The University of South Carolina’s Office of Innovation, Partnerships and Economic Engagement will create “South Carolina Rising,” a new statewide investment program to identify, qualify and provide equity investments to promising early stage technology companies based in South Carolina.
The fund will be established in partnership with the South Carolina Research Foundation using a newly awarded $400,000 grant from the U.S. Economic Development Administration’s (EDA) Office of Innovation and Entrepreneurship. It is part of the EDA’s “Build to Scale Capital Challenge Program.”
The EDA funds have already been matched by a group of local partners to build a sustainable pool of capital available to emerging, high-growth technology companies. The university will collaborate closely with organizations and firms that are actively investing in South Carolina companies and looking for investment opportunities that are a good fit with their investment capital and thesis.