How much Should Charleston be investing in its local tech scene?

Charleston recently was named one of the United States’ most active tech hubs, and according to reports, the future of the IT sector in Charleston looks positive.

But local tech experts insist that continued investment is crucial to strengthening Charleston’s tech hub’s infrastructure and ecosystem.

For it to thrive and reach new heights, the focus, according to these experts, must be on fostering innovation, building a highly skilled workforce and developing research centers and institutions.

Nurturing Charleston’s information technology sector has the potential to attract new talent, funding and investment from further afield, but only with a forward-thinking approach.

There is still a long way to go before the city’s tech scene reaches anywhere near the success of places like Silicon Valley and Boston. Still, there is no doubt the city is on the upswing and gaining a nationwide reputation for its well-developed tech scene.

Let’s take a closer look at the types of investment that can bolster Charleston’s tech sector and ensure its position as a leader through continued expansion.

Which critical investments are needed to ensure the growth of Charleston’s tech hub?

Tens of millions of dollars of investment in key areas are needed to ensure Charleston City remains a tech hub in the United States. Venture capital firms that can individually promise cash investments anywhere from $1,000,000 to $10,000,000 or more are a step in the right direction and easily achievable.

Cash investments like this can help start-up companies reach exciting new heights and counter funding issues currently preventing several promising tech companies from progressing.

Further investment and backing from the appropriate local, state and federal governmental bodies to build upon the current tech infrastructure will also benefit Charleston’s tech scene.

In other tech industries, such as the iGaming industry in which people play casino games online at hundreds of legally permitted sites, ongoing investment in the software providers that produce this kind of digital content has increased revenue and boosted creativity, productivity, and efficiency. The same positive impact could occur in the tech scene in Charleston.

It’s not just direct cash injections from investors that can make a difference for start-up companies. Investments made in other critical areas of the tech sector can also benefit businesses trying to succeed in Charleston’s tech scene.

Examples include:

Improved educational offerings and more mature/supportive start-up ecosystems to foster innovation;
Targeted business incentives;
The development of physical tech facilities ;
Wider adoption of emerging technologies (e.g., artificial intelligence and its many applications); and
Increased cybersecurity

If Charleston can continue to secure suitable investment, it can solidify its reputation as a viable alternative to the other more expensive and crowded tech hubs.

What are the major tech companies currently thriving in Charleston?

Many tech companies now call Charleston home, offering a range of products and services, some of which include AI (artificial intelligence), ML (machine learning), HR tech, software, consulting, fintech and financial services, analytics, cloud computing, professional services and eCommerce.

Others specialize in IT (information technology), fashion, social media, mobile, marketing tech, 3D printing, design architecture, digital media and educational technology.

More than 1,100 tech companies are currently thriving in the Lowcountry, and the top 9 notable tech companies in Charleston that you may or may not already be familiar with by now are the following:

Ryan (fintech and consulting)
Elevar (software and marketing tech)
Ceterus (software and mobile)
GoodUnited (social media, IT, fintech, and others)
CapCenter (real estate)
NetTec – Network System Integrators (IT)
Grimco, Inc. (digital media)
Workiva (financial services, fintech, professional services, cloud computing, software, analytics, and AI)
Wonderlic (AI, ML, HR tech, consulting, software, and social impact)

Others include PowerScore Test Preparation, Techfaster, BiblioLabs, Wizardly, The Design Group, SOUTH, and SkuBot. Cloud on Tap, Questis, PhishLabs, AmplifiedAG, Interloop, Crunchy Data, and Blackbaud are also involved.

That’s not forgetting doxy.me, Throughline, Inc., call experts, Alboddo Technology LCC, Ignite Digital Services, Benefitfocus, Inc., Interclypse, Inc., Netrist Solutions LLC, Waves Sciences, and BeliefNetworks, to name just a few. The list goes on.

Final thoughts

Continued investment is needed to support and expand the ecosystem so these companies and everyone else involved can evolve and hopefully remain one step ahead of their competitors.

Charleston’s tech scene has a strong sense of community and collaboration, one reason it has become a hub of creativity and innovation in the tech sector.

It’s a great place to do business and is the ideal environment for individuals to learn and grow new skills and have successful careers.