It might seem audacious for a Minnesota town of 100,000 people to try to become “the Silicon Valley of medicine,” but Rochester has a major ace in its sleeve: the giant Mayo Clinic.
The clinic is the state’s largest employer, but it has difficulty finding talent and skilled workers. Mayo, the city and the state of Minnesota will invest $6.5 billion in Discovery Square, a downtown tech park it hopes will attract medical startups.
Mayo recently reversed policy to let employees own or manage outside companies; a business accelerator helps employees develop products.
But watch out Rochester: here comes Cleveland. That city’s Medical Capital Innovation Challenge will award $100,000 in prizes in April.
Photo credit: James Neeley