PROVIDENCE – Since its establishment in 2017, the New England Medical Innovation Center has awarded $1.7 million in grants, the organization announced in its 2023 impact report.
Additionally, the report states, NEMIC has reached more than 360 startups through its mentorship and advising programs, and NEMIC fellows have raised a total of $105.5 million in nondilutive and dilutive funds.
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The impact survey draws from a participant survey held from 2019 through December 2023.
Looking forward through 2024, the report highlights “a significant opportunity for Rhode Island to present itself as a credible and competitive hub” for medical technology and calls for further initiatives to foster local entrepreneurship and attract out-of-state companies to Rhode Island.
Among those initiatives, NEMIC calls for a centrally located Center of Excellence, which it says would require a “well-developed, readily available network” of industry experts; additional grant funding; and other support from state government policies and area universities.
Jacquelyn Voghel is a PBN staff writer. You may reach her at Voghel@PBN.com.
