Types of Support
The SC Launch program provides several funding opportunities to qualified companies who have been accepted into the program and aligned with the following industries: Advanced Materials/Manufacturing; Life Sciences; and Information Technology.
By bridging the gap from start-up financing to later-stage investments, SC Launch strengthens South Carolina’s Innovation Economy, thereby creating high wage-earning jobs.
SC Launch provides investments to qualified, board-approved companies. Companies must go through a rigorous due-diligence process and, if selected, must present to the SC Launch Board. Investment terms are dependent on each company, and matching raises or other conditions may exist in order to receive investment funding.
SC Launch awards matching funds to client companies that have been granted federal Small Business Innovation Research (SBIR) Awards or Small Business Tech Transfer (STTR) Phase I Awards. These grants are matched one to one with the agency award amount, up to $50,000 per company or as designated in the current fiscal year matching grant program solicitation linked below. A company can only receive one matching grant per solicitation year, and each company is limited to two SBIR Matching Grants in the company's lifetime.
The Academic Start-up Assistance Program (ASAP) is available to academic institution-sponsored commercial, forprofit, early-stage, technology companies. This program provides up to $15,000 in a 12-month period and $25,000 (cumulative during its lifetime) per company to develop technology and further research efforts. The company must be sponsored by an academic institution.
The Pilot Program for this new grant extends from January 2017 to December 2017. These grants are intended for South Carolina-based, for-profit, technology companies that are progressing well in early-stage development. During the Pilot Program a company may request a one-time award of up to $50,000. The deadline to apply is November 30, 2017.
Project Development Fund Grants
SC Launch provides community-based, early-stage development funding to qualified client companies. Project Development Fund (PDF) grants are typically between $12,500 to $25,000 (cumulative) per company.
Demonstration Projects must be applied for and subsequently approved by the SC Launch program.
SCRA and the SC Launch program assist more established technology companies in their relocation to the state. Relocation assistance is approved on a case-by-case basis.