Mayo Innovation Scholars Program 2009 - 2010

                                    2009 Mayo Innovation Scholars

 Front: Chakong Thao '09, Lindsey Conroy '09, Lisa Lindgren (Management Advisor), Megan Kack '10, Julie Christle (Internship Director)

Back: Leif Nelson (Mayo Licensing Manager), Russell Boe (Augsburg College MBA Program), Delthia McKinney '09

 Chakong Thao '09 and John Meslow, Mayo Innovation Scholars Program Founder

 

MN Private Colleges Article

Click on links below for information.

Purpose
Faculty Advisor Roles and Responsibilities
MBA Student Leader Roles and Responsibilities
Program Overview and Sequence of Events
Academic Year Time-Table 2009-2010

Purpose

The Mayo Scholars Program offers an opportunity for selected undergraduate science and business students along with a small group of MBA students, to research specific projects submitted by Mayo Clinic professionals through the Mayo Ventures and Licensing activity. Participating schools are Augsburg College, Carleton College, College of St. Benedict/St. John’s University, Concordia College (Moorhead), Gustavus Adolphus College, Macalester College, St. Mary’s University, St. Olaf College, and the University of St. Thomas.

The program is a collaborative effort between the Mayo Clinic and several Minnesota private colleges and universities with financial support from the Medtronic Foundation and the Minnesota Private College Council.

The objectives of the program are:

• To assist Mayo Medical Ventures in the assessment of new product submissions by Mayo researchers
• To provide research internship opportunities for undergraduate science and business students
• To provide leadership development and research opportunities for MBA students

Application Deadline: October 1

Eligibility:

     - Application open to current Juniors and Seniors only
     - GPA requirement of 3.0 or above
     - Project will begin October 1 and end April 15
     - Submit a resume and cover letter to faculty contact by October 1

Selection Criteria:

A faculty selection committee will review applications and select CSB/SJU students, who will be notified by October 10. The selected students will work as a team with a MBA project leader from St. Thomas or Augsburg beginning October 15.

For further information or to submit a resume:

Barbara May bmay@csbsju.edu is the contact for the Natural Science Division. 

Lisa Lindgren llindgren@csbsju.edu  is the contact for the Social Science Division.

For general questions about the program students may also contact Julie Christle, Internship Program Coordinator, jchristle@csbsju.edu or phone (320) 363-5799.

Faculty Advisor Roles and Responsibilities

1. Establish the selection process and select student participants.

2. Introduce the projects to students, and insure confidence that the students understand the level of commitment that they are making.

3. Ensure confidence that the students will be capable of finding necessary information, and serve as a resource during the project.

4. Attend Mayo Scholars Program Orientation Meeting for MBA student leaders, the Licensing Managers from Mayo, and faculty advisors.

 5.  Accompany the students and MBA to meetings at Mayo.

 6.  Meet or maintain contact with the student team weekly.  Serve as an additional resource for the 
      students in terms of the research or interpersonal dynamics

7. Be in regular communication with the MBA student, serving as a resource and guide in managing undergraduates.

8. To the extent possible, ensure that students are investing an appropriate amount of time, have required resources, and are keeping to the work schedule crafted by the MBA student.

9. Serve as advisor for the college’s requirements in the event the student is receiving academic credit.

10.  In coordination with the MBA student, review the business plan at various stages of development,
      and coach the team through practice runs of their final presentation.

11. Attend final team presentations in Rochester.

MBA Student Leader Roles and Responsibilities

 1.  Provide leadership and team management by giving direction to team members in their approach
     to the project, and insuring that all milestones are attained.

2. Schedule initial meeting with the Licensing Manager and the faculty advisor to increase understanding of the assignment and finalize expectations and timetable.  Schedule and organize additional meetings with team members in Rochester if needed/appropriate.

3. Create a project plan at the outset of the project, including identifying tasks, milestones and task dependencies.  Identify major risks that could prevent project completion.

4. Set clear expectations for the team and hold team members accountable.  Ask team members for their expectations of the MBA leader, and be accountable to the team.

5. Work with the team to determine areas of strength, and attempt to match them to the tasks that need completion.

6. Guide the group on SWOT analysis, marketing techniques, and writing a business plan.

7. Collaborate with your Licensing Manager as a key source of information and nuances on the project.

 8.   Maintain open communication with the faculty advisor throughout the project.

 9.   Approve individual and team expenses.

The success of the project will be determined in the critical evaluation of whether there is potential for success.  Recommendations for or against that premise are critical.  A recommendation not to proceed with the project is acceptable.

Program Overview and Sequence of Events

 * Mayo submits research projects to the Program Director, including expectations, specifications, desired outcomes, and target completion dates.  Submission will also include recommendations for  students with specific majors and/or fields of interest.

* Projects are reviewed with a small group of faculty advisors (from participating schools) to determine the number of students and qualifications required.

* Graduate Schools identify MBA team leaders.

* Undergraduate schools are advised of the projects, type of student needed, and select students for participation. 

* Team members meet with MBA student leader to determine individual responsibilities, process, planned outcomes, and time frame.

* Each team meets at the Mayo Clinic in Rochester with the Licensing Manager and researcher (if possible).  The purpose is to share information and finalize expectations and timing. 

* Team research begins.  Licensing Managers and the college faculty advisor provide active mentoring during this time.

* MBA student leader meets with the Licensing Manager midway through the project to review progress and make any corrections to the team process and planned outcome.

* Final presentation of results of the study is made in Rochester.  All members of the team are present.  Faculty is invited to attend.

* The participating students, faculty, and the Mayo Clinic will complete program evaluations at the end of the project year.

2009-2010 Academic Year Time-Table

  JULY

     -   Licensing Managers identify a minimum of ten projects
     -   Project list forwarded to Program Director by August 1

  AUGUST

      -  Program Director reviews projects with Advisory Committee to determine student qualifications.
      -  Projects are sent to participating schools before August 30, including the qualifications
         desired for student team members

  SEPTEMBER

      -  Projects selected by participating schools

  OCTOBER

       - Students for Mayo Scholars Program selected by October 1

       - Orientation of MBA students on Thursday, October 8, with Licensing Manager and faculty
          mentor present

  NOVEMBER

       - Within two weeks after orientation, MBA and Licensing Manager meet

  DECEMBER

       -  Work commences/continues within project teams

  JANUARY

       -  Mid point meeting with MBA and Licensing Manager, with faculty mentor involved

  FEBRUARY

       -  Work continues within project teams

  MARCH

       -  Final presentations on March 10,11, and 12 (in Rochester @ Mayo Clinic exact location TBD)