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Mobile app company receives $200k from SC Launch

South Carolina Business Review
SC Public Radio

If you are one of our regular listeners, you’ve probably heard us mention SC Launch, which is part of the South Carolina Research Authority, a public nonprofit organization funded by our state and corporations. SC Launch’s goal is to help provide seed capital and guidance to promising start-ups here and the way that normally works is that the start-up receives an initial $25,000 grant and access to entrepreneurial resources. Then, if progress looks promising, SC Launch offers to make an actual investment into the company, such as what happened recently with our next guest’s company which received $200,000 to help them further their mobile app business. Mike Switzer interviews Matt Hudson, CEO of Bildit in Indian Land, SC.

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After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.