The Medical University of South Carolina was recently named the best hospital in the state, but it isn’t slowing down.
Through the MUSC Foundation and MUSC Health supporting organizations, the university has launched two funds totaling $30 million to support entrepreneurs, increase innovation and grow economic development across South Carolina, according to a news release.
The 1824 Health Ventures Fund I and the South Carolina Health Innovation Fund will be managed by Bob Crutchfield, a senior executive with over 30 years of leadership expertise in startups and capital firms, the release said.
The SCHIF is a $10 million fund through partnership of MUSC Health and InvestSC, the State Small Business Credit Initiative, according to the release. Th fund will focus on high-impact health companies that are interested in growing and operating in South Carolina, whether or not they are MUSC-affiliated.
“By building an evergreen investment model, we’re laying the foundation for a durable and consequential innovation ecosystem across South Carolina,” Will Cruz, chief investment officer of InvestSC, said in the release. “Our participation in the South Carolina Health Innovation Fund reflects our commitment to investing in the assets that generate meaningful leverage statewide.”
Full story: MUSC launches $30M fund to boost SC health innovation – Charleston Business
