BY THE NUMBERS
MINNEAPOLIS—The medical technology industry continues to grow more important to the greater Minneapolis region. Last year, its venture capital funding ranked second nationally at $79.5 million—a 296% year-over-year jump for all VC funding types (from Q3 2015 – Q3 2016)—all of it for later stage companies or expansion, according to JLL. Nationally-known firms like Medtronic, St. Jude Medical and Boston Scientific all make their homes in the area, forming a “Medical Alley” in between St. Cloud, the Twin Cities and Rochester. And although many tech firms have headed to the Minneapolis CBD, 81% of that venture capital funding is headed to medical device companies that sit in the suburbs. JLL researchers believe the bigger footprints available in the suburbs has been a major draw for both device research and manufacturing.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
