Associate - Business Development - Partnerships

Mayo Foundation for Medical Education and Research; Rochester (MN); On-site; USD 88,000 - 124,000; Full time

Job summary

Mayo Clinic in Minnesota is seeking an Associate in Business Development to support the mission across Partnerships, Commercialization and Technology Development. The role involves advancing workflows, developing analyses, reports and business plans, and coordinating multiple projects in a fast-paced environment.

The position focuses on Medical Devices and Health IT within the Partnerships/Commercialization/Technology Development units, working with physicians, researchers and external partners

Qualifications

• Bachelor’s degree required, or an advanced degree (e.g., PhD, MD, JD) in business, science, or related field.
• One year of experience related to business development, finance/venture capital, technology transfer, licensing, partnerships, or investments.

Responsibilities

• Support the mission of Mayo Clinic Business Development by advancing workflows and developing analyses, reports, and business plans.
• Work on multiple projects in parallel within the Partnerships, Commercialization and Technology Development units.

Education

Bachelor’s degree or advanced degree in business, science, or related field

One year experience related to business development, technology licensing, or investments

Job description

Why Mayo Clinic

Mayo Clinic is top-ranked in more specialties than any other care provider according to U.S. News & World Report. As we work together to put the needs of the patient first, we are also dedicated to our employees, investing in competitive compensation and comprehensive benefit plans– to take care of you and your family, now and in the future. And with continuing education and advancement opportunities at every turn, you can build a long, successful career with Mayo Clinic.

Benefits Highlights

• Medical:Multiple plan options.
• Dental:Delta Dental or reimbursement account for flexible coverage.
• Vision:Affordable plan with national network.
• Pre-Tax Savings:HSA and FSAs for eligible expenses.
• Retirement: Competitive retirement package to secure your future.

Responsibilities

The primary responsibility of this position is to directly support the mission of Mayo Clinic Business Development.The Associate will perform as an individual contributor, responsible for advancing and completing workflows and processes, and for developing or contributing to assessments, reports, analyses, business plans, market research and other material related to assigned projects.The Associate will be expected to work on multiple projects simultaneously, and to organize and manage work accordingly.

The department is organized into multiple functional Work Units, with positions assigned within one of these three areas and with responsibilities as described for each area. This posting is for a role in the Partnerships Work Unit, and will also work closely with members of the other Work Units:

• Partnerships – Source, evaluate, analyze and develop new business opportunities for Mayo Clinic, including but not limited to partnerships, joint ventures, new company spin-offs, investments, mergers and acquisitions. Work with areas throughout Mayo Clinic and the marketplace to identify new business opportunities, including the ability to connect these activities with existing Mayo Clinic operational units, in alignment with the Mayo Clinic strategic plan, prioritized market opportunities, and competitive activity. Contribute to the development of a network of industry, entrepreneurial and investor contacts to serve as a resource for business development and/or commercialization activities.
• Commercialization – Evaluate the commercial potential of a variety of medical inventions and discoveries coming from Mayo's clinical and research activities, developing and implementing technology sales and marketing plans, managing the patent process, identifying potential commercial partners, negotiating license agreements and other commercialization arrangements, managing relationships with industry and advising Mayo physicians and scientists regarding protection of intellectual property and technology-based business matters.
• Technology Development – Facilitate the development and commercialization of Mayo Clinic technologies by collaborating with Mayo Clinic staff, external companies, entrepreneurs, and investors: (a) Identify, evaluate, and support the development of novel technologies arising from Mayo Clinic’s clinical and research activities, with a focus on improving patient care and outcomes; (b) Collaborate closely with physicians, researchers, and cross-functional teams to advance innovative solutions and align technology development efforts with organizational priorities; (c) Facilitate invention disclosure and intellectual property development, including identifying patentable innovations, conducting prior art and landscape analyses, and supporting IP strategy; (d) Conduct feasibility assessments, market analyses, and competitive evaluations to determine the potential impact and commercial viability of new technologies; (e) Develop materials to communicate and promote technologies, including summaries, presentations, and other supporting documentation for internal and external audiences; (f) Monitor industry trends and emerging technologies and contribute to ongoing improvement of development processes while ensuring compliance with regulatory, ethical, and confidentiality standards; (g) Support the planning and execution of technology development projects and commercialization efforts, including defining scope, timelines, and key deliverables, and coordinating with internal and external stakeholders.
• Investments- Sourcing, evaluation, and execution of strategic and financial investments aligned with Mayo’s organizational priorities, ensuring all opportunities meet defined investment criteria, return thresholds, and governance requirements. Assist in portfolio management and advising executive and department leadership on critical financial decisions. Ideal candidates are intellectually curious, analytically rigorous, and thrive in a fast-paced, high-stakes environment. (a) Originate, evaluate and execute investment opportunities; (b) Assess opportunities against investment criteria and capital structure standards; (c) Manage or lead financial modeling, valuation, scenario analysis, comprehensive diligence and related activities; (d) work with organizational departments, teams, and investment committees to facilitate investments that align with Mayo’s strategy; and (e) perform and manage post-deal activities, including governance, reporting, etc.

