Mayo Clinic launches innovation exchange

Rochester, Minn.-based Mayo Clinic launched a new innovation initiative to support entrepreneurs in the healthcare space.

The health system announced the Mayo Clinic Innovation Exchange on June 10, offering members access to medical insights, professional service firms and a new 20,000-square-foot workspace with rental wet labs at the health system's Jacksonville, Fla.-based campus. Entrepreneurs anywhere in the world can join the exchange, which will also include virtual office hours with law firms as well as marketing and strategy consultants.

Members will also receive targeted introductions to Mayo Clinic Health System experts. The exchange is currently taking applications.

The health system also has a venture capital arm that has more than 500 invention ideas disclosed annually and files 100 patent applications per year. Mayo Clinic Ventures also offers early stage seed funding and later stage translation funding for companies.

Charles Bruce, MD, chief innovation officer at Mayo Clinic in Florida, is leading the exchange as its medical director. He also serves as the associate medical director for Mayo Clinic Ventures and director of business development in the Center for Regenerative Medicine at Mayo Clinic in Florida. Dr. Bruce has helped create five start-up companies and is a patent inventor on more than 160 patent filings.

Jared Mueller is the director of the Mayo Clinic Innovation Exchange. He joined the health system after serving on the strategy team at the nonpartisan Obama Foundation and also has experience as the COO for an SaaS company focused on healthcare and social science research.

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