Center to provide expertise in concept-to-commercialization of medical device technologies that can compete globally and improve the human condition
ATLANTA — The Center for MedTech Excellence, created to support and address the unique needs of early-stage medical device technologies, launched today with its first cohort of early-stage biotech companies.
Housed in Georgia Tech’s Enterprise Innovation Institute and funded by a federal grant, the Center will provide expertise in product realization, technology, medical device manufacturing, biotechnology, life science, and therapeutic innovations to early-stage entrepreneurs.
It is a collaborative effort of two Enterprise Innovation Institute programs — the Advanced Technology Development Center (ATDC) and the Georgia Manufacturing Extension Partnership (GaMEP) — and the Global Center for Medical Innovation (GCMI), a Georgia Tech affiliate.
“I’ve spent a lot of time in the life science, medical device, therapeutic space, and what I saw was great programming,” said the Center’s Founding Director Nakia Melecio. “But there wasn’t any programming focused on taking companies from idea all the way to commercialization and including everything in between. There are a lot of accelerators and incubators, but none are focused, like we are, solely on developing, growing, and building life science companies.”
With its home in Georgia Tech’s Enterprise Innovation Institute, it was natural to partner with ATDC, GaMEP, and GCMI, says Melecio. “Georgia MEP, with its focus on manufacturing, can help companies navigate manufacturing strategy. GCMI’s expertise in the medical technology industry can help on the clinical side. While ATDC will be home to ScaleUp Lab, MedTech’s incubator.”
Georgia boasts a robust and growing medical technology and health ecosystem with metro Atlanta being a national leader in health information technology, vaccine research, clinical trials, and medical device development.
The state is also home to the CDC, the American Cancer Society, the Morehouse School of Medicine, Emory University School of Medicine, and the Medical College of Georgia.
The Center, joining that network of resources, will support the sector’s continued expansion and job growth in the state, Melecio said.
“The MedTech Center supports and empowers innovators across a broad life-sciences and healthcare range to produce and accelerate the delivery of life-saving health and wellness solutions to people worldwide.”
The Center’s mission, he noted, is aligned with Georgia Tech’s goal to “develop leaders who advance technology and improve the human condition.”
Supported by a $3 million Economic Development Administration Build to Scale grant, the Center will provide services at no cost to clients, who must be developing medical devices for human or animal use. They must be located in Georgia and intending to grow their employment in the state.
During the 16-week program, the Center will provide services to the cohort companies, including coaching/mentoring, capital raising, financial literacy, networking, site selection, cybersecurity, production scaling, product design, and development processes. There are 17 companies in the inaugural cohort.
The Center also includes Scaleup Lab, an incubator for developing and startup companies to catalyze growth and enhance research and development by introducing companies to industry leaders, delivering entrepreneurial programs, and providing a capital-efficient, flexible stage to convert today’s scientific discoveries into tomorrow’s breakthrough healthcare solutions. The accelerator classes will include eight to 12 companies that have been recruited, qualified, and advised by the Center’s expert network.
A second program, MedTech Center Health Innovation Hub: Life Science MedTech, is designed for science and healthcare companies seeking growth funding and connections to experts and strategic partners for product development and expansion. Through this program, select Scaleup Lab companies are matched with a personal team tasked with advising on the company’s next growth stage. The year-long, virtual program features presentations from advisors and investors on topics such as biotechnology, healthcare, and hospital systems; medical devices and diagnostics; therapeutics; pharmaceuticals; rare diseases; and consumer healthcare.
“I see the MedTech Center as a support and addition to the current life sciences and entrepreneurial ecosystem,” Melecio said. “It’s a place for businesses to get everything from customized program content to grant and investor support, all geared specifically toward life science companies.”
About the Enterprise Innovation Institute
The Enterprise Innovation Institute, the Georgia Institute of Technology’s economic development unit, serves all of Georgia through a variety of services and programs that build and scale startups, grow business enterprises, and energize ecosystem builders. As the nation’s largest and most comprehensive university-based economic development organization, the Institute’s expertise and reach are global; its innovation, entrepreneurship, and ecosystem development programs serve governments, universities, nonprofits, and other organizations worldwide. In 2021, the Enterprise Innovation Institute served more than 15,500 businesses, communities, and entrepreneurs. Those clients reported startup investment capital exceeding $1.1 billion and creating or saving more than 11,300 jobs. The Enterprise Innovation Institute’s total 2021 financial impact exceeded $2.9 billion. Learn more at innovate.gatech.edu.
The Advanced Technology Development Center (ATDC), a program of the Georgia Institute of Technology, is the state of Georgia’s technology startup incubator. Founded in 1980 by the Georgia General Assembly, which funds it each year, ATDC’s mission is to work with entrepreneurs in Georgia to help them learn, launch, scale, and succeed in the creation of viable, disruptive technology companies. Since its founding, ATDC has grown to become one of the longest running and most successful university-affiliated incubators in the United States, with its graduate startup companies raising $3 billion in investment financing and generating more than $12 billion in revenue in the state of Georgia. To learn more, visit atdc.org.
About the Georgia Manufacturing Extension Partnership
Georgia Manufacturing Extension Partnership (GaMEP) is a program of the Enterprise Innovation Institute, whose purpose is to enhance global competitiveness for Georgia manufacturers. Each year, GaMEP offers coaching and training to more than 700 manufacturers across the state to help increase top-line growth, reduce bottom-line costs, and boost the economic well-being of Georgia. To learn more, visit gamep.org.
About Global Center for Medical Innovation (GCMI)
GCMI’s mission is to bring new medical technologies to market that improve quality-based outcomes and delivery of care for patients worldwide. To learn more, visit gcmiatl.com.
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For information about the Center for MedTech Excellence, contact Nakia Melecio, 678.478.2422, firstname.lastname@example.org