Global Cardiovascular Innovation Center

In October 2006, Cleveland Clinic, FRDC and 18 educational and institutional partners applied for funding from the State of Ohio’s Third Frontier Program to develop, among other things, the Global Cardiovascular Innovation Center (GCIC). The partnership was awarded a grant of $60 million to develop the GCIC Project.

The primary purpose of GCIC is to accelerate the development and commercialization of cardiovascular technologies and products, thereby creating hundreds of new jobs in northeast Ohio. The 50,000 square foot research building being constructed on the south side of Cedar Avenue between East 100th and East 101st Streets is expected to be complete in spring 2010. The $23 million project with its focus on the cardiovascular (CV) therapeutic area, which is estimated at more than $400 billion in the US, represents the single largest market opportunity within the $2.1 trillion healthcare sector. Cleveland Clinic and FRDC are working closely together to promote economic development and growth in northeast Ohio. This new GCIC accelerator will become the central incubator for CV companies and for spinning off new companies formed to develop and commercialize new CV technologies.