Columbia, SC - The South Carolina Research Authority (SCRA) proudly hosted its annual SCRA Summit, a day-and-a-half event that showcases and celebrates the innovation ecosystem in South Carolina. This year’s event centered around the theme Founders First, honoring the dedicated efforts of entrepreneurs who are driving growth in the state’s innovation economy.
In 2024, SCRA contributed over $1.3 billion to the state’s economy, supporting 6,600 jobs with salaries nearly 71% higher than the state average.
The event featured six standout startup companies based in South Carolina, each exemplifying creativity, passion, and resilience helping shape the state’s future. The Founders First theme highlights the importance of founders in cultivating innovation, creating jobs, and fostering economic growth across the Palmetto State.
"The SCRA Summit is an incredible opportunity for us to recognize the visionary entrepreneurs who are building the next wave of innovation in South Carolina," said SCRA President and CEO, Bob Quinn. "We are proud to support the diverse range of startups and founders who continue to push boundaries, develop new technologies, and grow our state’s economy.”
“With our new brand, Launch to Legacy, we are really placing a flag and a stamp, being known as the new home of American Innovation because South Carolina is absolutely leading the charge,” added Ashely Teasdel, Deputy Secretary of Commerce. “Innovation has always been a cornerstone of our state’s economic growth, and SCRA continues to be a driving force in propelling South Carolina forward.”
This year’s summit also showcased real-world examples of how innovation rises to meet local needs. As South Carolina’s manufacturing sector expands, researchers at Clemson University partnered with Boeing to solve a pressing challenge: reducing lower back injuries, the leading
cause of harm in manufacturing. SCRA contributed $50,000 in a demonstration grant to go toward Clemson’s research of the Apex 2 Exoskeleton – now actively used in Boeing’s Dallas warehouse. A live demonstration of this cutting-edge technology took place during Tuesday’s press conference.
Other impressive homegrown innovators featured to present their products ranged from lifesaving health products (BabyStrong, PensieVision, HealthEvolve) to sustainable packaging that will cut plastic waste (Bubble Paper) and transportation solutions (Boyd Cycling).
These South Carolina innovators are trying to solve both problems here at home and ultimately, nationwide and even internationally. BabyStrong's first trial at MUSC was so successful, the company now has another grant from the National Institutes of Health to conduct its next second phase of research. Pensievision is conducting its study using its patented single-lens 3-D imaging technology in Africa and hopes its findings and its camera will help with cervical and skin cancer screenings in rural parts of South Carolina. Pensievision is also partnered with NASA and Space X and will also see its camera go to the International Space Station.
“SCRA has been instrumental in helping us grow by providing not only funding but also access to a strong network of mentors, resources, and industry connections,” said Nicole Johnson with Boyd Cycling. “Their support gave us the confidence and runway to scale our business in meaningful ways. Being an entrepreneur in South Carolina means having the backing of a growing innovation ecosystem with a collaborative spirit — it’s a place where people genuinely want to see you succeed.”
Boyd Cycling is a craft wheel manufacturer that hand builds all of its wheels in Greenville. They also manufacture alloy rims in-house. Their mission says they are “dedicated to delivering the highest quality to riders, shops, distributors, and bike brands throughout the world.” Since 2016, they’ve received $500,000 from SC Launch Inc., the investment subsidiary of SCRA.
In 2024, SCRA also provided over $5.22 million in funding to member companies, portfolio companies, and academic institutions. SCRA's success stories include companies like Heartbeat Technologies and Victory ExoFibres, which are innovating across various industries.
SCRA also hosted a fireside chat to highlight the success of collaborations between entrepreneurs, industry, and academia. It emphasized the tremendous impact of innovative local startups and cutting-edge technologies; driving the state’s economic growth.
The summit also hosted workshops for entrepreneurs to fine-tune their pitch and learn about start up success stories.
About SCRA
SCRA was chartered in 1983 by the South Carolina State Legislature to support entrepreneurs and technology startups through grant funding, coaching, and investing through SCRA’s investment affiliate, SC Launch Inc. Their sectors of focus include advanced manufacturing and materials, information technology, life sciences, clean tech, sustainability and resilience. SCRA’s vision is to help South Carolina become the first choice for technology-focused industries, entrepreneurs, and academics.
