Healthcare conference offers an opportunity for startups to seek investments.
The Medical Alley Innovation Summit was back for the second consecutive year in Minneapolis this week.
The two day conference, which took place at the Hilton in downtown Minneapolis on October 2-3, allowed emerging medical companies to be exposed to venture capitalists, investment bankers and large medical companies for potential partnerships or investments. The summit featured companies from as far away as Israel and the Czech Republic and speakers from companies like MedTech, Johnson and Johnson, Fox Rothschild, United Healthcare Technology, and St. Jude Medical.
There were also multiple Minnesota-based healthcare companies represented at the conference. Minnesota has a growing and vibrant healthcare scene, making it the perfect venue to host such an event.
Not only is Minnesota home to the nationally renowned medical school at the University of Minnesota and one of the top hospitals in the country with the Mayo Clinic, but the state also has a long history of launching healthcare, medtech and biotech startups. The conference concluded with a fireside chat with one of Minnesota's legends in the MedTech space, Manny Villafana.
In 2016, 98 Minnesota health technology startups raised $420.3 million — highest in the Midwest, according to Medical Alley. Minneapolis was also ranked by the M25 Group as the second best midwestern city for startups in the Midwest for 2018.
“What makes the healthcare startup scene in Minnesota so successful is a combination of a rich talent pool concentrated here, numerous Fortune 100 MedTech and Healthcare HQs, a strong connection with the U of MN, and member-supported organizations like Medical Alley.” says Laurie Knutson, who is the president of ?mcare, a health technology company based in Burnsville. The company works towards solving the problem of medical adherence through remote technologies, ensuring that the right pill is taken at the right time, by the right person.
“Minnesota is filled with intelligent, hard-working health professionals who are looking to make a difference in the world with their solutions,” Knutson continues.
With similar startups tackling issues with new, fresh ideas, it is an exciting time for startups in Minnesota.