Based on the needs of the department, positions will also be primarily assigned to one or more Work/Portfolio Teams, each focusing in a specific area.This position will focus at least initially in two areas: Medical Devices and Health IT.The role will also work collaboratively with the other Work/Portfolio Teams: Biopharmaceuticals and Diagnostics. Projects/ opportunities are categorized within one of these areas, and staff are attached to each project accordingly.

Thus each team member is initially placed into one Work Unit, with their work focusing on projects and opportunities categorized as within one or more Work/Portfolio Teams. Typically, each team member will be placed into two Work/Portfolio Teams.

Qualifications

Qualifications

• Bachelor’s degree required, or an advanced degree preferred (e.g., PhD, MD, JD), in business, science, or related relevant field, plus one year specific experience related to the role and area of work: business development, finance/venture capital, technology transfer, venture management, i/p commercialization, licensing, patents, partnerships, business-to-business collaborations, investments, start-up companies and/or sourcing partnering opportunities in the health care, medical/biotechnology or financial/venture capital industries.
• One year experience directly related to technology licensing for roles within the Commercialization Work Unit.
• In lieu of a degree, a minimum of years of applicable experience equal to the number of years normally required to earn the degree will be recognized as satisfying the degree requirement, i.e. four years experience equivalency for a Bachelor’s degree, two years experience equivalency for a Master’s degree, two years experience equivalency for an advanced degree.

Must have the ability to perform successfully in a business development/ technology commercialization role, and to navigate required complex inter- and intra-organizational issues and relationships.Must possess excellent verbal and written communication skills with the ability to interact with a variety of different people with diverse backgrounds. Requires strong project management skills and time management skills and the ability to manage several initiatives simultaneously. Must have entrepreneurial/intrapreneurial qualities.Must possess strong analytical skills, be resourceful, and be able to work independently on assigned projects.

Additional Skills & Qualifications

Depending on the specific position assignment, additional preferred skills may include: business plan creation, due diligence, market research, marketing plan development, concept analysis, business model development, financial pro-forma development and analysis, legal/regulatory issues assessment, monitoring product/operating unit performance, technical sales, evaluation of medical technologies, negotiations, contract drafting, evaluation of scientific and commercialization potential of cutting-edge technologies, and knowledge of science, clinical or bench research, business principles, laws and regulations that relate to the patenting and licensing of inventions. Experience working with an organization or in a role directly related to one or more of the relevant Work Teams may be given special consideration.

Additional consideration may be given for: experience with an academic medical center or equivalent setting; mergers and acquisition experience; financial modeling and analytical valuation experience; Chartered Financial Analyst certification, (complete or in progress); experience with a national consulting firm in related functional areas or industries.

Exemption Status

Exempt

Compensation Detail

$88,300 - $123,700 / year

Benefits Eligible

Yes

Schedule

Full Time

Hours/Pay Period

80

Schedule Details

Monday - Friday Business Hours This vacancy is not eligible for sponsorship/ we will not sponsor or transfer visas for this position. Also, Mayo Clinic DOES NOT participate in the F-1 STEM OPT extension program.

Weekend Schedule

Not applicable

International Assignment

No

Site Description

Just as our reputation has spread beyond our Minnesota roots, so have our locations. Today, our employees are located at our three major campuses in Phoenix/Scottsdale, Arizona, Jacksonville, Florida, Rochester, Minnesota, and at Mayo Clinic Health System campuses throughout Midwestern communities, and at our international locations. Each Mayo Clinic location is a special place where our employees thrive in both their work and personal lives. Learn more about what each unique Mayo Clinic campus has to offer, and where your best fit is.

Equal Opportunity

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender identity, sexual orientation, national origin, protected veteran status or disability status. Learn more about the EOE is the Law. Mayo Clinic participates in E-Verify and may provide the Social Security Administration and, if necessary, the Department of Homeland Security with information from each new employee's Form I-9 to confirm work authorization.