MEDICAL ALLEY, Minn. — Medical Alley is honored to be one of only two organizations awarded a 2023 Market Development Cooperator Program (MDCP) grant from the U.S. Department of Commerce’s International Trade Administration (ITA). This program supports U.S. firms in their export efforts by removing trade barriers and enhancing U.S. industry competitiveness.
Medical Alley has been awarded more than $147,000.
Medical Alley Starts, Medical Alley’s globally recognized venture platform, will utilize the MDCP award and partnership with the U.S. Department of Commerce to expand high value medical technology service exports in Europe — specifically in growth markets including the United Kingdom, The Netherlands, and Romania.
“This award is a testament to the transformative power of the Medical Alley ecosystem,” Medical Alley President and CEO Roberta “Bobbie” Dressen said. “Our mission is to activate and amplify healthcare transformation, and with this grant, we’re poised to strengthen our reach in key European markets. We thank the U.S. Department of Commerce for this award and look forward to a fruitful partnership.”
Medical Alley currently has Memoranda of Understanding (MOU) with the U.K., The Netherlands and Romania to accelerate program development. Specifically outlined in these agreements is a goal of collaboration with Medical Alley cluster experts to assist with their companies’ commercialization goals. At least 13 Medical Alley partners have already declared their intention to participate in this program.
An MDCP award establishes a partnership between ITA and non-profit industry groups. Through this collaboration, ITA leverages its global network of more than 2,000 experts in over 75 international markets to help non-profit groups pursue innovative projects that address trade barriers, enhance industry competitiveness, and generate exports that create or sustain U.S. jobs.
“Medical Alley has identified regulatory developments in the U.K. and the E.U. that the U.S. health care consulting industry can capitalize on to improve its global competitiveness,” U.S. Secretary of Commerce Gina Raimondo said. “The U.S. Department of Commerce looks forward to partnering with this organization focused on such a competitive U.S. industry.”
With each grant dollar yielding and average of $286 in exports, MDCP is the most successful export grant program at the federal level, according to the U.S. Department of Commerce.
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About Medical Alley®
Founded in 1984, Medical Alley represents one of the most diverse and influential health and life sciences ecosystems in the world. Our network of more than 800 partners spans the full continuum of care – from payers to providers to digital health, biotech, medical device and everything in between. Our mission is to elevate the Medical Alley region as the epicenter of health innovation and care.
