Economic impact
Beyond the walls of Mayo Clinic
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.
Growth catalysts
Destination Medical Center (DMC) is the largest public-private economic development initiative in Minnesota.
The Discovery Square component is a 16-block sub-district in a connected urban life science hub that enables easy access to Business Development 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.
Minnesota-based affiliations:
BioLabs – Rochester, MN includes a new 16,000-square-foot facility in Two Discovery Square. The Rochester site marks BioLabs’ first location in the Midwest and will offer flexible, turnkey lab and office space for early-stage biotech and HealthTech companies.
Collider Foundation supports local entrepreneurs and small businesses with navigation, education, space and storytelling to help foster an inclusive, diverse and healthy entrepreneurial ecosystem in Rochester, Minnesota.
Mayo Clinic is a proud sponsor.
gBETA Medtech is a free, seven-week accelerator that works with medical device, healthcare-related software, biotech and diagnostics startups with cohorts receiving mentorship support from Mayo Clinic. gBETA works exclusively with startups focused on healthcare.
Launch Minnesota is a collaborative effort spearheaded by the Minnesota Department of Employment and Economic Development to accelerate the growth of startups and amplify Minnesota as a national leader in innovation.
MNSBIR, Inc. is an independent, private, non-profit organization that assists startups and small businesses to secure non-dilutive funding from America’s Seed Fund – the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.
Rochester Area Economic Development, Inc. (RAEDI) assists businesses in the Rochester, MN area secure the resources needed to execute their growth plans. RAEDI leads and supports economic, community and workforce development initiatives within the greater Rochester area economy.
Southeast Minnesota Capital Fund is a privately funded angel venture fund that invests in high-growth startups within southeast Minnesota, several of which are part of Mayo Clinic’s Business Development portfolio. The fund was spearheaded by RAEDI and launched in 2017.
Southeastern Minnesota Initiative Foundation (SMIF) invests in south central and southeastern Minnesota to create a prosperous region with vibrant communities, innovative and successful economies and engaged and valued citizens.
Mayo Clinic is an investor and has staff representation on the Board of Trustees.
Walleye Tank is Minnesota’s life science pitch competition providing support for emerging and established medical and life science companies, with a focus on removing barriers for entrepreneurs.
Mayo Clinic is a proud sponsor.
Arizona
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.