CHARLESTON, S.C. (WRDW/WAGT) - The Medical University of South Carolina’s charitable foundation is investing $25 million to help jumpstart innovation businesses inside the MUSC system and state.

The foundation is also partnering with $5 million in state funding to provide money for homegrown medical advancement projects.

Bob Crutchfield at MUSC will be the managing director of the 1824 Venture Fund and the South Carolina Health Innovation Fund.

“It takes a lot of money to go from scientific opportunity to validation, to building out and getting through your clinical trial progressions in order to have a commercial chance,” Crutchfield says.

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