Medtech and pharma companies have a need to add innovative devices, digital health solutions and diagnostics to their pipeline, but are often time constrained to assess potential partnership and investing opportunities. In addition, most startups are “too early” for investment or acquisition, but hesitation may lose the opportunity for a company to engage with that startup or technology in the future.
GCMI operates an accelerator platform for select industry partners to use as a sandbox for high potential companies to mature in a measured, milestone-driven, high-touch manner. These partners will recommend early stage companies that they are interested in, and GCMI will apply resources, guidance, facilities and world-class accelerator team to help that company reach critical development and commercialization milestones. During this process, our partners will be part of the team that will be kept abreast of the startup team’s growth and difficulties, so they can contribute expert feedback and resources as needed.
Selected accelerator companies will work with the GCMI accelerator for 3 months to a year, depending on the milestones created at admission. These startups will have access to discounted or donated services from experts who excel in working with early stage entrepreneurs. These experts will be vetted and provided by GCMI, though we will also work with our industry partners to find the exact fit for every issue our companies may face. Startups will meet (physically or virtually) with the accelerator team often, but they will meet with our partners to discuss milestones and roadblocks at least once a month. At the end of the process, which has been documented and followed by top companies in other accelerators in the US, you will be presented with a more mature company, as well as a more de-risked technology solution.
The Funding Requirements
Industry partners will commit to funding the milestone activities of the early stage company(ies) they recommend into the program. Each scope of work and milestones will be agreed to in advance. One size does not fit all – the program and funding can be tailored to the specific needs of each industry partner and early stage team.