providing mentoring, support services and the potential for funding through investments or grant matches," an SCRA release said. "Throughout the year, 21 SC Launch companies received matching grants and 14 received portfolio investments, with SC Launch companies attaining $59.96 million in additional investments from outside venture and capital groups.

"The year also brought a major Stage 2 investment in Upstate-based Integrated Biometrics," the release said. "SCRA’s Stage 2 sponsors larger investments, from $1 million to 5 million, in more mature South Carolina-based technology companies, investing its capital together with outside, private co-investors."

SCRA Technology Ventures’ year-end results clearly indicate SCRA’s fulfillment of its public mission to foster high-tech economic development in South Carolina, SCRA chief executive officer Bill Mahoney said.

“Our Stage 2 affiliate is providing South Carolina companies with increased access to capital, supplementing our SC Launch program’s investments and growing the technology-based economy," he said. "I look forward to building upon these outstanding results in the upcoming fiscal year.”

For the complete report or more information about SCRA, visit www.scra.org.

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