Growing a Successful MedTech Innovation Ecosystem – Hint, it isn’t just the money
Investment in medtech and medtech ecosystems has surged over the last decade resulting in a diversifying geography of companies. Established hubs like Northern and Southern California, Boston, and Minnesota now see competition from fast growing hubs in other parts of the United States and world. While some see competition as zero sum and a threat, others see it as an opportunity to more rapidly advance medical technology worldwide and even grow the competitiveness of existing hubs.
This panel discussion will examine the factors that make for a successful hub and question some of the dogmatic wisdom like "it’s all about the money" in an effort to understand what does - and does not - influence ecosystem growth; and most importantly, contributes to medtech company success.
The one-hour panel discussion will consist of two moderators (Professor Hubert Lim, Director of Bakken Medical Devices Center; and Frank Jaskulke, Vice President of Avio Medtech Consulting) and five expert panel members knowledgeable in medtech and business ecosystems. The panel members will be asked a series of insightful and provocative questions on the session topic from the moderators and the audience.
Joni Ekstrum, South Dakota Biotech
Joni Ekstrum
Executive Director
South Dakota Biotech
Eddie Pauline, Ohio Life Sciences Association
Eddie Pauline
President and CEO
Ohio Life Sciences Association
Mickayla Rosard, Groove Capital
Mickayla Rosard, BAA
Partner
Groove Capital
Mickayla is Partner at Groove Capital and Groove Investment Group, a pre-seed venture fund and angel network focused on Minnesota companies. Mickayla is the creator and visionary behind the annual conference, Angel Fest, which has quickly become the largest early-stage investor conference in the upper midwest.
Mickayla also serves as a Fellow at Forge North, leading their statewide initiative to engage more angels, especially women and underrepresented investors. Additionally, Mickayla is a columnist at Twin Cities Business Magazine writing on early-stage investing.
Previously, Mickayla first started out in private equity through her work at the North Dakota/Minnesota EB-5 Regional Center – which helped local companies secure foreign investments through the federal EB-5 investment program. Mickayla quickly earned the trust of her board and respect of industry peers. At 25, Mickayla took over as the Director of the Regional Center where she led the organization to its first year of profitability and grew their portfolio from $1M to $138M in foreign investments over her tenure. As a result this investment created a total of 52,650 direct and indirect jobs. Mickayla then went on to serve as the Chief Strategy Officer of Proxy Financial. Mickayla was also asked to sit on Proxy Financials’ board, serving as their first female board member. Mickayla also worked at the Department of Homeland Security's Center of Innovation, working with industry giants like Intel and IBM. Mickayla first cut her teeth in venture in 2009 at Dakota Venture Group.
Mickayla has been recognized as 40 Under 40; Minnesota business leaders to watch in 2023; and 2022 Women in Business Honoree, among others. She holds a series 82 and series 63 license.
Mickayla stays active within her community both through volunteering and philanthropic giving. She is passionate about supporting women in leadership; coaching entrepreneurship and startups; and ensuring Minneapolis is a more equitable community. For 13 years, Mickayla has served on a Facility Corporation Board and currently holds the Treasurer seat. The board owns and manages a historic 100-year-old facility, which is rented by 50 college students. In 2020, Mickayla served on a capital campaign committee raising $30,000 to help offset the financial pressure caused by COVID-19.
Boards and Volunteer Involvement:
> Dakota Venture Group – Advisory Board Member
> UND Center of Innovation – Board Member
> Impact 100 – Founding Member
> UND - Mentor
> Heilicher School – Finance Committee Board Member
> Women Venture – Small Business Essentials Mentor
> Kappa Alpha Theta – Facility Corporation Board, Treasurer
> Kaela Berg Campaign, MN House District 56b – Volunteer
Chris Schad, Mayo Clinic
Chris Schad
Director of Business Development
Destination Medical Center
Mayo Clinic
Frank Jaskulke, Avio MedTech
Frank Jaskulke (Session Co-Organizer)
Vice President Sales & Business Development
Avio Medtech Consulting
Frank Jaskulke is committed to making the job of medical innovators easier. He spent 20 years at the Medical Alley Association building community assets to help startups access capital, customers, and talent. Now, he is at Avio Medtech, partnering with entrepreneurs to help their ventures take flight.
Hubert Lim, Bakken MDC
Hubert Lim (Session Co-Organizer)
Director, Earl E. Bakken Medical Devices Center
Bakken Professorship for Engineering in Medicine
Endowed Lions Professorship in Otolaryngology
Institute for Translational Neuroscience Scholar
Co-Director, Center for Neural Engineering
Professor of Biomedical Engineering and Otolaryngology
University of Minnesota, Twin Cities