Associate - Business Development

Mayo Clinic • Phoenix, AZ

1d

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 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 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 – Evaluate invention disclosures coming from Mayo's research and clinical activities and assistance in processing these disclosures and any resulting patent applications: a) assist in identifying potentially patentable inventions; b) provide background materials, such as prior art searches; c) assist in drafting patent applications; d) assist in evaluating all patent correspondence, including the review of cited art with investigators; e) assist in right to use searches by identifying and evaluating third party intellectual property requirements; (f) assist in preliminary analysis of patent threats related to current Mayo products; and g) assist in educating Mayo Clinic staff regarding patent issues. Where such activities will become part of legal analysis or legal risk assessments, such work is performed at the direction and oversight of Mayo internal counsel and/or external legal counsel delegated to that role by Mayo. 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/ 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.

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.
• 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.

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

• Advancing and completing workflows and processes
• Developing or contributing to assessments, reports, analyses, business plans, market research and other material related to assigned projects
• 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.
• Evaluate invention disclosures coming from Mayo's research and clinical activities and assistance in processing these disclosures and any resulting patent applications: a) assist in identifying potentially patentable inventions; b) provide background materials, such as prior art searches; c) assist in drafting patent applications; d) assist in evaluating all patent correspondence, including the review of cited art with investigators; e) assist in right to use searches by identifying and evaluating third party intellectual property requirements; (f) assist in preliminary analysis of patent threats related to current Mayo products; and g) assist in educating Mayo Clinic staff regarding patent issues.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level