When the Medical Alley Association launched Medical Alley Starts early last year, it intended to build stronger networks within the local ecosystem of medical device startups.
What it didn’t anticipate was the appetite that startups in other parts of the country and the world would have in partnering with the Golden Valley-based organization as they developed and commercialized their own products.
Now Medical Alley is partnering with the government of Québec for the second year on an accelerator that’s bringing medtech and digital health companies based in the Canadian province to Medical Alley.
The cohort was arranged by the Québec Government Delegation in Chicago, which represents the Québec government in 12 states across the Midwest, and Investissement Québec, a company established by the provincial government to garner investments in Québécois companies.
Medical Alley’s vice president of intelligence and leader of Medical Alley Starts, Frank Jaskulke, said the organization was initially hesitant to expand its scope outside of Minnesota, but working with different geographies helps grow both ecosystems.
“We’re able to connect them with advisers, mentors and partners to speed up their U.S. market development,” Jaskulke said. “And in doing so, bring new investment and new capabilities here. So Quebec grows. Minnesota grows. We’re all happy.”
Dominic Têtu, director of economic affairs for the Québec delegation, said the accelerator is broken into three stages. First, Medical Alley representatives will host a series of webinars guiding the Québécois companies through strategies to properly enter the U.S. market.
Then, in September, a contingent from Medical Alley will visit Montreal and work with cohort companies on different aspects of their market entry strategy, including how to craft their sales pitch.
Finally, in December, the cohort along with other stakeholders representing life science companies in Québec, will come to the Twin Cities on a trade mission to have discussions with potential clients and partners in Medical Alley.
Québec’s delegate in Chicago, Mario Limoges, said the program is the perfect way to incubate companies that are scaling their business, because they’re able to work with Medical Alley’s worldwide leaders in the sector.
As the program gains traction, Limoges hopes to soon see a Québec-based company take over a share of its market, because it was able to use Medical Alley’s resources.
Looking to the decade ahead, Têtu is expecting to see a cluster of Québec-based companies with operations in the Twin Cities.
"We wish we had a Medical Alley in each and every other sector so we could work with similar companies," Têtu said.
