The third-annual Medtronic Interdisciplinary Healthcare Case Competition, a University of Minnesota graduate student team event designed to support innovation and leadership in the healthcare and medical device industry, will be held January 27 to 29, 2011 at the Carlson School. The competition features a $4,000 first-place cash prize.
Sponsored by Medtronic Inc. and coordinated by the Medical Industry Leadership Institute Student Association (MILISA), the competition presents a rare opportunity for University graduate students in the fields of law, medicine, public policy, public health, and business to collaborate in teams to create innovative solutions to a contemporary challenge faced by the medical device industry.
"What makes the competition special is that you get to meet and work with students from other schools at the University and develop a network with them," says Archana Balasubramanyam, Carlson Full-Time MBA '11, member of the 2009 winning team, and MILISA co-president. "Also, I loved the interdisciplinary aspect of the competition and learning about what's important to the different players in the medical industry."
This year's competition will feature six to eight teams, each of which will include at least one student from the master's programs of business administration, healthcare administration, and public health. After being presented with a real-life challenge faced by Medtronic, teams will be given 36 hours to research and analyze the challenge and prepare a presentation.
On Saturday, January 29, each team will present their analyses and recommendations to a panel of first-round judges comprised of University faculty. The judges will determine which three teams developed the best solutions based upon specific criteria.
The top three teams will be announced at the awards dinner, which will be held near the Carlson cafeteria, on Saturday evening. Those teams will move on to the final round at Medtronic world headquarters where they will present their recommendations to a panel of Medtronic executives. The date for the final presentations has yet to be determined.
"Medtronic has long supported the University of Minnesota and has had great success hiring tremendous employees from its programs," says Will Au-Yeung, senior corporate development associate, Medtronic. "We think the case competition is a fantastic event that provides students an extremely unique way to develop true medical device business leadership experience."
While the topic of the challenge and presentations will remain private due to proprietary subject matter, the public is welcome to attend the awards dinner.
In addition to the $4,000 first-place prize; $2,000 will be awarded for second-place; and $1,000 for third-place.