SCRA has provided $1 billion of follow-on capital to 140 SC Launch client companies over 12 years, according to a news release.
SC Launch is SCRA’s entrepreneurial program that provides mentoring, grants and access to investments for qualified, South Carolina-based, early-stage companies. Angel investors, venture capital funds and corporate investors are the main source of follow-on funding secured by SC Launch companies, the release said.
“Our job, and our passion, is guiding companies to the next stage in the entrepreneurial life cycle and seeing them through to success,” Bob Quinn, SCRA executive director, said in the release. “The funding provided by SC Launch is vital in enabling our client companies to overcome many of the barriers faced by early-stage enterprises. However, void of follow-on funding, these companies often flounder. Therefore, we are thrilled to be celebrating this $1 billion milestone.”