In Minnesota, angels smile on medical devices
Some 29 medical device makers benefited in 2011 by a Minnesota program that provides tax credits to angel investors, those affluent individuals who put up capital to nurture new businesses.
According to a March 20 report from the North Star State’s Department of Employment and Economic Development, the program helped a total of 113 startups and led to the creation of 102 new jobs. The medical device industry proved the top attractor of investors and, with $12.6 million, came in just behind biotechnology in total dollars drawn.
Among the manufacturers finding friends in incentivized angel investors were AUM Cardiovascular, Nascent Surgical and Pursuit Vascular.
A handful of healthcare software developers, along with eight companies working in unspecified healthcare services, also received angel dollars through the program; in fact, of the five best-invested industries, only clean technology had no healthcare entrants.
Healthcare’s dominance of angel investments in Minnesota, and the medical device industry’s standing atop healthcare there, are consistent with national venture-capital trends.
According to a March 20 report from the North Star State’s Department of Employment and Economic Development, the program helped a total of 113 startups and led to the creation of 102 new jobs. The medical device industry proved the top attractor of investors and, with $12.6 million, came in just behind biotechnology in total dollars drawn.
Among the manufacturers finding friends in incentivized angel investors were AUM Cardiovascular, Nascent Surgical and Pursuit Vascular.
A handful of healthcare software developers, along with eight companies working in unspecified healthcare services, also received angel dollars through the program; in fact, of the five best-invested industries, only clean technology had no healthcare entrants.
Healthcare’s dominance of angel investments in Minnesota, and the medical device industry’s standing atop healthcare there, are consistent with national venture-capital trends.
Dave P. has worked in journalism, marketing and public relations for more than 30 years, frequently concentrating on hospitals, healthcare technology and Catholic communications. He has also specialized in fundraising communications, ghostwriting for CEOs of local, national and global charities, nonprofits and foundations.