SCRA receives award for economic development

SCRA, a provider of applied research and commercialization services in South Carolina, recently received an Honorable Mention for Excellence in Economic Development from the International Economic Development Council.

“We recognize SCRA for providing successful strategies to promote new paradigms in economic development in this period of global recovery,” said William Best, IEDC chairman. “Our awards honor organizations and individuals for their efforts in creating positive change in communities. SCRA is showing that they are at the forefront of the economic development profession and are using innovative and effective practices that can be replicated in other communities.”

SCRA was recognized for their Sustaining Regional and Cross-Border Collaborations in the category of Regionalism & Cross-Border Promotion for communities with populations of greater than 500,000.

SCRA currently manages over $1.4 billion in applied research and development contracts on behalf of federal and corporate clients. Many of these programs utilize unique SCRA business models to manage inter-company collaboration.

SC Launch, an SCRA program, offers assistance to early-stage companies, including funding, mentoring, and access to other important resources for emerging technology ventures. This program was similarly recognized by the IEDC in 2009.

SCRA is establishing three Innovation Centers to complement the research focus of the state’s three research universities. These centers provide space for early-stage companies commercializing university research findings.

SCRA also manages the S.C. Experimental Program to Stimulate Competitive Research program, a federal-state-university partnership that helped to secure a $20 million National Science Foundation research award, the largest single competitive NSF award in the state’s history.

“SCRA strives for excellence in all of our programs, offering tangible results for our clients and partners,” said SCRA CEO Bill Mahoney. “We continue to build and manage programs that support creation and development of the knowledge economy in South Carolina.”