December 4, 2014

SCRA Technology Ventures Announces Investment Approvals

Staff Report  /  Charleston Digital Corridor

Two Charleston based tech businesses, one based at the Charleston Digital Corridor's Flagship2 facility, have received funding from the SCRA Technology Ventures' SC Launch program - Wave Sciences and GWIG. These are the first rounds of SC Launch funding for both companies.

Wave Sciences is a pioneer of hearing assistive technologies and digital audio noise reduction software, which grew out of the law enforcement and safety portion of its business. Wave Sciences is now expanding its product portfolio to address the hearing aid and consumer electronics markets. 

Their wearable hearing technology represents an innovative and disruptive approach to addressing the needs of juveniles, adults, and seniors with hearing impairments and their new collaboration with Clemson University's Materials Science and Engineering department in apparel research has the potential to make using its technology as simple as getting dressed.

"We are delighted to receive this investment from SC Launch and for all the support they've given to us along the way since starting our company," stated Wave Sciences Founder and President Keith McElveen. "Wave Sciences is revolutionizing hearing aid and personal sound amplification products by re-imagining them as pieces of clothing, which makes them more powerful and comfortable at the same time."

GWIG uses a streamlined digital referral application that provides the ability for users to refer friends to their favorite businesses as well as providing businesses with analytics on their referrals. The company has over 4,000 application downloads, 1,085 unique businesses have been referred and over 4,500 referrals have been passed from coast to coast.

"With access to analytics that GWIG provides, small business owners have the ability to engage with current and potential customers like never before," said Chris H. Cooper, chief operating officer of GWIG. "As businesses use GWIG's information to interact with interested potential customers, as well as thank existing loyal ones, they are able to create and grow strong relationships with positive long-term returns on investment."

"These investment approvals show our continued commitment to growing high-tech jobs in South Carolina," said SCRA CEO Bill Mahoney. "We look forward to future accomplishments and continued partnerships with these innovative companies."