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A bureau within the U.S. Department of Commerce
OIE Background

Office of Innovation and
Entrepreneurship (OIE)

Global Center for Medical Innovation, Inc.


Atlanta, Georgia

Project Name

Global Center for Medical Innovation (GCMI) MedTech Seed Fund & Accelerator Program to Support Diverse Startup Companies in the Southeastern United States


Seed Fund Support

Award Amount

$249,981 for the Global Center for Medical Innovation (GCMI) MedTech Seed Fund & Accelerator Program

With the RIS Seed Fund Support Grant, the Global Center for Medical Innovation (GCMI) will capitalize a seed fund and launch an accelerator program that will have a focus on diverse founding teams of medical device and technology startups. While based in Atlanta, the reach of the fund will be throughout the Southeastern United States where a growing number of medical device startups and early stage companies are seeking capital and support. In addition, Atlanta and Nashville are leaders in the Health IT industry, providing an opportunity for follow-on investing from strategic companies and investors who are familiar with this space. GCMI’s leadership frequently interacts with investors, companies, and universities located across the Southeast. GCMI’s fund and accelerator program will position them for follow on funding and expanding the medtech industry in the region.

The purpose of this program is is to increase the availability of funding for early-stage companies and maximize the opportunities for follow-on private funding through the “valley of death” by investing in companies with diverse teams that are solving real problems that investors and potential customers are facing. Startups with diverse founding teams, including at least one female, have better outcomes. GCMI will be announcing initiatives in the next year to have an education and mentoring program targeted at increasing the number of female founders of medtech companies. Our goal to use GCMI’s expertise and network to connect startups with funding and mentors to accelerate commercialization, promote inclusion, create new jobs, and stimulate industry growth in the region.

GCMI’s programs are focused on strengthening the capital continuum, creating jobs, attracting investment, and commercializing new medical technology in the Southeast. The synergy developed in this “community of innovation” empowers each successive round of capital and opens opportunities to the region as a whole. The Accelerator’s focus on diversity in the selection committee, mentor pool, and selected companies produces a more inclusive culture of opportunity for historically underrepresented entrepreneurs in the medtech industry.