Israel’s Innovation Authority and Mayo Clinic to Cooperate in MedTech Innovation

Photo by Kobi Richter/TPS on 15 May, 2019

By TPS • 15 May, 2019

The Israel Innovation Authority and Mayo Clinic on Tuesday signed a Memorandum of Understanding (MOU) during the MIXiii Biomed Conference and Exhibition in Tel Aviv 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.

The joint program was developed by Mayo Clinic and the Americas Operations Division of the Israeli Innovation Authority.

“Through this collaboration, Israeli companies and Mayo Clinic can co-develop, test, and pilot impactful technologies, services and devices that help address unmet medical needs,” the Innovation Authority stated.

Minister of Economy and Industry Eli Cohen stated that “the agreement signed between a global healthcare brand such as Mayo Clinic and the Israel Innovation Authority constitutes a vote of confidence in Israel’s startup industry and innovations, further highlighting Israel’s key position in shaping the health landscape of the future.”

Aharon Aharon, CEO of the Israel Innovation Authority, added that “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 its Israeli Startup Initiative to promote collaboration between promising Israeli startups and Mayo Clinic innovators.

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 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 Israeli innovators through this initiative, as they are a part of one of the most vibrant innovation ecosystems in the world,” said Dr. Amir Lerman, 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.”

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