COLUMBIA, S.C.--(EON: Enhanced Online News)--SCRA, based upon its Technology Ventures sector and its SC Launch program, was presented with a Gold Excellence in Economic Development Award for Technology-Based Economic Development in populations over 500,000. The award focuses on economic development efforts that stimulate and support the growth of technology-intensive firms and sectors as the key drivers of prosperity in their communities. Given by the International Economic Development Council (IEDC), the honor was presented at a ceremony on Tuesday, October 8, during the IEDC Annual Conference in Philadelphia. SCRA has received an IEDC award in four of the last five years.
“The Excellence in Economic Development Awards recognizes SCRA Technology Ventures as being one of the leading organizations in the industry for innovation, creativity and successful strategies”
Awardees were selected based on: the extent of the economic impact on the community, achievement of its stated objective with measurable results, development of strong relationships with relevant players and widespread support in the community, innovation, originality and cost effectiveness and relevance and transferability of elements to other communities. Eligible programs must have been active for at least three years.
“The Excellence in Economic Development Awards recognizes SCRA Technology Ventures as being one of the leading organizations in the industry for innovation, creativity and successful strategies,” said IEDC chair, Paul Krutko. “These awards are meant to honor the organizations and individuals who are dedicated to making a positive change in their communities. This organization uses creative solutions and inventive ideas and offers other regions a wonderful example to learn and benefit from. The award represents an acknowledgment and appreciation for SCRA Technology Ventures’ dedication to continuous growth within itself, as well as improving the industry overall.”
SCRA Technology Ventures and its flagship SC Launch program help high-tech, start-up businesses grow through investments and mentoring. Since 2006, SCRA has deployed over $72 million in funding and infrastructure, supporting about 280 enterprises and directly investing nearly $16 million in South Carolina start-ups. SC Launch companies have received over $212 million in private, follow-on capital. SCRA Technology Ventures also supports commercialization and growth by facilitating the transfer of intellectual property and accelerating the transition of inventions to the marketplace.
“We are grateful to receive this prestigious award recognizing our efforts in technology-based economic development,” said SCRA CEO Bill Mahoney. “SCRA Technology Ventures and SC Launch play a crucial role in growing South Carolina’s Knowledge Economy, and we look forward to additional growth and successes.”
IEDC's Excellence in Economic Development Awards recognize the world’s best economic development programs and partnerships, marketing materials and the year’s most influential leaders. The 35 awards honor organizations and individuals for their efforts in creating positive change in urban, suburban and rural communities.
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 over $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 over $15.3 billion.
The International Economic Development Council (IEDC) is a non-profit membership organization serving economic developers. With more than 4,000 members, IEDC is the largest organization of its kind. Economic developers promote economic well-being and quality of life for their communities, by creating, retaining and expanding jobs that facilitate growth, enhance wealth and provide a stable tax base. From public to private, rural to urban, and local to international, IEDC’s members are engaged in the full range of economic development experience. Given the breadth of economic development work, our members are employed in a wide variety of settings including local, state, provincial and federal governments, public private partnerships, chambers of commerce, universities and a variety of other institutions. When we succeed, our members create high-quality jobs, develop vibrant communities and improve the quality of life in their regions.