Among this year’s MBA graduates from the Carlson School, 30 received their MILI Specialization. This specialization, offered by the Medical Industry Leadership Institute (MILI), gives students hands-on experience in functional areas of the medical industry from finance and marketing to operations, information technology, and market valuation.
To earn a specialization, students much complete three MILI or medical industry classes, including an experiential learning course. Since its founding 11 years ago, MILI has awarded 258 specializations.
“MILI is at the forefront of medical industry education for MBA students,” said MILI’s associate director Jessica Haupt. “Students who earn a specialization demonstrate their specialized knowledge of the medical industry and set themselves apart from other MBA candidates when searching for their next career opportunity.”
MILI’s courses span the range of industry sectors, including device, pharma, and delivery. Its robust roster of specialized classes are a draw to students not necessarily seeking careers in the medical industry. Of this year’s graduates, 74 of them took at least one MILI class. Many took more than one, so those 74 students enrolled in a total of 164 MILI courses. “MILI has become the focus of one of the most in demand fields of study areas of study for MBA students at Carlson school with over 25 percent of applicants,” said MILI’s Director and MBA Associate Dean Steve Parente. “I could not be more proud of Carlson’s MILI alumni and the innovations they create to improve lives and build economic vitality regionally and throughout the world.”
Some students also participated in the Medical Industry Valuation Lab, an experiential learning setting in which emerging medical technologies are reviewed and valuated. More than 200 medical innovations have been assessed since the lab’s creation.
Supporting MILI is an extensive National Industry Council, comprised of senior-level executives from national medical companies as well as banking and consulting firms with strong connections to the medical industry. “Our engagement with corporations is important to keep us current on the topics that are relevant to their changing business,” Haupt said. MILI also boasts eight Executives in Residence, field experts who share their specialized knowledge by participating in activities such as teaching, interacting with the University and business community, advising, and generating ideas to help further the mission of MILI.
MILI also has a strong affiliate group, numbering about 325. Affiliates are alumni or others in the medical industry field who make themselves available to current students. Through informational interviews, sites visits to companies, or speaking engagements, MILI’s engagement with its affiliates helps broaden its students’ perspective and understanding of the field.