Partner, Medical Devices, Cleveland Clinic Ventures

Cleveland Clinic Cleveland , OH 44114

Posted 2 months ago

Job Details Responsible for participating in a successful, investment return-focused program that actively manages the creation of medical device startup companies based on Cleveland Clinic inventions and technologies, as well as sourcing, due diligence, and leading investments into external startups where a strategic return can also be derived.


  • Evaluates business opportunities related to Cleveland Clinic developed technologies by analyzing product development status, customer needs, market factors and resource requirements.

  • Assists and mentors Cleveland Clinic inventors in critical business formation decisions which will include sharing project planning and management skills in order to nurture internal teams involved with the development of potential new companies.

  • Helps Cleveland Clinic startups raise funds to accelerate technology commercialization. The funds should be milestone-driven which lead to an investment from a high performing Venture Capital firm or Strategic Partner. The ideal candidate will be highly engaged with the startup team around setting goals and milestones, correcting operational issues, and assessing strategic alternatives.

  • Assists in creating the initial business model, engaging the founders and/or management team, and securing initial funding to accelerate the business formation process which will include connecting startup projects to relevant resources, both internal and external to Cleveland Clinic.

  • Coordinates activities with all others in the Cleveland Clinic Business Development teams and participates in the ongoing development of Cleveland Clinic Ventures by fostering on-going external relationships with entrepreneurial and venture communities.

  • Identifies and reports forward-looking Key Performance Indicators of portfolio companies for stakeholders related to the Cleveland Clinic startup entities.

  • Works with the Medical Devices Advisory Council to determine feasibility, success factors, and potential commercial pathways for potential spin-out companies.

  • Manages a portfolio of existing Device companies as a board member or observer to achieve the highest possible financial return.

  • Prepares analytical reports on portfolio companies for internal/external stakeholders. This will involve financial modeling using Excel, preparing PowerPoint presentations, and incorporating data from various information vendors, databases, and scientific literature.

  • Enforces Cleveland Clinic policies and procedures for Cleveland Clinic startup companies, and reviewing Cleveland Clinic startup corporate agreements for accuracy.


  • A Master's degree in the biological, physical, engineering sciences, or business.


  • A proven track record in forming new enterprises to address an emerging market opportunity, raising early stage capital for portfolio companies, building teams in a startup environment, and successfully exiting through sale of company or assets.

  • Experience in negotiating term sheets, cap tables, employment agreements, and shareholder agreements.

  • The candidate should have significant business formation and industry experience in markets related to medical devices as an early-stage venture investor.

  • Excellent interpersonal, oral, and written communication skills. The ideal candidate is a critical thinker who is able to problem solve and manage diverse issues. S/he must be comfortable in speaking with senior healthcare executives and key clinical opinion leaders.

  • Considerable understanding of the policies, procedures and culture associated with working within a research organization.

  • Excellent project management and product management skills and experience including understanding of medical device technology development stages including ideation, to pre-clinical, to FIH, and IDE. Prior understanding of regulatory pathways and reimbursement systems is a must.

  • Established network of entrepreneurial and venture contacts.


  • A minimum of 10 years' experience in a combination of early stage venture capital investing and business formation experience with new product development in the medical device market.

  • A minimum of 3 years of demonstrated management experience.

  • Relevant work experience in an operating role within a medtech startup is highly looked upon.

  • Experience in negotiating term sheets and other structured deals with Venture Capital firms and an understanding of the technology transfer licensing process to startup companies is a plus.

  • Impeccable integrity, work ethic, and commitment. Self-starter attitude. Organized and detail-oriented personality with the ability to multi-task in an entrepreneurial environment.

  • Must be a team player and work well with others in a collaborative, innovative culture.


  • Manual dexterity sufficient to operate office equipment.

  • May require extended periods of sitting, standing and walking.

  • Must be able to walk to attend meetings; must have normal or corrected vision to normal range.

  • Ability to clearly communicate by phone and in person.


  • Follows Standard Precautions using personal protective equipment as required for procedures.

Key Words: Innovation, Medical Device, venture capital, capital ventures, ventures, portfolio, product development, start ups, investing, inventions


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Partner, Medical Devices, Cleveland Clinic Ventures

Cleveland Clinic