South Carolina Research Authority

March 13, 2007: Tom Sweeny introduced Bill Mahoney, who was appointed CEO of SCRA in August of 2005 and brought 30 years of applied systems and technology business experience to the organization. He is a graduate of Harvard University and has been instrumental in a number of technology start-ups in the 80’s and 90’s. He took one company to $125 million and number one in its market in the entire world. Under his leadership and guidance, SCRA is both collaborating to advance technology in the private and public sectors with emphasis on defense.

Mahoney shared many examples of the accomplishments of SCRA in its collaboration with research universities, industry organizations, government and private enterprises. It is a recognized leader in innovation and has helped in growing the knowledge economy here and throughout the State. SCRA started with a $500,000 grant and a Legislative Act in 1983. Today its revenue is approaching $95 to $100 million, and this is especially commendable in a period of relatively flat R&D investment.

SCRA serves many different constituents, including the Department of Defense, Justice, Energy, Transportation, as well as industry and corporate partners across the United States and around the globe. National Partners we would recognize include Boeing, Lockheed Martin, and GM. South Carolina based partners include Reliance Electric, ESAB, Milliken, and SoPakCo.

As a not-for-profit organization, SCRA has been instrumental in using proceeds of their operations to assist the State in endeavors such as SC Launch! It leverages SCRA’s dynamic resources, which drive development for high growth technology companies, and generates knowledge economy jobs and enhances the State’s quality of life while providing strong employment prospects for South Carolinians in the knowledge economy. SC Launch!, a joint venture between SCRA and the Research Foundations at Clemson University, Medical University of SC, and the University of SC, is an example of that leverage in action.

A number of questions were focused on how SCRA was benefiting South Carolinians and Mahoney provided numerous examples, such as work in composites for our local Aerospace Cluster, as well as other projects with a broader reach, such as the Genetically Altered Crop Research that enables the development of alternative fuels without diverting traditional food; reducing our supply and increasing prices.

It was clear that the Legislative Act of 1983 and the $500,000 Grant have been developed into a “crowning jewel” for South Carolina. The investment continues to generate results with a return of $14.00 for every $1.00 invested, which is a return we all envy.

Submitted by Wayne Outlaw, Keyway Committee