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Mayo Clinic Joins the Arizona Furnace Technology Transfer Accelerator
Date:9/17/2013

Scottsdale, AZ (PRWEB) September 17, 2013

Arizona State University and Mayo Clinic announced today that Mayo will become a technology transfer participant to join Arizona Furnace, the startup accelerator that supports entrepreneurial teams using designated research discoveries and intellectual property as the basis for new companies.

As ASU and its current partners prepare to launch the second application season for AZ Furnace, Mayo Clinic will provide access to high potential technologies in their extensive intellectual property vault. These technologies, as well as those from ASU, Northern Arizona University and Dignity Health in Arizona, will be made available to entrepreneurs interested in using those discoveries to create products, services and new companies.

“This is a tremendous opportunity to have technologies conceived by Mayo Clinic staff vetted for startup opportunity potential through the AZ Furnace,” says Jim Rogers, chair Mayo Clinic Ventures. “We look forward to working together to shape the field of medicine for clinicians and ultimately for patients.”

Launched in September of 2012, AZ Furnace began as a pilot initiative to address the critical issue of improving the technology transfer process for public and private research institutions. In particular, the Furnace method in Arizona focused on research partners who wanted to offer their technologies to startups for commercialization. The successful AZ Furnace pilot program offered up more than 250 technologies for entrepreneurs to choose from. More than 50 teams applied to this first competition, and 22 of the most promising were invited to make a final pitch to a panel of judges from the various research and funding partners.

In November 2012, ten winning teams, made up of external entrepreneurs and internal staff and faculty, were announced by AZ Furnace and the two funding partners, Arizona Commerce Authority and BioAccel. W
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