The Mayo Innovation Scholars Program (MISP) is highly selective and brings together teams from 12 of Minnesota’s private colleges and universities to analyze a product in development at Mayo. Each team of four undergraduates is lead by an MBA student and is advised by a project manager in the Mayo Office of Intellectual Property. Teams present their findings to college faculty, inventors, and Mayo Clinic representatives. Participants gain valuable experience as consultants understanding how product development intersects science, business, and bioethics. Upon successful completion of the program, participants are awarded $1,000 stipends for their work. Eligible students are undergraduates studying science, business, or economics.