To support innovation and leadership in the healthcare and medical device industries, the University of Minnesota's Medical Industry Leadership Institute Student Association (MILIsa) and Medtronic are hosting the Medtronic Interdisciplinary Healthcare Case Competition (MEDIHCC) December 1-3 at the Carlson School of Management.
The event, now in its fourth year, brings together University students from the fields of law, medicine, public health, public policy, healthcare administration, and business to create innovative solutions to a strategic problem currently faced by the medical device industry.
"This competition is a great opportunity for University of Minnesota students to showcase their tenacity, expertise, and drive to Medtronic," says Professor Stephen Parente, director of the University's Medical Industry Leadership Institute. "For many students, this is the first time they have worked with so many diverse perspectives - and yet the other judges and I find this multidisciplinary approach is the best way for teams to quickly get the bandwidth to come up with viable, multifaceted solutions to complex problems."
This year's competition will feature 10 teams of students hailing from seven different colleges at the University. Representatives from Medtronic will present the case to the students on the opening night of the competition and the teams will have 36 hours to develop and support their recommendations.
Each team will present its analyses and recommendations to a panel of academic and industry judges on Saturday, December 3. A dinner and reception will be held following the presentations at which judges will announce the three finalists who will present their cases to a panel of senior executives at Medtronic World Headquarters in Fridley, Minn.
"Medtronic has long supported the University of Minnesota and highly values this distinctive competition," says Medtronic CFO Gary Ellis. "Students are able to develop new skills, form new partnerships, and gain visibility while Medtronic can use the case competition to evaluate the student's ability and capabilities."
"MEDIHCC provides a great opportunity for cross-functional work that mimics the collaboration within companies and really allows the participants to go outside of their comfort zones," adds Dan Gilbertson, Carlson Full-Time MBA '12 and MILIsa president.
Cash prizes will be awarded to the top three teams, with the winners receiving $4,000.