SC Launch Presents "Big Check" Investment to Two South Carolina Companies
Madeira Therapeutics and EnviroMix Receive Investments
COLUMBIA, S.C., May 11, 2011 /PRNewswire-USNewswire/ -- SC Launch, an SCRA affiliate, today announced that two client companies received big check investment during the InnoVenture Southeast Conference in Greenville, SC. Madeira Therapeutics and EnviroMix, both technology-based start-ups located in the Charleston area, received SC Launch investment for their promising technology and business model.
Madeira Therapeutics was founded to develop new pharmaceutical products for unmet medical needs in the pediatric population. Madeira Therapeutics strives to ensure drug safety and efficiency for intended patients in the pediatric setting.
EnviroMix offers new standards for the water and wastewater industry. The company's patented technology offers comprehensive processes that enable treatment plants to operate more efficiently with a portfolio of hardware and software solutions. EnviroMix technology solutions provide uniform mixing, save energy, and help drive down operation and maintenance costs in critical treatment processes.
"Given the overwhelming need to reduce energy costs among the 16,000 facilities in the US alone, we are experiencing significant interest in our technology solutions," said EnviroMix CEO, Ted Jenkins. "We would like to thank SC Launch for this investment and support as we are looking to accelerate our presence in the market."
The big check presentations took place during the InnoVenture Southeast Conference. In its fifth year, the conference showcases the most promising high growth technology companies from the Southeast region to a national audience of hundreds of private equity professionals and venture capitalists that represent over $80 billion in private equity investment capital.
"We are delighted to have the opportunity to support these companies," said SCRA Executive Vice President and SC Launch Executive Director Dave McNamara. "What better place than InnoVenture to acknowledge these promising companies and the technology that they bring to market."
SC Launch also acknowledged a milestone for Portfolio Company CareCam Innovations. The Greenville-based company announced during the conference the addition of David Butler to the CareCam Innovations Advisory Board. Mr. Butler previously served as Deputy Associate Administrator for Operations and Resource Management at the Health Care Financing Administration (HCFA) which is now known as The Centers for Medicare & Medicaid Services (CMS).
"It is an honor and privilege to have Mr. Butler as a member of our Advisory Board," said CareCam Innovations President Shannon Pierce. "We feel that he will be a wonderful addition to the CareCam team and look forward to his input and expertise as the company continues to move forward."
"Today's events are evidence of the dynamic and ever-growing business opportunities we are shaping in South Carolina," said SCRA CEO Bill Mahoney. "The SC Launch program continues to identify and support these emerging businesses so that South Carolina may truly benefit and recognize economic gain through our own homegrown efforts."
Since its inception by SCRA in 2006, and with initial funding of $12 million in SCRA earnings, SC Launch has supported and funded 188 companies in SC, helped draw 11 landing parties to the state, provided business services to 230 early stage companies in SC through a powerful Resource Network and helped position emerging South Carolina companies to secure more than $104 million in follow-on funding from angel, venture and other private capital sources. SC Launch has been recognized regionally, nationally and internationally for leadership in entrepreneurial support and technology-based economic development.
SCRA is a global leader in applied research and commercialization services with its headquarters in South Carolina. SCRA has a dual mission:
To advance the Knowledge Economy - SCRA affiliate SC Launch is an economic development program that helps early-stage companies to commercialize innovations and create jobs. Learn more at www.sclaunch.org.
To deliver technology solutions to complex challenges - SCRA affiliate Advanced Technology International (ATI) leads applied research collaborations that develop technologies to improve the mission effectiveness of Federal agencies and the business execution of Corporations. Learn more at www.ati.org.
In support of both missions, SCRA builds and manages research facilities that include wet labs, secure rooms for sensitive work and advanced high-tech manufacturing shops.