Minneapolis Saint Paul Regional Economic Development Partnership - GREATER MSP

Health & Life Sciences Greater MSP boasts a large and closely networked BioBusiness community with over 600 companies The employment in medical technologies grew 36% over the past five years while the average in the rest of the country grew by only 1%. More importantly, when we look to our future with over 18% of current graduates obtaining a degree in science, engineering, technology and mathematics that number will continue to grow. The Greater MSP region is also home to two of the world’s leading institutions in life science and technology research. The University of Minnesota (ranked 9th as a public research institution in the world) and the Mayo (ranked 3rd as an overall hospital) forming one of the most powerful partnerships in the industry making the Greater MSP region a world leader in biotechnology and biomedical research. An estimated $2.9 Billion in R&D is done in the region. More than anywhere in the world. With over 2,533 registered patents in 2010, Greater MSP is a leader in research and development and is positioned to remain a leader well into the 21st century. According to the U.S. Patent and Trademark Office, between 2008 and 2012: •Medtronic (1,138 patents), Guidant Corp. (988 patents), and Boston Scientific (568) had the largest number of patents among medical device companies •MN registered more than 1,458 patents in light, thermal and electric surgery applications—nearly 40% of all patents of that type in the U.S. •MN is home to international R&D facilities for advanced manufacturers. Top patent producers include IBM (1,949), 3M (1,315), and Honeywell (848). •Minnesota is 2nd nationally in magnetic information storage patents, 4th in digital memory patenting, and 6th in number of patents related to database management. •Minnesota ranks 10th nationally for patent production: over 81,000 were granted between 1963 and 2012.