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

inning teams each received $25,000 in a seed funding grant, access to more than 250 top industry mentors and 6 months of acceleration support including access to designated incubation space throughout Arizona.

"Cultivating innovation is woven into the culture and heritage of Mayo Clinic,” says Wyatt Decker, M.D. Vice President, Mayo Clinic; CEO, Mayo Clinic in Arizona. “The AZ Furnace Program represents an opportunity to fuel innovation alongside our strategic partner, Arizona State University, as well as the other esteemed contributors. AZ Furnace is a truly powerful and well-designed incubator for such activities and we look forward to participating during this second cycle."

Funded by the Arizona Commerce Authority and BioAccel, the AZ Furnace Accelerator will officially launch in September of 2013. As a stimulant to the Arizona economy, the startup teams invited into AZ Furnace must incubate their new companies in the acceleration spaces being made available to them across the state.

“AZ Furnace has proven itself to be a valuable tool for the technology transfer offices of leading research institutions,” said Charlie Lewis, vice president of venture development for Arizona Technology Enterprises, the technology transfer arm for ASU. “By providing entrepreneurial teams with access to top technologies in both the physical and life sciences areas, new companies are being launched that will allow the benefits of these discoveries to be realized by society.”

The goal for the second round of AZ Furnace is to increase the number of startup teams that apply to, and are funded by, the accelerator. “Bringing on additional technology transfer participants, like Mayo Clinic, will increase the number of cutting-edge, high-potential intellectual properties available for interested entrepreneurs who are looking to capitalize on research discoveries to create viable businesses,” said Gordon McConnell, associate vice president for ent
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