Stages:

• Early
• Seed

 

Industries:

Information Technology

Life Sciences & Healthcare

Medical Device

 

Description:

The Office of Intellectual Property serves as the bridge between medical technology discoveries by Mayo Clinic physicians and scientists and the marketplace. The office has licensed and commercialized hundreds of inventions, and at the same time developed a significant flow of income to support Mayo programs in education and research. Mayo Medical Ventures (MMV) is a division of the Mayo Foundation for Medical Education and Research. MMV was started in 1986 as a response to ever-tightening reimbursement for patient care services. MMV's charge is to generate new sources of revenue to support Mayo's clinical practice, medical education and medical research activities. Technology Based Ventures (TBV) allow Mayo to consider internal technologies as the basis for the formation of new medically related start-up companies. Mayo will invest its own funds in these companies when certain clearly defined criteria are met. The office is staffed by fifteen managers with broad training in science, technology, business and law. It is not a traditional tech transfer office -- distinct in that it not only licenses Mayo Clinic's intellectual property but also forms product development collaborations, actively mines Mayo Clinic for ideas, teaches entrepreneurism, starts companies, runs a business accelerator and participates in a $100 million venture and growth fund that supports economic development. Over 350 startups use Mayo Clinic technology.