U of M to offer new master’s program for medical device innovation
Contact:
Rhonda Zurn, College of Science and Engineering, rzurn@umn.edu, (612) 626-7959
Newest program from the U of M’s Technological Leadership Institute positioned to further Twin Cities’ reputation as a world leader in medical device innovation
MINNEAPOLIS/ST. PAUL (01/17/2014) – The Technological Leadership Institute (TLI) at the University of Minnesota has announced it is recruiting for its newly launched Master of Science in medical device innovation (MS-MDI) program. This program will prepare students to understand, anticipate, and effectively manage the innovation challenges of the complex, highly regulated global medical device industry.
This novel program is “a result of an eight-year effort emanating from TLI’s 2004 strategic plan, which captures input of over 150 stakeholders from more than 50 public and private enterprises, who confirmed the local to global need, content and format for this interdisciplinary program. This TLI program is an important step in pursuit of the institute’s continuing 27-year mission, to develop local and global leaders for technology-intensive sectors of our economy,” noted Massoud Amin, H.W. Sweatt chair in Technological Leadership and director of TLI.
According to LifeScience Alley, the medical technology industry employs more than 250,000 people in the state of Minnesota. Some of the world’s top device manufacturers are in Minnesota including Medtronic, 3M, St. Jude Medical and Boston Scientific. The medical device industry is expected to continue its rapid growth in the coming years–more than 30 percent in five years from $164 billion in 2010 to $228 billion by 2015.
“While the four largest companies have experienced shrinkage in the near term, these organizations will need to replace aging workers, and hire more “deep generalists”–those in business, regulation and policy areas or those with scientific or technical training–with a broad understanding of the innovation ecosystem and business model dynamics that make or break commercial success,” Amin noted. “The MS-MDI program is at once broad-based and deeply focused, thus offering the flexibility to build expertise in one or two areas of specialization, while providing the ability for 360 analysis and integration. In creating this program, we have received enthusiastic support and involvement from industry and policy leaders.”
In an increasingly competitive industry where change is the norm, many factors can make or break success for promising new medical devices and technologies. Employees in the medical device and related fields will benefit from a comprehensive understanding of management of innovation in this area.
TLI’s MS-MDI program integrates multiple disciplines including technology innovation, project and business management, intellectual property, regulatory affairs, and public policy and provides students a systemic understanding of “end-to-end” medical device innovation dynamics that includes but goes well beyond the traditional technology focus.
As the newly hired James J. Renier Chair in Technology Management and director of graduate studies for the new MS-MDI degree at TLI, Daniel L. Mooradian will be responsible for finalizing curriculum development and launching the program. “The technical training that students and early professionals generally receive–while necessary–is insufficient for success in the medical device industry,” says Mooradian. “This program is designed to provide students with the knowledge of industry, regulatory and global trends needed to give them a sustained competitive career advantage and to give their companies enhanced capability for innovation and growth.”
Scheduled to launch its first cohort in June 2014, the 14-month MS-MDI program is a valuable option for recent graduates and early professionals who want to succeed and assume positions of greater leadership within the growing medical technology industry.