MedTech Masters Q&A is baaaaaack! And we couldn’t be more excited to kick off our fall series with medtech mover and shaker Kylle Jordan, business development manager at Destination Medical Center. Her 15-year career is packed with experience leading international affairs and economic development initiatives in the medtech industry. This year, Minneapolis-St. Paul Business Journal recognized Kylle’s outstanding accomplishments, naming her to the prestigious 40 Under 40 list. Congratulations, Kylle! We’re honored to share more about Kylle and what this dynamo is up to – let’s go!
What is your background in medtech? How did you get started?
I don’t have formal training, just many years of working with founders. I’m often asked if I have a scientific background (I don’t) or a history of investing (again, nope). I got my start in this space via economic development. My degrees are in international economics, which I used early in my career at the Canadian Consulate in Minneapolis. We worked with Canadian innovators seeking to enter the U.S. healthcare market, as well as American companies expanding to Canada. I got my first exposure to regulatory and payer/provider differences across borders in that role. I then worked with medical device manufacturers who were expanding their physical operations through the Business Development team at the Minnesota Department of Employment and Economic Development and GREATER MSP. Companies seeking their next manufacturing or R&D location would compare the cost of doing business in Minnesota to that of Boston, California or Texas – and as you might imagine, we were not only cost-competitive but offered ancillary benefits through the dense network of medtech companies in the state. I rounded these experiences out with a role at Medical Alley building an international network of similar regional ecosystems and gaining a far more nuanced understanding of the challenges medtech founders face, as well as the network that exists here to help them succeed.
Tell us about your role with Destination Medical Center – what are you working on these days and what energizes you?
This is a dream job – my primary goal is to build awareness in international health technology clusters of opportunities to work with Minnesota-based investigators and experts when they first enter the U.S. market. I get to speak with founders and innovators from around the world, helping them take the next step in their business journey through the Minnesota ecosystem and Mayo Clinic network all while improving outcomes for patients. DMC has invested in an innovation district in Rochester – Discovery Square – that allows us to offer a ‘soft landing’ for global innovators. Not only do we have this real estate option, but also connections in the Mayo Clinic to help these founders build their clinical evidence; as well as the dense ecosystem of organizations in Minnesota that help their innovations make it to market, including the team at Bellmont Partners. I’ve been told that our ability to connect these international teams directly into the specialized support they need – whether that is legal incorporation in the U.S., understanding how to achieve reimbursement, contract manufacture, and so much more – is truly unique amongst U.S.-based innovation clusters.
DMC recently celebrated its 10-year anniversary. What are some of the biggest changes the organization has experienced, as well as accomplishments achieved over the past decade?
We sure did, and we’ve accomplished great things so far:
- 15% increase in the number of jobs in Rochester, outpacing outpacing midwestern peer cities
- 29% increase in the number of construction jobs
- Mayo Clinic’s $5 billion Bold. Forward. Unbound. in Rochester investment announcement
- 391,000 square feet of new research and innovation space delivered
- 100% increase in the amount of downtown housing
- $1.6 billion in new state and local tax revenue
- 300% increase in the size of the University of Minnesota Rochester graduating class
- 15 vacant or underutilized blocks redeveloped
- 3 new or upgraded public spaces
My team within DMC is building our innovation ecosystem here in Rochester, so our future is focused supporting technology partnerships with Mayo Clinic and welcoming entrepreneurs to our community.
Why do you think the health care and medtech industry is so prominent in Minnesota?
I half-joke that in this case, necessity is the mother of invention. The Mayo Clinic exists in Rochester due to a terrible weather event – which is not dissimilar to the story of Medtronic’s founding. But what has sustained and driven this industry to the globally recognized hub it is today is collaboration. Whether that’s in the form of competitive manufacturers coming together to push forward legislation that helps the entire industry, or industry professionals sharing their talents with the next generation of founders by becoming angel investors or KOLs – even marketing professionals sharing best practices from other industries in Minnesota (like retail or CPG). The culture here runs on good will and a desire to help each other do our best work for patients.
You are a pro at so many things including building and nurturing relationships and connecting people. Why is this so important in the medtech industry?
In a word, trust. Anyone can use ChatGPT to build a list of companies that provide services like regulatory guidance to early-stage medtech companies, but when you’re a founder that’s got 12 plates spinning in the air, receiving a warm introduction to someone’s trusted partner is much more valuable and efficient. Even more importantly is being able to leverage that trusted network when you run into a challenge – whether that’s connecting to a fellow founder or a subject matter expert. I’ve cultivated a trusted network of professionals who are passionate about supporting early-stage innovation, particularly from outside the U.S., in order to supercharge market access for Rochester innovators.
In your work with international groups, what’s your favorite country or region you’ve traveled to on behalf of DMC and why?
The Netherlands, not just because it’s a beautiful country and there are outstanding technologies coming from their universities and founders, but because their entire ecosystem is focused on supporting innovation. Heck, I once had an issue with my passport and my colleagues at the Dutch Consulate helped me solve it so I could meet with their companies and ecosystem in person at the HLTH Europe conference. The Dutch are serious about driving innovation and building partnerships to last!
Is there anything else you’d like to add that we haven’t asked about?
Come visit us! If you haven’t been to Rochester recently, you’ll likely be surprised at what we’re literally building here. We are always happy to show folks around Discovery Square and talk about the exciting opportunities on the horizon at Mayo Clinic!
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Thank you so much, Kylle, for taking the time to share your experience, insights and passion for medtech – and for all you do to connect people and bring more innovators to Minnesota! Stay tuned for our next installment in this series – a conversation with Chris Newmarker, editor in chief, life sciences at WTWH Media.
Check out our previous Q&As with Frank Jaskulke, vice president of sales and business development at Avio Medtech Consulting; Mark Gardner, founder and managing partner of Gardner Law and Chrysalis Incubator; and Amanda Pedersen, senior editor of MD+DI.
Do you have a life-changing innovation and are looking for help to bring it market? We’d love to hear more! Contact us for a complimentary PR strategy session and brainstorm.