Israel Innovation Authority and Mayo Clinic to Cooperate in MedTech Innovation
Interested companies are invited to submit applications to co-develop and/or validate their healthcare related technology solutions
Jerusalem. May 14th, 2019 – The Israel Innovation Authority and Mayo Clinic today signed a Memorandum of Understanding (MOU), during the MIXiii Biomed Conference and Exhibition,to cooperate in the field of technological innovation. The focus will be on health technologies, in particular new medical devices, diagnostics, software solutions and therapies.
This joint program was developed by Mayo Clinic and the Americas Operations of the Innovation Authority. Through this collaboration, Israeli companies and Mayo Clinic can co-develop, test, and pilot impactful technologies, services and devices that help meet the unmet medical needs. Project submissions to the Innovation Authority may include funding applications for joint R&D as well as pilot and validation activities.
Minister of Economy and Industry, Mr. Eli Cohen: “The health market and especially pharma are among the fastest growing industries in the world. There is no doubt that the agreement signed between a global Healthcare brand house such as MAYO Clinic and the Israel Innovation Authority constitutes a vote of confidence in Israeli startup industry and innovations, further highlighting Israel’s key position in shaping the future health landscape.”
“This collaboration with Mayo Clinic provides amazing opportunities for Israeli companies to collaborate with a world renowned academic medical center with multidisciplinary expertise,” said Aharon Aharon, CEO, Israel Innovation Authority. “The combination of Israeli innovation and Mayo Clinic’s world-class clinical experience, expertise and facilities, will enable the creation and development of cutting-edge solutions that could prove instrumental in laying the groundwork for the future of global healthcare.”
Mayo Clinic has recently launched their Israeli Startup Initiative to promote collaboration between promising Israeli startups and Mayo Clinic innovators. This will be enhanced by this new collaboration with the Israel Innovation Authority where the goal is to accelerate availability of medical innovations to the public, introduce Israeli healthcare technology to the U.S. and promote the development of new discoveries for the benefit of patients everywhere.
Successful applicants from Israel will receive funding directly from the Israel Innovation Authority according to its regulations and procedures, while Mayo Clinic will provide in-kind services and expertise. In exchange, Mayo Clinic and Israeli companies may agree on equity investment and/or a revenue share of the products or services that are the subject of the project.
“We are excited for the opportunity to expand our outreach to the Israeli innovators through this initiative, as they are a part of one of the most vibrant innovation ecosystems in the world,” says Amir Lerman, M.D., medical director of the Mayo Clinic Israeli Startup Initiative and a Mayo Clinic cardiologist. “This program will help advance discoveries that will deliver hope and better health to people.”
This process will stimulate the generation and development of new or significantly improved products or processes for commercialization in global markets. This call for proposals with its focus on health technologies has two tracks: The first deals with collaborative R&D projects between Israeli companies and Mayo Clinic; the second focuses on pilot and validation-stage projects for Israeli companies facilitated by Mayo Clinic.
Israeli applicants must be registered and operating in Israel.