Fund or office: Mayo Clinic Ventures / Department of Business Development
Mayo Clinic's Department of Business Development, which includes Mayo Clinic Ventures, is described as Mayo Clinic's front door to business and is the route by which Mayo physicians and scientists commercialize their inventions. It operates across three functions: protect and develop, covering intellectual property management, technology funding and product development; launch and grow, covering licensing agreements, startup formation and equity investments; and partner and scale, covering strategic collaborations, mergers and acquisitions. Physician inventors bring disclosures into this pipeline and can end up as founders of Mayo-affiliated startups or as licensors to established medtech and pharma companies. Returns from these activities are cycled back into Mayo's clinical practice, education and research missions.