Associate - Business Development - Partnerships

Mayo Clinic•Rochester, MN

2d•$88,300 - $123,700

About The Position

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. 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.

Requirements

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

Nice To Haves

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
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.
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.

Responsibilities

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.
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.
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.
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.
Originate, evaluate and execute investment opportunities.
Assess opportunities against investment criteria and capital structure standards.
Manage or lead financial modeling, valuation, scenario analysis, comprehensive diligence and related activities.
Work with organizational departments, teams, and investment committees to facilitate investments that align with Mayo’s strategy.
Perform and manage post-deal activities, including governance, reporting, etc.