Innovation Scholars, comprised of Innovation Partners (IP) and the Mayo Innovation Scholars Program (MISP), is highly selective and provides outstanding liberal arts students from 12 of Minnesota’s private colleges and universities the unique opportunity to engage in the business development processes of medical innovations in real time. Teams of students are challenged with interdisciplinary learning as they explore innovations at the intersection of science, business, medicine, and entrepreneurship. These projects contain real-world challenges associated with development and commercialization of biomedical innovations and products and provide students with exceptional practical exposure and experience. Teams present their findings in the form of business plans, presentations, or specific deliverables requested by early-stage companies or Mayo Clinic. Innovation Scholars programming is a collaborative effort between selected Minnesota private colleges, the Mayo Clinic, and Medical Alley early-stage medical companies.
Innovation Scholars at Augsburg University
Teams consist of an MBA student, 4 total undergraduates (2 to 3 science students and 1 to 2 business/economics students), and 2 faculty mentors (1 from biology and 1 from business administration). The program runs from October through March, with students contributing approximately 150-160 hours over the course of the project. Teams complete their work by late February or early March and present their findings to Mayo Clinic project managers, inventors, or company leadership. Students who successfully complete the program receive a $1,000 stipend.
The application for the 2026 Mayo Innovation Scholars Program will open in early Fall.
For more information, contact Dr. Ibrahim Keita, Business Administration, keitai@augsburg.edu.