SCRA's Technology Ventures Program Presents "Big Check" to CareCam Innovations
Greenville, SC – May 8, 2012 –SCRA’s Technology Ventures sector, which manages the commercialization and economic development program SC Launch, presented a “big check” investment today to CareCam Innovations at the InnoVenture Annual Conference in Greenville, South Carolina. The investment is the second made to CareCam by the SC Launch program.
CareCam Innovations is a Greenville-based company formed to equip people for care. The company’s vision is for their patented care centric video system to become the standard of health care documentation.
CareCam’s solutions create an accurate, comprehensive, instantly retrievable record while decreasing the documentation burden on the providers. The scalable system, currently in feasibility test phase, is receiving great response. CareCam improves work flow and safety and is predicted to improve overall quality of care.
The company’s President and Founder is registered nurse Shannon Pierce.
"We are honored to accept this investment from SC Launch,” said Pierce. “We continue with vigor because we are confident we will make a meaningful difference for patients, providers, payers and our partners. The support available to us as an SC Launch portfolio company has certainly made us stronger and equipped us for pioneering the path ahead.”
SC Launch supports the development of innovative South Carolina-based companies and South Carolina’s Knowledge Economy. Since its inception by SCRA in 2006, SC Launch has supported and invested in hundreds of companies, helped draw 12 landing parties to the state, provided business services to 251 early stage companies in SC through a powerful Resource Network and helped position emerging South Carolina start-ups to secure more than $185 million in follow-on funding from angel, venture and other private capital sources.
“CareCam Innovations is a promising company that has demonstrated a great ability to move their first product through the commercialization process," said SCRA CEO Bill Mahoney. "We are delighted to present this investment to the CareCam Innovations team and look forward to their continued successes and contributions to the state’s Knowledge Economy."
SCRA is an applied research corporation with over 29 years of experience delivering technology solutions with high returns on investment to federal and corporate clients. To fulfill our mission, SCRA has three sectors: Our Technology Ventures sector helps early-stage companies to commercialize innovations and create jobs, our Applied R&D sector manages over 100 national and international programs worth over $1.5 billion in contract value and our R&D Facilities sector builds and manages research facilities that include wet labs, secure rooms for sensitive work and advanced high-tech manufacturing shops. Multiple economic impact studies show SCRA’s cumulative impact on South Carolina’s economy to be over $14 billion.