|By Business Wire||
|March 14, 2014 03:34 PM EDT||
SCRA today released its two 2013 annual reports outlining the company’s overall successes and the achievements of its Technology Ventures’ SC Launch program. The SCRA annual report summarizes the many accomplishments achieved throughout 2013 in the Technology Ventures, Applied R&D and R&D Facilities sectors, plus the cross-sector operations that support the company, its clients and partners. The SC Launch Annual Report outlines the success of the standout economic development program, focusing on eight of its client and portfolio companies.
In its 30 year history, SCRA has grown significantly, with record revenues of $266 million achieved in 2013, up 37 percent from last Fiscal Year. Funded backlog was up 15 percent and total backlog was up 11 percent. All numbers indicate strong sustained Applied R&D business, the proceeds of which will enable ongoing incremental execution of SCRA's Public Mission in technology-based Economic Development. Since 2006, SCRA has deployed over $75 million in funding and infrastructure to support approximately 280 high-tech, early-stage enterprises. SCRA has also directly invested over $18 million in its top 60 South Carolina start-ups, which have attracted over $260 million in add-on, private investment.
“Our annual reports outline the substantive outcomes our company has delivered throughout the past year,” said SCRA CEO Bill Mahoney. “SCRA continually fulfills our dual mission through delivering high-tech solutions to our federal and corporate clients and ensuring South Carolina’s Knowledge Economy gains strength. SC Launch companies are growing and maturing, ultimately generating high returns and high-wage jobs for the state. We thank our business, university, economic development and government clients for their commitment to our programs, and we look forward to incrementally applying technology and growing our state’s Knowledge Economy.”
SCRA is an applied research corporation with over 30 years of experience delivering technology solutions with high returns on investment to federal and corporate clients. To fulfill our mission, SCRA has three sectors: Our Technology Ventures sector helps early-stage companies to commercialize innovations and create jobs, our Applied R&D sector manages national and international R&D programs worth nearly $2 billion in contract value and our R&D Facilities sector builds and manages research facilities that include wet labs, secure rooms for sensitive work and advanced, high-tech manufacturing shops. Multiple economic impact studies show SCRA’s cumulative output on South Carolina’s economy to be $15.3 billion.
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