The Center for MedTech Excellence will provide a reimagined, comprehensive approach for concept to commercialization and sustainable innovation, which is crucial for cultivating more agile healthcare organizations. In 2021, the Georgia Institute of Technology (Georgia Tech) announced a bold 10-year strategic plan for “developing leaders who advance technology and improve the human condition.” Celebrating collaboration and championing innovation are core values for a novel partnership that promises. The MedTech Center’s mission is to provide expertise in product realization, technology, and manufacturing to create job growth through the commercialization of high-tech products and services in the field of medical device technologies in Georgia. The Center for MedTech Excellence is a novel partnership between the Advanced Technology Development Center (ATDC), Georgia Manufacturing Extension Partnership (GaMEP), and the Global Center for Medical Innovation (GCMI).
ATDC, the nation’s oldest on-campus technology incubator, was founded in 1980 at Georgia Tech to assist all technology entrepreneurs in the State of Georgia in growing their startups with programs in financial literacy, capital-raising, and more. Throughout its 40-year history, ATDC graduate startup companies have raised $3 billion in investment financing and generated more than $12 billion in revenue. More than 90% of ATDC portfolio companies remain in operation five years after graduating from ATDC’s advanced programming, compared to 50% in the general population of startups. Annually, ATDC serves over 3,500 entrepreneurs, teaches 400 classes, and hosts more than 125 statewide events. In 2019, these initiatives resulted in $104 million in equity raised by 45 companies and $8.4 million in grants or awards, including Small Business Innovation Research (SBIR) funding for 11 companies. ATDC has created more than 5,500 jobs.
GCMI is the U.S. proving ground for medical innovation. As the Southeast’s first and only comprehensive medical device innovation center, GCMI is dedicated to accelerating development, building businesses, improving health, and creating economic growth. GCMI’s specific approach, experienced team, and collaborative network allow it to offer a full range of design, development, training, and testing opportunities for companies in the device, diagnostics, digital health, and drug delivery spaces. GCMI works from concept to commercialization, focusing on mitigating risk in clinical, regulatory, market, technology, reimbursement, intellectual property, and business strategy spaces within public and private sectors in order to effectively improve patient care with technology innovation.
Utilizing in-house resources, local core-lab resources, and third-party service providers located around the world, GCMI works every day with entrepreneurs, industry, and academia to commercialize innovative medical products that improve quality-based outcomes and delivery of healthcare to patients utilizing custom programming, services, and ‘Boot Camps’ to facilitate education and innovation. These resources represent the critical infrastructure and relationships that entrepreneurs and new product development teams need to bring new products from ideation through GLP preclinical testing and clinical trials in a highly collaborative, capital efficient manner.
GCMI’s state-of-the-art equipment, surgical suites, and lab team of over 50 staff members allow for rapid testing and prototyping, both GLP and GMP compliant:
GCMI, and its wholly owned subsidiary T3 Labs, is a non-profit 501(c)(3) and affiliate of the Georgia Institute of Technology, a member of the University System of Georgia.
The Georgia Manufacturing Extension Partnership (GaMEP) is a program within Georgia Tech’s Enterprise Innovation Institute and is a member of the MEP National Network, supported by the National Institute of Standards and Technology (NIST). GaMEP’s mission is to enhance the economic well-being of Georgia by helping manufacturers improve their performance in the global market. As part of the Center for MedTech Excellence partnership, GaMEP provides services to medical device companies ready to pilot, launch, or scale their product. With a broad range of expertise in leadership and strategy, operational excellence, technology scouting, and implementation, quality management, marketing, supply chain, and other aspects of the manufacturing process, GaMEP will provide connections to subject matter experts and serve as a trusted advisor to companies in the MedTech program.
What Sets GaMEP Apart: