Students

Why should I consider applying?

IS experiential learning sets you apart. You develop skills in multidisciplinary teamwork, dealing with ambiguity, critical and creative thinking, and professional presentation. You will have an impact. You work with real innovations in real time, producing deliverables that move actual medical innovations toward the marketplace. Former team members have described IS as “the highlight of my undergraduate career.”

How are IS team members selected?

Each college/university sets its own criteria and process for selecting four undergraduate students to comprise a multidisciplinary team aligned with the specific IS project assigned. Students generally submit resumes, complete applications, seek faculty recommendations, and may participate in interviews. Graduate Team Leaders are interviewed and selected by the Graduate Campus Mentors.

How many hours is each team member expected to invest in IS?

Team members, both undergraduate and graduate, invest between 100 and 150 hours each in their project between October and February.

Do students receive a stipend?

Student participants, both undergraduate and graduate, receive a $2,000 stipend upon completion of the program.

Project Sponsors

Why should my company submit a project for an IS Team?

• IS deliverables directly support your business development objectives. Multidisciplinary teams complete rigorous technology reviews and market assessments and produce data-driven recommendations that consistently meet or exceed the expectations of project sponsors.
• Project Sponsors make a difference in the educational development of students across Minnesota.
• Project sponsors gain visibility and access to top undergraduate and graduate students which can serve as a low-cost recruiting tool for technical, business and leadership roles.

How are projects selected?

IS staff vet all submitted projects for scope and fit. Staff members work closely with company sponsors to tailor projects and requested deliverables to company priorities and the IS timeline. Companies may submit multiple projects.

What makes a strong project?

Strong projects provide clear expectations and direction with defined parameters and specified deliverables of most value for the sponsor. Sponsors identify a Contact accessible to the team, provide data and information up front, make connections, encourage questions, and provide feedback.

What is the cost of participating?

Project sponsors make a $5,000 contribution to IS per project. A sliding scale is available for pre-revenue companies.

How valuable are the project deliverables?

IS project deliverables consistently exceed or meet sponsor expectations. Deliverables
inform product development, marketing strategies, company decision-making, and investor
outreach. Valuable opportunity to scout new talent for future employment opportunities and to
mentor the next generation of healthcare innovators.

Alumni

How do I list IS on my resume?

Your IS experience is not a job, and you are not employed by, or acting as a representative of, Mayo Clinic, a specific biomedical or healthcare company, or NASA in any way.

Innovation Scholars- Mayo Clinic	Innovation Scholars- (Biomedical/healthcare company name)	Innovation Scholars- (NASA)
Worked as part of a multidisciplinary undergraduate student team under the guidance of a graduate student team leader. Researched Mayo Clinic innovation through Mayo Clinic Business Development to assess tech transfer potential and opportunities. Presented recommendations to an audience of 75, including Mayo Clinic employees and college faculty, staff, and students.	Worked as part of a multidisciplinary undergraduate student team under the guidance of a graduate student team leader. Researched challenges surrounding commercialization faced by [COMPANY NAME], an emerging biomedical/healthcare company. Presented recommendations to an audience of 75, including company leaders and college faculty, staff, and students.	Worked as part of a multidisciplinary undergraduate student team under the guidance of a graduate student team leader. Researched potential commercialization of NASA innovation for terrestrial use and business development. Presented recommendations to an audience of 75, including NASA Technology Transfer Officers, business leaders and college faculty, staff, and students.

What information can I share regarding my IS experience in job interviews and graduate school applications?

Long after your participation in the program is over, the rules of confidentiality about the intellectual products remain in place. A general rule is that you can talk about the structure of the program and your experience in the program, but not about the specifics of your project/invention.

How may I continue to engage with IS after completing the program?

You may continue to connect with IS in several ways after completing the program:

• Join the IS LinkedIn group
• Connect IS staff with potential sources of projects within your current company
• If you are still an undergraduate, promote/organize a Dojo Explore series on your home campus (Refer to Resources under About Us for program description.)
• Volunteer to speak at a Dojo Explore session at your alma mater
• Volunteer to mentor new IS alumni as they explore graduate school opportunities or launch their careers
• Make a financial donation to support IS