Associate - Business Development - Technology Development

Mayo Foundation for Medical Education and Research; Rochester (MN); On-site; USD 88,300 - 123,700; Full time

Benefits offered by this job

Medical, Dental, and Vision coverage

Retirement package

Pre-Tax Savings options

Job summary

Mayo Foundation for Medical Education and Research is looking for an Associate to support business development efforts. This role involves advancing workflows and conducting market research across several functional units, including partnerships and commercialization.

The ideal candidate will have a Bachelor’s degree and relevant experience in business development or technology commercialization. This full-time position is based in Rochester, Minnesota and offers a competitive salary range of $88,300 to $123,700.

Qualifications

• One year of experience in business development, finance/venture capital, or related field.
• Experience related to technology licensing for the Commercialization Work Unit.
• Strong verbal and written communication skills.

Responsibilities

• Support the mission of Mayo Clinic Business Development.
• Source and develop new business opportunities for Mayo Clinic.
• Evaluate commercial potential of medical inventions.

Skills

Business development

Technology commercialization

Project management

Analytical skills

Education

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

Advanced degree (e.g., PhD, MD, JD) preferred

Job description

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 three functional Work Units, with positions assigned within one of these three areas and with responsibilities as described for each area:

• 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 transformative 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 – Evaluate invention disclosures coming from Mayo's research and clinical activities and assistance in processing these disclosures and any resulting patent applications:
  • 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.
  • Collaborate closely with physicians, researchers, and cross‑functional teams to advance innovative solutions and align technology development efforts with organizational priorities.
  • Facilitate invention disclosure and intellectual property development, including identifying patentable innovations, conducting prior art and landscape analyses, and supporting IP strategy.
  • Conduct feasibility assessments, market analyses, and competitive evaluations to determine the potential impact and commercial viability of new technologies.
  • Support the planning and execution of technology development projects, including defining scope, timelines, and key deliverables, and coordinating with internal and external stakeholders.
  • Develop materials to communicate and promote technologies, including summaries, presentations, and other supporting documentation for internal and external audiences.
  • Monitor industry trends and emerging technologies and contribute to ongoing improvement of development processes while ensuring compliance with regulatory, ethical, and confidentiality standards.

This job posting is specifically for biopharmaceutical and diagnostic technology development.

Based on the needs of the department, positions will also be primarily assigned to one or more Work Teams, each focusing in a specific area: Biopharmaceuticals, Medical Devices, Diagnostics, Health Information Technology/AI, Health Services & Robotics, or Investments. Projects and opportunities are categorized within one of these six 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 Teams. Typically, each team member will be placed into two Work Teams.

Qualifications

• Bachelor’s degree required, or an advanced degree preferred (e.g., PhD, MD, JD), in business, science, or a related field, plus one year of 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 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 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 through 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

Locations: Phoenix/Scottsdale, Arizona; Jacksonville, Florida; Rochester, Minnesota; and selected Mayo Clinic Health System campuses.

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. Mayo Clinic participates in E‑Verify and may provide the Social Security Administration with information from each new employee's Form I‑9 to confirm work authorization.

Recruiter

Julie Melton