Economic Development | Non-State Funding | Technology Transfer | Start-Up Companies

Non-State Funding
 

For every dollar invested by the State of South Carolina, the SmartState Program has returned $6 in non-state investment. More than $1.2 billion in investment from private and federal sources has entered South Carolina’s economy because of the SmartState Program. Here are other impressive facts:

  • In 2010 alone, SmartState research team grants resulted in more than $50 million entering the state.
  • The program has attracted industry-match dollars from Bank of America, BMW, Fluor, Michelin, Roche Carolina, Timken, Sun Microsystems, and a number of other companies, along with grants from major foundations.
  • Global medical giant Smith & Nephew announced a $5 million investment in USC's Rehabilitation and Reconstruction Science Center to develop tissue-engineered materials and implantable devices.
  • The Duke Endowment awarded a three-year $21 million grant to Health Sciences South Carolina, enabling it to provide non-state funding for SmartState Endowed Chairs and establish the Healthcare Quality and Clinical Effectiveness Centers. The grant is the largest ever made by the 82-year-old private foundation's healthcare division and will help propel South Carolina into the forefront of research on patient safety, clinical effectiveness, and quality of healthcare.
  • Dr. Kenneth Reifsnider of the Solid Oxide Fuel Cells Center and his team of mechanical and chemical engineers were awarded the largest research grant in the history of the University of South Carolina, $12.5 million. The grant will create one of 31 national Energy Frontier Research Centers (EFRC) sponsored by the U.S. Department of Energy.
  • SmartState Endowed Chairs were instrumental in helping MUSC win two $20 million grants, one from the National Science Foundation and the other from the National Institutes of Health.
  • The Proteomics Center is affiliated with the MUSC Proteomics Center, which received the largest competitive extramural research award ever awarded in the state ($18.7 million).
  • A $7 million grant from the FCC was awarded to the Healthcare Quality Center. The funding will go toward enhancing rural health care through telecommunications and information services.