South Carolina is small, but mighty. It is a relatively small state, but it has a mighty innovation ecosystem. I encourage any entrepreneur, researcher, or investor to choose South Carolina as a place to develop and grow innovation. I’m incredibly proud of what’s being created and nurtured in this state, and my goal is to ensure others know, too.
We have an abundance of innovators bringing new solutions and improvements into the marketplace from our colleges and universities and from the many entrepreneurial accelerators and incubators around the state. Our mighty ecosystem is filled with the resources innovators need to grow their businesses and create high-paying jobs.
According to the 2024 TCGen Innovation Index which ranks innovation by several factors including per capita research and development, per capita venture capital, Small Business Administration funding, small business creation, and patents created, South Carolina is ‘in the pack’ of states with a thriving innovation ecosystem.
At the South Carolina Research Authority, we have the honor and pleasure of standing at the intersection of all the components needed to drive innovation. Our organizational vision is that ‘SCRA will be a leading catalyst in making South Carolina the first choice for technology-focused industry, entrepreneurs, and academics.’ We wholeheartedly embrace this vision.
A vibrant ecosystem must include: academic research and development and universities with strong technology transfer programs; bold founders to create and commercialize innovation; industry partners who are open to not only developing and fostering innovation in house but also partnering with academia and entrepreneurs; funding sources and incentives at the local, state, and federal levels; investors who recognize the strength of the startups within that ecosystem; world-class facilities to house innovation; and a plethora of other key contributors such as vibrant entrepreneurial support organizations. Our state has a strong foundation in each of these areas, but we are not satisfied with the status quo. Multiple efforts are underway to take each of these key elements to the next level.
We believe so strongly in the strength of our state’s innovation ecosystem that, for the first time, we’re including our external partners in our three-year strategic plan as partners in the achievement of our primary goals. This is a strong show of confidence and a recognition that these partnerships area vital component to our success.
