Which MN Health Care Startups Landed The Most Angel Funding In 2016?

Local health care startups targeting regenerative medicine, obesity, glaucoma, blood cancer and other fields led the list of the biggest 2016 recipients of funding from investors eligible for the Minnesota Angel Tax Credit. Read more at Twin Cities Businesses.

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Twin Cities startup with record VC haul bags another $46M

Med-tech company CVRx Inc., which has bagged more venture funding than any company in Minnesota history, has closed on $46 million in equity financing and landed commitments for another $25 million.

Read more at the Minneapolis-St. Paul Business Journal.

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Med-tech partnership promotes Minnesota as a place to do business

Studies show that Minnesota offers many advantages for medical technology companies, but industry will need future investments in trade promotion, local workforce engagement and strong supplier networks to keep its edge in the ever-changing global field.

Enter the Minnesota Medical Manufacturing Partnership. The multi-stakeholder public-private MMMP, led by economic development group Greater MSP, was formally launched Tuesday as a means to increase Minnesota’s reputational standing among potential med-tech investors and to give local projects an advantage with 11 federal agencies that coordinate more than $1 billion in economic development assistance.

Read more at the Star Tribune.

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Bright Health Raises $80 Million In Venture Funding

Bright Health, a Minneapolis-based insurance startup, announced that it had secured $80 million in venture funding. Read more at Twin Cities Business Magazine.

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Minnesota is tops in med-tech deals

Midwest health care startups raised $1.5 billion in 2015 with Minnesota leading the region, according to a report from Cleveland-based nonprofit BioEnterprise. Learn more at the Minneapolis-St. Paul Business Journal.

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Health care startup RetraceHealth raises funding from HealthEast, Blue Cross

RetraceHealth, a health care startup that offers patients video and in-home visits with nurse practitioners, has closed on a funding round led by two Twin Cities health care organizations and McKesson Corp.’s venture arm.

Read more at the Minneapolis-St. Paul Business Journal.

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Congress passes tax package, includes extension of R&D Tax Credit and suspension of medical device tax

With the end of 2015 approaching, federal lawmakers passed a $650 billion federal tax package. The package includes, among other provisions, a permanent extension of the federal research and development (R&D) tax credit and a two-year suspension of the medical device tax. These provisions are great news for Minnesota’s high-tech and medical technology communities.

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Mayo Clinic’s THINK BIG Challenge to offer entrepreneurs $100,000 start-up funds, expert guidance

Mayo Clinic’s Center for InnovationMayo Clinic Ventures and AVIA have announced the Mayo Clinic THINK BIG Challenge, a national competition offering awards totaling $100,000 for entrepreneurs with innovative ideas to transform the future of health and health care.

Entrepreneurs can apply for one of two $50,000 THINK BIG challenge awards in these categories:

  • Got Health?
    This challenge will focus on healthy people staying healthy and explore areas such as eating healthy, enhancing well-being, monitoring risk factors and engaging in daily exercise.
  • I Am Not My Disease
    This challenge will tackle the presumption that people are defined by their disease and explore areas such as access to health data, health literacy and behavior modification.

In addition, Mayo Clinic experts will guide winners for a year as they develop their concepts for market. Applications are due by Saturday, Aug. 15, at transformconference.mayo.edu/think-big.

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