Tech Catalyst Fund

The Tech Catalyst Fund is a competitive grant program administered by the South Carolina Research Authority (SCRA) on behalf of the South Carolina Department of Health and Human Services (SCDHHS). It operates as one of five initiatives under the Rural Health Transformation Program, a federally funded effort led by the Centers for Medicare and Medicaid Services to improve healthcare access, outcomes, and system sustainability in rural communities. South Carolina’s program is part of a broader national investment to modernize rural healthcare systems, with the state receiving over $200 million in funding to implement targeted strategies addressing chronic disease, workforce shortages, and infrastructure limitations. The primary purpose of the Tech Catalyst Fund is to accelerate innovation by supporting early-stage medical technology and digital health startups that are developing consumer-facing solutions to improve rural health access and outcomes. The program specifically prioritizes technologies that address chronic disease prevention and management, expand care delivery in underserved areas, and demonstrate meaningful differentiation from existing solutions. By focusing on scalable, technology-driven innovations, the fund aims to stimulate both health improvements and economic growth within South Carolina’s rural communities. Funding is provided as non-dilutive capital, meaning recipients are not required to give up equity in exchange for support. Awards are performance-based and tied to clearly defined milestones and measurable outcomes. The program has a total funding pool exceeding $5 million, with individual awards generally capped at $500,000, although higher awards up to $750,000 may be considered. Funds must be used within a 12-month performance period and fully expended by September 30, 2027. Allowable uses focus on advancing technology development and deployment, while restrictions prohibit expenses such as construction, reimbursement of past costs, lobbying, and duplication of reimbursable clinical services. Eligibility is limited to U.S.-based, for-profit companies that are less than 10 years old and have raised under $50 million in prior funding. Applicants must be registered to do business in South Carolina and must be developing technology solutions that directly deliver or enable care for rural populations. Additional requirements include a minimum technology readiness level of 5, at least one full-time team member, and a demonstrated focus on unmet rural health needs. Preference is given to companies headquartered in South Carolina or with a significant in-state workforce presence. The application process is structured in multiple stages, beginning with an initial application that requires submission of a completed application form and a detailed budget workbook. Optional materials at this stage include a pitch deck and letters of support, though these become mandatory if the applicant advances. Selected applicants proceed to a due diligence phase, where they must provide comprehensive documentation and may participate in review meetings. Finalists are invited to present during Pitch Days, where they deliver a timed presentation and respond to questions from a review committee. Evaluation is conducted by a Review Committee composed of experts in healthcare, technology, and investment. Applications are assessed based on criteria such as the significance of the problem addressed, the innovation and feasibility of the proposed solution, team capability, market readiness, and potential for measurable health outcomes. The process culminates in funding recommendations, which are subject to final approval by SCDHHS and CMS. Successful applicants receive a formal Notice of Award and enter into a contractual agreement outlining reporting requirements and performance expectations. The timeline for the current funding cycle includes an application window opening on May 27, 2026, and closing on June 25, 2026. Due diligence occurs between mid-June and early July for invited applicants, followed by Pitch Days in mid-to-late July. Awards are expected to be announced in August. The program is structured as a recurring initiative within the broader Rural Health Transformation Program, though specific future cycles are subject to funding availability and program continuation.

Focus on demonstrating unmet rural health need, clear differentiation from existing solutions, and measurable health outcomes; ensure milestones and budget align tightly with deliverables; prepare strong pitch and data room materials for due diligence