Economic Development

Beyond the walls of Mayo Clinic

The need for innovation expands broadly beyond the confines of Mayo Clinic. 

Fostering an environment of bold ideas and breaking down barriers that have traditionally slowed development and adoption of healthcare disruption requires a dynamic pool of talent, infrastructure and capital. 

Mayo Clinic is committed to investing in assets and resources to support entrepreneurs, help build companies and attract the most sophisticated healthcare trailblazers and thought leaders worldwide, while paving the way for increased economic development opportunities in the process. 

From establishing and sustaining accelerators and strategic partnerships, to scaling inventions and businesses, to tendering seed funding and sponsorships, the scope of Mayo Clinic’s contributions to economic growth span local, regional, national and international sectors.


Destination Medical Center (DMC) is the largest public-private economic development initiative in Minnesota and a catalyst for growth in Rochester, MN.

The city of Rochester, Olmsted County, the State of Minnesota, Mayo Clinic and others are working together to attract healthcare professionals, students, entrepreneurs and educators from across the globe. With Mayo Clinic at the heart of the city, efforts within the initiative will support Mayo Clinic research and innovation.

The Discovery Square component is a 16-block sub-district in a connected urban life science hub that enables easy access to Mayo Clinic Ventures staff for routine reviews of new intellectual property, as well as evaluation and co-development of new and existing technologies.

Mayo Clinic’s Anna-Maria and Stephen Kellen Building complements the community and industry partners within the Discovery Square district.

Bringing together physicians, researchers, and healthcare technology and services companies will speed delivery of medical discoveries to patients, the marketplace and stimulate related businesses.

Additional Minnesota-based organizations with Mayo Clinic affiliations include:


Mayo Clinic launched the Innovation Exchange as part of a broad strategy to bring break-through biomedical innovations to patients as quickly as possible. The Innovation Exchange’s platform-based model connects both external start-ups and internal innovators to a vast network of academic collaborators, industry partners, top-tier advisory services, sources of venture funding, and Mayo Clinic physicians and scientists. 

The launch of Mayo Clinic Innovation Exchange was supported by a highly competitive, three-year U.S. Department of Commerce grant – one of only 26 Regional Innovation Strategies i6 Challenge grants awarded in 2019. The Innovation Exchange team is proud to work in close collaboration with the JAX Chamber, the Florida Chamber Foundation, and other regional organizations to advance Florida’s economy and the healthcare and life sciences sectors.



Health Futures Center

Founded in May 2021, the Health Futures Center, home of Mayo Clinic and ASU Alliance for Health Care, was designed to support medical research, learning and entrepreneurship.

The alliance aims to accelerate cutting-edge research discoveries, improve patient care through innovation, and transform medical education to enhance health outcomes at individual, community and national levels.

Wrapping around the existing Mayo Clinic Hospital campus and ASU’s Health Futures Center, Discovery Oasis is situated on a prime parcel. Designed as a unique scientific community, the flowing site plan incorporates research facilities, offices and site amenities in hubs that intersect to encourage collaboration and convergence.

Housed within the Health Futures Center, the Mayo Clinic and ASU MedTech Accelerator is a flagship program of Mayo Clinic and Arizona State University Alliance for Health Care, providing early-stage medical device and health care technology companies with an entrepreneurial curriculum and personalized business development plans to accelerate go-to-market and investment possibilities.