The Advanced Technology Development Center (ATDC), a program from Georgia Tech, is the state of Georgia’s technology startup incubator. Funded and founded by the legislature, ATDC’s mission is to work with entrepreneurs to launch, scale and succeed in creating new technology companies. A new partnership with the Georgia Banking Company (GBC) aims to take the next step at nurturing companies on financial and banking strategies, along with other important parts of new business development.
“We are proud to support the incredible work happening at ATDC,” said GBC’s Payments & Technology Banking Group President Nathan Ottinger. “Innovation is a driving force for economic growth, and through this partnership, we aim to provide startups with the financial tools and expertise they need to thrive.”
ATDC is the oldest university-affiliated incubator, founded in 1980, with graduate companies raising more than $3 billion in financing and contributing more than $12 billion in revenue to the state of Georgia. The program, part of Georgia Tech’s Enterprise Innovation Institute, provides startups with resources, mentorship, and networking to help boost growth. The new partnership with GBC will help bring in financial expertise for young companies to gain increased access to more capital, something critical in the early days of a business.
“We are thrilled to embark on this journey with GBC,” ATDC Director John Avery said. “This collaboration aligns perfectly with our mission to empower entrepreneurs and startups, and we believe that the financial expertise and resources provided by GBC will be invaluable in fueling the innovation ecosystem in Georgia.”
GBC is headquartered in Atlanta, with approximately $1.75 billion in assets. It was named a top workplace in 2023 by the AJC and CEO Bartow Morgan, Jr. stresses their commitment to relationship banking and the community of metro Atlanta. “Our real goal is to lend to companies that are growing in the Atlanta market, and if our companies that we bank are successful at growing they will help us to grow also,” said Morgan.
The bank itself is somewhat of a startup, the result of an acquisition in 2021 by an investor group led by Morgan. Morgan said they saw a gap in the market and are aiming to fill the commercial and private banking needs for middle market businesses in strategic locations around metro Atlanta. Morgan’s appointment as CEO brought things full circle, as the fifth-generation of his family in banking. His great-grandfather founded Brand Bank in Gwinnett County in 1905 – which last until 2018 when it was acquired by the Renasant Corporation.
“Georgia Banking Company continues our legacy of convening corporate sponsors who are dedicated to seeing our startup ecosystem thrive,” said Aubrey Lenyard, ATDC community engagement manager. “The resources they bring to our startup community ensures that we will continue to help our companies learn, launch, scale, and succeed.”
