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Five SC Launch portfolio companies will be recognized tonight for achieving milestones that qualify them for a second round of funding, which if approved will total $1 million. Innegrity, Kiyatec, Selah Technologies, SensorTech and Zipit Wireless will be honored at the Next Innovation Center grand opening ceremony tonight at 7 p.m.
GSA Daily Staff Report
Published Sept. 15, 2009
Five SC Launch portfolio companies will be recognized tonight for achieving milestones that qualify them for a second round of funding. The total, combined funding to these five Upstate start-up companies, pending final approval, is $1 million.
Innegrity, Kiyatec, Selah Technologies, SensorTech and Zipit Wireless will be honored at the Next Innovation Center grand opening ceremony tonight at 7 p.m.
Since the initial $200,000 SC Launch investment in 2007, Zipit has received $4.5 million in funding from Windspeed Ventures, SunBridge Partners and Meritus Ventures LP.
The Upstate Carolina Angel Network has invested in both Selah Technologies and SensorTech. A private Upstate firm is investing in Kiyatec.
The 60,000 square foot Next Innovation Center, located in downtown Greenville, was designed to accommodate growth, offer affordable rent, provide diverse suite types and sizes, and offer ready access to Upstate technology entrepreneurs. The center was created by the Greenville Chamber of Commerce, the city of Greenville, Hughes Development Corp. and Next LLC.
“The Next Innovation Center was conceived and designed by small, start-up firms, innovators and fast-growth companies to specifically address their requirements,” said Robert Hughes Jr., president of Hughes Development. “It is a symbol of Greenville’s new innovation economy.”
Tonight South Carolina Research Authority CEO Bill Mahoney will present Hughes with a Knowledge Economist award. The award recognizes South Carolina leaders who have made significant contributions to the state’s knowledge economy, which creates high-salaried technology jobs and nurtures new ventures and capital investment.
“South Carolina’s strength depends upon a robust and vigorous knowledge economy, where the value of the mind shapes the successful profile of progress and great prospects for the future,” Mahoney said.
SCRA has provided funding and support for more than 130 new knowledge-based start-ups in South Carolina since the inception of its SC Launch program in April 2006.
Ben Haskew, president of the Greenville chamber, said the Next Innovation Center is modeled after the Dublin Digital Hub in Ireland, which chamber members visited in a 2007 trip.
“Upstate leaders were inspired by this community of researchers, artists, entrepreneurs and consumers, who all work together to create successful products and services that support their future,” he said.
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