Senior Associate - Business Development - Partnerships

In this onsite individual-contributor role, you will support Mayo Clinic Business Development by completing project workflows and producing assessments, analyses, reports, and business plans. The position initially emphasizes Medical Devices and Health IT within the Partnerships Work Unit.

Key Responsibilities

• Support the mission of Mayo Clinic Business Development through completion of workflows, processes, and deliverables.
• Develop assessments, reports, analyses, business plans, market research, and other materials for assigned projects.
• Manage multiple projects at the same time and organize work to meet project needs.
• Contribute to overall project management activities.
• Source, evaluate, analyze, and develop new business opportunities, including partnerships, joint ventures, new company spin-offs, investments, and mergers and acquisitions.
• Identify opportunities across Mayo Clinic and the marketplace, connecting them with operational units in alignment with the Mayo Clinic strategic plan, prioritized market opportunities, and competitive activity.
• Help build a network of industry, entrepreneurial, and investor contacts to support business development and commercialization activities.
• Evaluate the commercial potential of medical inventions and discoveries from Mayo’s clinical and research activities, including development and implementation of technology sales and marketing plans.
• Manage the patent process.
• Identify potential commercial partners, negotiate license agreements and commercialization arrangements, manage partner relationships, and advise Mayo physicians and scientists on intellectual property protection and technology-based business matters.
• Facilitate development and commercialization of Mayo Clinic technologies by collaborating with Mayo staff, external companies, entrepreneurs, and investors.
• Support feasibility assessments, market analyses, and competitive evaluations to determine potential impact and commercial viability.
• Create materials to communicate and promote technologies, such as summaries, presentations, and supporting documentation for internal and external stakeholders.
• Monitor industry trends and emerging technologies, contributing to improvement of development processes while ensuring compliance with regulatory, ethical, and confidentiality standards.
• Support planning and execution of technology development projects and commercialization efforts, including scope, timelines, deliverables, and coordination with internal and external stakeholders.
• Source, evaluate, and execute strategic and financial investments aligned with Mayo’s organizational priorities.
• Ensure opportunities meet defined investment criteria, return thresholds, and governance requirements.
• Assist with portfolio management and advise executive and department leadership on critical financial decisions.
• Assess opportunities against investment criteria and capital structure standards, including managing financial modeling, valuation, scenario analysis, and comprehensive diligence activities.
• Facilitate investments through coordination with organizational departments, teams, and investment committees.
• Perform and manage post-deal activities, including governance and reporting.
• Collaborate with other Work/Portfolio Teams, including Biopharmaceuticals and Diagnostics.
• Work is typically placed into two Work/Portfolio Teams, with focus on projects and opportunities categorized within one or more Work/Portfolio Teams.

Minimum Qualifications

• Master’s degree required, or an advanced degree preferred (e.g., PhD, MD, JD), in business, science, or a 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, IP commercialization, licensing, patents, partnerships, investments, start-up companies, and/or sourcing partnering opportunities in health care, medical/biotechnology).
• Alternatively, Bachelor’s degree with a minimum of three years experience parallel to the areas above.
• For roles within the Commercialization Work Unit, two years experience directly related to technology licensing.
• Degree requirements may be met through experience equivalency (for example, two years experience equivalency for a Master’s degree; four years for a Bachelor’s degree; two years for an advanced degree).
• Demonstrated ability to operate successfully in business development and technology commercialization, navigating complex internal and external relationships.
• Excellent verbal and written communication skills for interactions with diverse stakeholders.
• Strong project and time management skills, with the ability to manage several initiatives simultaneously.
• Entrepreneurial/intrapreneurial qualities.
• Strong analytical skills and the ability to work independently on assigned projects.

Preferred / Additional Qualifications

• 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 and regulatory issues assessment, monitoring product or operating unit performance, technical sales, technology evaluation, negotiations, contract drafting, and evaluation of scientific and commercialization potential.
• Experience working in an organization or role directly related to one or more relevant Work Teams may receive special consideration.
• Additional consideration may be given for experience with an academic medical center or equivalent setting, mergers and acquisitions, financial modeling and analytical valuation experience, Chartered Financial Analyst certification (complete or in progress), and experience with a national consulting firm in related industries or functional areas.

Compensation & Work Schedule

• Compensation: $107,400 - $150,400 per year
• Schedule: Full Time
• Hours per pay period: 80
• Days/Hours: Monday - Friday, business hours
• Exemption Status: Exempt

Benefits

• Multiple plan options (Medical)
• Delta Dental or reimbursement account for flexible dental coverage (Dental)
• Affordable vision plan with national network (Vision)
• HSA and FSAs for eligible expenses (Pre-Tax Savings)
• Competitive retirement package

Location & Additional Information

• Location: Rochester, MN (onsite)
• Benefits eligible: Yes
• Sponsorship: This vacancy is not eligible for sponsorship, and Mayo Clinic will not sponsor or transfer visas for this position.
• STEM OPT: Mayo Clinic does not participate in the F-1 STEM OPT extension program.
• Weekend schedule: Not applicable
• International assignment: No
• Recruiter: Julie Melton