Medical Valuation Laboratory Student
The Valuation Lab is a transformative learning experience for every student.
The Medical Valuation Lab will teach students how to conduct rapid market assessments for new medical innovations. The students in the course produce over 30 analyses per year, helping assess lifesaving ideas and streamlining the time-to-market for critical new products. Since 2008, more than 500 innovations have come through the Lab.
The Valuation Lab welcomes students from nine different colleges at the University of Minnesota, providing an inclusive environment where diverse perspectives contribute to groundbreaking analyses.
- Learn from experienced industry professionals: Gain insights and guidance from seasoned experts.
- Hands-on experiential learning: Work on real medical innovations and acquire practical skills.
- Expand your network: Connect with experts, alumni, inventors, and a diverse community of professionals.
- Collaborate across disciplines: Students from nine colleges at UMN join cross-functional teams, learning from each other's unique perspectives and experiences.
- Collaborate with diverse teammates: Work with individuals from various backgrounds and programs.
- Identify and prioritize project tasks
- Conduct real-world research
- Design voice of the customer interviews
- Create compelling pitch-deck
- Distill research into white paper for the client
- Learn from subject matter experts: Gain insights on regulatory issues, intellectual property, medical technology, market size, reimbursement, finance, and more.
- Engage in multiple projects: Work on three distinct projects per full semester.
Additional Lab details
Three options:
On-campus:
MILI 6995 - Fall/Spring Semesters - 2 or MILI6996 - 4 credits
In three project cycles over the course of a semester, the student teams and instructors tease out the intricacies of each innovation. Each technology is studied not only by that project’s team, but by other Valuation Lab students, this means each student gains familiarity and experience with up to 15 innovative medical technologies. After weeks of intellectual inquiry, the students prepare a mock client presentation for faculty critique, and as the project closes they give final recommendations to their inventors.
Bay Area:
MILI 6997 - January - 4 Credits
In the Bay Area Lab, teams of students complete one rapid production market analysis of promising medical technologies and services to determine potential for success in a global market. Course project work exposes students to Bay Area innovations, venture firms and inventors. The program is a mix of class sessions, site visits and group work.
Global:
IBUS 6997 - Spring & Summer - 4 credits
A strong demand for valuation of new medical technologies continues to grow not only in the U.S. but also throughout the globe. This course is offered by the Carlson Global Institute in both Stockholm Sweden as well as with the University of Cambridge, Cambridge UK. Students participating in this class gain resume quality experience working on a live project, increase their knowledge of the business environment in Europe, and develop life-long friendships with fellow students. Learn more on IBUS 6997
Study with leading scholars engaged in cutting-edge research on topics of significant relevance to the medical industry, in partnership with firms located in the Twin Cities and around the world. Develop skills and knowledge through supervised and hands-on experiential learning opportunities designed to prepare graduates for leadership roles in premier firms.
The Medical Industry Valuation Laboratory is a graduate-level elective that uses an interdisciplinary and intercollegiate approach to provide a rapid production market analysis of promising medical technologies and services that have the potential to benefit and expand Minnesota's economic development.
This Laboratory provides students the opportunity to work on an interdisciplinary team with students to develop "first look" 10-page market analysis white paper and presentation for clients with a promising new technology in a rapid production model (5 week turnaround). Working with students from various disciplines, the teams will analyze the market size, evaluate a technical, business, preliminary intellectual property, and regulatory challenges, as well as develop a 'go or no go' recommendation for continuing product development or market feasibility.
This course is open to all MBA students and to students enrolled in any other graduate programs across the university.
There are no course pre-requisites, but you must be enrolled in a graduate or certificate program at the university to register for this course. Students would benefit from having taken a course with a medical industry focus. The best overview class to prepare students is MILI 6990 - The Healthcare Marketplace.
Part-Time MBA students can take this course up to three times for a total of six credits. Since projects and interdisciplinary teams will vary from semester to semester, taking it more than once will provide you the opportunity to experience a variety of clients internal and external to the University, and to have leadership positions on the interdisciplinary teams.
Since Full-Time MBA students have access to the other Carlson Enterprises, they will only be able to take MILI 6995 once. Full-time students are also eligible to take MILI 6997 and IBUS 6997 in addition to MILI 6995.
Note: There is an opportunity for a Full-Time MBA student to take a 10-credit version of the course as their Enterprise requirement. Interested students should contact Jessica Haupt (jahaupt@umn.edu) for more information and special application instructions for this opportunity. Note that Full-Time MBA students selected for the 10-credit version of the Valuation Laboratory will not be able to enroll for additional credits in MILI 6995 beyond the 10 credits.
At this time, you only need to register online for the Laboratory as you would any other elective course.
Yes you can, but you will only be able to take the Medical Valuation Laboratory course once.
Classes are held on Thursday evenings. There is a mandatory daylong "bootcamp" on the first Saturday of each semester. This daylong session provides detailed information and presentations by experts on intellectual property issues, regulatory issues, and technology commercialization. Teams will be assigned and project information distributed.
Team meeting days/times are flexible and determined by the team members. Meetings with clients will be schedule on an as needed basis.
Note: the Laboratory space is available to registered students via UCard access whenever the school is open.