The USC Columbia Technology Incubation Program is currently home to both regular and student companies. Since its inception in November 1998, the Incubator has provided opportunities for entrepreneurs to commercialize their ideas and produced successful, financially viable businesses, in addition to creating hundreds of additional jobs in the community.
The mission of the USC/Columbia Technology Incubator is to increase the vitality of the regional economy by recruiting and nurturing start-up companies that advance technological development, employ highly skilled workers and contribute to the economic development of the area. Our vision is to represent a best-in-class environment in the Southeast that provides nurturing and support for the development of home-grown, Greater Columbia area companies based on the knowledge-based technology-related research, intellectual property, teaching and support of USC and MTC.
To date, 23 companies have graduated from the incubator program. These companies have created 478 new high paying jobs in the Columbia market with average salaries exceeding $60,000. The incubator's six graduation ceremonies have been highly publicized in the local media and also in the Wall Street Journal. To date, the incubator program has helped create 642 jobs, 173 of which are occupied by minorities. These numbers represent the total number of jobs created by current and post-graduate companies. At this time, there are 51 companies (16 minority companies) in the program.
Student Companies: Each year the University of South Carolina Student Government and Midlands Technical college organize business plan competitions for students that have business ideas. The winners that are accepted into the Incubator's Student program receive $1,000 in start-up capital, an office, a computer and a phone line, all free of charge. The program is open to USC or Midlands Technical College undergraduate or graduate students interested in starting a company. Standard Companies: For USC Professors, USC staff, or non-USC individuals interested in starting a company. These companies must be technology companies, have a written business plan and need to interact with the University of South Carolina and/or Midlands Technical College. Landing parties: Companies anywhere in the United States or from around the world that wish to move (or open a subsidary) to Columbia, SC and need the University of South Carolina or Midlands Technical College interaction. This program includes the International Business Center sponsored by the City of Columbia.