Business Development Associate - Commercialization

The primary responsibility of this Associate position is to directly support the mission of Mayo Clinic Business Development throughout-licensing of Mayo Intellectual Property.  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 licensing various technologies.  The Associate will be expected to work on multiple projects simultaneously, and to organize and manage work accordingly.  This position is part of the Commercialization Work Unit for Business Development and will work alongside both Partnerships and Technology Development colleagues.

The department of Business Development is organized into three functional Work Units, 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 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 - Identify, evaluate, and support the development and protection of new technologies and intellectual property arising from Mayo Clinic’s research and clinical activities.

(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) Support the planning and execution of technology development projects, including defining scope, timelines, and key deliverables, and coordinating with internal and external stakeholders; 

(f) Develop materials to communicate and promote technologies, including summaries, presentations, and other supporting documentation for internal and external audiences;
(g) Monitor industry trends and emerging technologies, and contribute to ongoing improvement of development processes while ensuring compliance with regulatory, ethical, and confidentiality standards.

Based on the needs of the department, positions will also be primarily assigned to one or more technology teams, each focusing in a specific area: Biopharmaceuticals, Medical Devices, Diagnostics, Health Information Technology/AI, Health Services & Robotics, Investments, etc. Projects/ opportunities are categorized within one of these six areas, and staff are attached to each project accordingly.  

This role will be focused on out-licensing of Mayo’s Intellectual Property portfolio from various assigned technology teams, with a goal of returning value to Mayo while also limiting risk to Mayo.  The Associate will collaborate with Business Development and Legal colleagues, innovators at Mayo, and commercial entities to evaluate the value of a Mayo technology and negotiate the terms and conditions in the license.  An ideal candidate has healthcare policy background knowledge, and experience working with various stakeholders of a commercial or healthcare institution to advance or commercialize technologies.

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. 

Compensation Detail: $86,600 - $121,300 / year