Published May 7, 2014
Three Charleston area companies have been accepted into the SC Launch Program where they will receive business expertise and potential funding.
Go Where I Go, International BioMedical Devices and Vesseltek Biomedical LLC became client companies in April, according to Tuesday’s announcement by SCRA Technology Ventures. These companies will have access to SC Launch’s resource partner network, as well as potential seed capital and grant matches.
Go Where I Go is a social media application that enables users to refer friends to their favorite businesses. Thus far, 50 million businesses have been preloaded onto the app using Google Places. Businesses receive analytics on their referrals. The company is launching beta tests in Charleston and Memphis, Tenn., this month.
International BioMedical Devices, which formed from a partnership between an ophthalmic surgeon and an Israeli partner, is a medical device company focused on ophthalmic surgery.
It developed the ApertureRx System that allows a surgeon to perform a precisely sized and centered incision into the crystalline lens of the eye during cataract surgery. The plan is to manufacture the specialized tip in South Carolina.
Vesseltek is commercializing a prosthetic vascular graft that uses a patented coating to reduce restenosis, a narrowing of the blood vessels. Vascular grafts currently used in below-the-knee applications fail at a rate of about 70% due to clotting and chronic swelling, according to the company, which currently hold five patents.
“We are delighted to welcome these companies,” SC Launch Executive Director Greg Hillman said in a statement. “As part of our mission to lead the knowledge economy in South Carolina, we look forward to working with these promising companies and the contributions that will bring to our state.”
SCRA Technology Ventures provides support and mentorship through its flagship SC Launch program to early-stage, startup technology companies.
Since 2006, SCRA has deployed more than $79 million in funding and infrastructure to support more than 280 high-tech, early-stage enterprises and has directly invested over $18 million in S.C. startups.