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The Medical University of South Carolina board of trustees voted to approve the project planning phase and endorsed a letter of intent between MUSC and Clemson University to develop a new facility to deliver expanded student and employee health services on Clemson’s main campus. (Photo/DepositPhotos)|The Medical University of South Carolina board of trustees voted to approve the project planning phase and endorsed a letter of intent between MUSC and Clemson University to develop a new facility to deliver expanded student and employee health services on Clemson’s main campus. (Rendering/McMillan Pazdan Smith)
The Medical University of South Carolina board of trustees voted to approve the project planning phase and endorsed a letter of intent between MUSC and Clemson University to develop a new facility to deliver expanded student and employee health services on Clemson’s main campus. (Photo/DepositPhotos)|The Medical University of South Carolina board of trustees voted to approve the project planning phase and endorsed a letter of intent between MUSC and Clemson University to develop a new facility to deliver expanded student and employee health services on Clemson’s main campus. (Rendering/McMillan Pazdan Smith)
MUSC launches $30M fund to boost SC health innovation
Hollie Moore // August 7, 2025//
- MUSC unveils $30 million in funding to support health innovation
- Funds aim to grow entrepreneurship and STEM jobs statewide
- 1824 Health Ventures Fund I targets MUSC-affiliated startups
- SCHIF supports high-impact health companies across South Carolina
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.”
The 1824 Health Ventures Fund was named to honor MUSC’s founding year and will provide capital for MUSC-affiliated startups and new companies in health care. According to the release, the $20 million fund will focus on the early-stage investments.
Both funds are intended to strengthen MUSC’s OneMUSC strategic goal to propel the state’s economy through innovation and the expansion of STEM jobs, the release said.
“MUSC has been one of the state’s leaders in innovation and life-science development throughout its history,” Dr. David Cole, president of MUSC, said in the release. “These funds represent a transformational step in turning South Carolina into a national destination for health innovation and entrepreneurship. I’m excited to see how these funds support our own entrepreneurs and attract more to our state.”
