Industry-Sponsored Research Week

Mayo to partner with Boston Scientific on new med-tech accelerator

By David Schwartz
Published: August 6th, 2019

Mayo Clinic and medical device giant Boston Scientific are joining forces to open a new med-tech accelerator. The collaboration will be located in One Discovery Square, a new building adjacent to Mayo Clinic that’s meant to attract medical technology startups.

Andy Danielsen, chair of Mayo Clinic Ventures, says the partnership is designed  to bring ideas born inside both organizations – and even from outside of their labs — to the marketplace and attract critical investment dollars.

“We’ll take early ideas in, then we apply both financial backing, the clinical expertise and engineering expertise, [and] spin it back out of the accelerator as a start-up company that will hopefully attract capital,” Danielsen said.

The goal is for those start-ups to grow in Rochester, helping to grow the local economy as well as diversifying the city’s workforce. “It’s certainly a goal to have some of those companies remain in Rochester, or if not that, at least in Minnesota,” Danielsen said.

Both Mayo and Boston Scientific have committed millions over three years to the accelerator. Their work on the effort is the product of a decade-old product development partnership, which has already produced eight joint patents and two clinical trials.

Source: MPR News

Posted under: University-Industry Engagement Week

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