Minneapolis, MN –Medical Alley Association greatly appreciates Governor Walz and Lt. Governor Flanagan’s budget proposals that recognize and help address challenges facing the health innovation and care community, including the creation of the Minnesota Innovation Collaborative and the restoration of the Angel Investment Tax Credit.
The revitalization of this tax credit is a big step towards providing a business environment that attracts investment and increases the opportunity for health technology and care organizations to succeed.Health technology companies were among the biggest users of the AITC when it was previously in effect. Between 2013 and 2017, 131of these organizations leveraged $108 million of investment via this credit. These AITC alumni went on to raise an additional $372 million of investment.Several other states are bringing back or instituting similar credits, making reinstating Minnesota’s AITC all the more critical.
The Minnesota Innovation Collaborative (MIC) is a recognition that Minnesota needs to do more to support, grow and promote our startup ecosystem.This program is a positive recognition that the state can do more to cement Minnesota as the region the world turns to when it comes to solving our biggest health challenges.
“Medical Alley looks forward to working with Governor Walz, Lt. Governor Flanagan and DEED Commissioner Steve Grove to develop and implement these and other policies that move Medical Alley towards realizing its vision of being the global epicenter of health innovation and care” said Shaye Mandle, President and CEO of Medical Alley Association.
Founded in 1984, the Medical Alley Association supports and advances the global leadership of Medical Alley’s healthcare industry, and its connectivity around the world. MAA delivers the collective influence, intelligence and interactions that support Medical Alley.