Associate - Business Development - Technology Development

Mayo Clinic; Rochester (MN); On-site; USD 88,300 - 123,700; Full time

Benefits offered by this job

Medical – multiple plan options

Dental – Delta Dental or reimbursement allowance

Vision – affordable plan with national network

Pre-Tax Savings – HSA and FSAs

Retirement – competitive retirement package

Job summary

Mayo Clinic seeks a Business Development Associate to support projects in various areas, including partnerships and commercialization of medical technologies. Candidates should hold a Bachelor’s degree and have at least one year of relevant experience in fields such as business development and technology transfer.

The position offers a salary between $88,300 and $123,700 annually, alongside generous benefits like medical, dental, vision, and retirement options. This is a full-time role based in Rochester, Minnesota, without visa sponsorship eligibility.

Qualifications

• Minimum one year experience in business development, finance/venture capital, or technology transfer.
• Experience directly related to technology licensing for the Commercialization Work Unit.
• In lieu of a degree, relevant experience may satisfy degree requirements.

Responsibilities

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

Skills

Excellent verbal and written communication skills

Project management and time-management skills

Analytical skills

Entrepreneurial/intrapreneurial qualities

Education

Bachelor’s degree in related field

Advanced degree preferred

Job description

Responsibilities

This position directly supports the mission of Mayo Clinic Business Development. The Associate will be 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.

This department is organized into three functional work units, with positions assigned within one of these areas. The responsibilities in each area are:

• Partnerships – Source, evaluate, analyze and develop new business opportunities, including partnerships, joint ventures, spin‑offs, investments, mergers and acquisitions. Work with Mayo Clinic and the marketplace to identify new opportunities, connect activities with existing operational units, align with strategic plan, and build a network of industry, entrepreneurial and investor contacts.
• Commercialization – Evaluate the commercial potential of medical inventions and discoveries, develop and implement technology sales and marketing plans, manage the patent process, identify commercial partners, negotiate license agreements and other commercialization arrangements, manage relationships with industry and advise physicians and scientists on intellectual property and technology‑based business matters.
• Technology Development – Evaluate invention disclosures, assist in processing disclosures and patent applications. Tasks include identifying and supporting novel technologies, collaborating with physicians, researchers and cross‑functional teams, facilitating invention disclosure and IP development, conducting prior art and landscape analyses, performing feasibility assessments, market analyses, competitive evaluations, supporting project planning and execution, developing materials to communicate technologies, and monitoring industry trends.

This posting is specifically for biopharmaceutical and diagnostic technology development. Positions will be primarily assigned to one or more work teams focused on:

• Biopharmaceuticals
• Medical Devices, Diagnostics
• Health Information Technology/AI
• Health Services & Robotics
• Investments

Qualifications

• Bachelor’s degree required (or an advanced degree preferred), plus at least one year of specific experience in business development, finance/venture capital, technology transfer, venture management, IP 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 (e.g., four years for a Bachelor’s, two years for a Master’s, two years for an advanced degree).
• Must possess excellent verbal and written communication skills, strong project management and time‑management skills, entrepreneurial/intrapreneurial qualities, analytical skills, and the ability to work independently on assigned projects.

Additional Skills & Qualifications

• 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 related to patenting and licensing.
• Experience with an organization or role directly related to one or more of the relevant work teams may receive special consideration.
• Additional consideration may be given for experience with an academic medical center, mergers and acquisition experience, financial modeling and analytical valuation experience, Chartered Financial Analyst certification, experience with a national consulting firm in related functional areas or industries.

Exempt Status

Exempt

Compensation

$88,300 - $123,700 per year

Benefits

• Medical – multiple plan options
• Dental – Delta Dental or reimbursement allowance for flexible coverage
• Vision – affordable plan with national network
• Pre‑Tax Savings – HSA and FSAs for eligible expenses
• Retirement – competitive retirement package

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.

Schedule

Full Time – Monday through Friday, 80 hours per pay period. The vacancy is not eligible for visa sponsorship. International assignments are not applicable.