The Mayo Clinic Innovation Exchange was founded in the belief that healthcare innovation, regardless of the origination of the idea, deserves a fair chance to realise its benefits. The Exchange strives to democratise the innovation continuum so that the best ideas can be connected to the most appropriate resources, as quickly as possible, for the benefit of patients.
The Exchange is agnostic to the type of innovation — so long as the idea is related to healthcare and aligned with Mayo Clinic’s values. Furthermore, it does not matter who generates the idea or where the idea originates from — within Mayo Clinic or in the global innovation ecosystem, from research, education, or clinical practice. There is no boundary to the form of innovation we support.
How does the Mayo Clinic Innovation Exchange work?
The Exchange is a curated membership-based program that seeks to accelerate the development and adoption of innovative ideas across the broader healthcare industry. It brings together researchers, clinicians, entrepreneurs, industry experts, and investors to develop and commercialise new technologies and ideas that have the potential to improve patient care. The Exchange works closely with government groups as well to help propel innovations in various markets and regions of the world. The team provides a range of support services to help innovators and entrepreneurs bring their ideas to fruition, including access to a network of advisors and mentors, funding opportunities, and access to Mayo Clinic's extensive resources and expertise.
How does the Mayo Clinic Innovation Exchange benefit patients and the broader healthcare industry?
The ultimate goal of the Exchange is to improve patient care and outcomes by bringing novel, breakthrough innovations to patients as quickly as possible. By fostering collaboration, the Innovation Exchange helps to advance the field of healthcare and with making connections to increase the trajectory of solutions. Success for the Exchange is when these innovations can make a real difference in people's lives around the world.
Can you provide an example of a successful innovation that has come out of the Mayo Clinic Innovation Exchange?
Choosing just one is incredibly difficult, but Neuroglee Therapeutic is a great example of how the Exchange can support and accelerate the success of an innovation. Neuroglee is a healthcare startup with a digital therapeutic that helps slow the progress of neurodegenerative diseases. Their current solution is an evidence-based approach to slowing the progress of Alzheimer’s disease and mild cognitive impairment.
Launched in Singapore, Neuroglee joined the Exchange in 2020 to engage with the clinicians and researchers leading Mayo Clinic’s HABIT (Healthy Action to Benefit Independence and Thinking) programme and quickly entered into agreements with Mayo Clinic experts. Together, they are developing Neuroglee Connect, a digital treatment that combines the HABIT program’s proven clinical methods with Neuroglee’s software and AI solutions. Shortly thereafter, Neuroglee raised $10 million series A and relocated their HQ from Singapore to Boston. Neuroglee’s founder has been recognised on the “Forbes Asia 2022 30 under 30”.
“Our collaboration is all thanks to your support and to being an Exchange member — that is how it started, the whole Mayo-Neuroglee collaboration. (We) really appreciate all the help,” said Aniket Singh Rajput, Founder of Neuroglee.
Who can engage with the Mayo Clinic Innovation Exchange?
The Exchange is excited to support all healthcare innovators by facilitating powerful connections into Mayo Clinic and our committed network of experts.
The Exchange is always seeking collaborations with expertise across the entire spectrum of innovation support, from business and legal, to regulatory and funding — let us work together to support innovators.
Drop a line at innovationexchange@mayo.edu or contact us via our website at innovationexchange.mayoclinic.org to know more.
Jennie Kung is the Vice Chair — Innovation Exchange at Mayo Clinic.
