Mayo Clinic Ventures looks to Israel for collaborations

The international startup community is expanding, with many new companies originating from the Far East, and many new partnerships being forged across continents — including a new initiative launched by Mayo Clinic Ventures seeking talent and ideas from Israel.

The firm's goal is to build relationships with Israeli companies through co-development or research grants, according to the Post-Bulletin. The project is an offshoot of an existing collaboration between Mayo Clinic and the Merage Institute in California, a philanthropic organization, which has been active for about a year.

Merage awards grants of up to $150,000 for Israeli firms working with Mayo to develop technologies, such as EyeYon Medical, which designs non-invasive medical devices to treat corneal conditions, according to the Post-Bulletin. This initiative is the first time Mayo has focused on a specific country to explore business opportunities.

Guy David, PhD, a health care management professor with the University of Pennsylvania Wharton School in Philadelphia, told the Post-Bulletin that for being such a small country, Israel's technology business output is significantly larger than many larger nations.

"Israel is hugely innovative," Dr. David told the Post-Bulletin. "There is no market in Israel. Israel is tiny. If they invent something, they know it has to be global product."

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