2017 Innovator Award
University of Minnesota’s Carlson School of Management Announced as 2017 Innovator Award Recipient for their Medical Industry Valuation Lab
The MBA Roundtable is pleased to announce that the Carlson School of Management’s Medical Industry Leadership Institute (MILI)
has won the MBA Roundtable 2017 Innovator Award in recognition of its Medical Industry Valuation Lab
The MBA Roundtable Innovator Award was created in 2011 to promote educational initiatives that advance innovation in MBA education and acknowledge the institutions that drive change in the field. The Innovator Award raises awareness of ongoing continuous curricular and co-curricular improvements and educates employers, business school leaders, and faculty about innovative practices of best-in-class MBA programs. For business schools, the Award publically recognizes their leadership to initiate and achieve curricular reform.
Initiatives are first evaluated on concept, execution, and impact; finalist schools are identified and interviewed and one school is selected as the award recipient. Any business school that offers an MBA degree and has taken initiative such as program revision, course content or delivery changes, or co-curricular experiential learning opportunity is eligible to participate. Since its inception, over 75 business schools have submitted their initiatives. Finalist and recipient school initiatives cover every aspect of the content-pedagogy-format curricular framework with impact reach locally and globally, and with benefits to the learner, business and community.
Finalist schools for 2017 were the University of Illinois at Urbana-Champaign’s world’s first MOOC-Based stackable MBA
and the University of Alabama’s STEM Path to the MBA Program
"The MBA Roundtable was blessed with many excellent submissions this year for the Innovator Award. The choice was difficult but in the end one submission stood above the rest – the Carlson School at the University of Minnesota. What stood out was how many exciting elements were contained in their program. Significant academic learning – check. Unique program – check. Experiential learning – check. Impact on the local business community – check. Career enhancement for participants – check. In the end, the checkmarks just added up to Innovator Award for the Carlson School. Check." Joe Fox, President, MBA Roundtable
About the University of Minnesota’s Valuation Lab:
The valuation lab is MILI’s signature course and represents interdisciplinary, experiential learning at its finest. It brings together students from across the University of Minnesota campus to work in cross-functional teams conducting rapid market assessments for new medical innovations, helping evaluate lifesaving ideas and streamlining the time to market for critical new products.
“This award is a testament to MILI’s unique position to shape teaching and leadership in the medical industry,” says Pinar Karaca-Mandic, the new director of MILI and an associate professor in the Finance Department. “Through the valuation lab, MILI provides an opportunity for the students’ academic toolbox to intersect with industry insights and applications.”
Since launching in 2008, the Medical Industry Valuation Lab has assessed more than 300 medical innovations for organizations that include Fortune 500 companies, hospitals, medical device manufacturers, startups, and nonprofits, as well as individual inventors.
Students in the valuation lab produce more than 30 analyses a year, gaining valuable hands-on experience, while clients get a top-to-bottom breakdown of their medical technology and its prospects in the market. This kind of mutual student-industry benefit is at the core of MILI’s mission.
The valuation lab has also extended its reach to the global stage: Through a partnership with the Stockholm School of Entrepreneurship and the Karolinska Institute, a Swedish medical school, MILI has created a two-week, cross-cultural lab in Sweden. It’s also replicated that model in Shanghai and the Bay Area, a hub of medical device innovation and the host of January’s Global Valuation Lab.
Through MILI, the Carlson MBA Program provides specialized training, knowledge, and experience in the medical industry to prepare students for leadership-track careers. The majority of students in the valuation lab come from the MBA programs (full-time and part-time), but there are also nursing, medicine, law, engineering, information technology, and other students thanks to memorandums of agreement with eight collegiate units at the University.
2017 Innovator Award Announcement (L to R)Jeff Bieganek - Executive Director, MBA Roundtable; Phil Miller - Assistant Dean for MBA & MS Programs, Carlson School of Management, University of Minnesota; Tina Mabley - Assistant Dean and Director, Full-time Texas MBA Program, McCombs School of Business, University of Texas at Austin; Joe Fox – President, MBA Roundtable (Photo Credit: Jim Roese Photography)
About the MBA Roundtable Innovator Award:
The search for innovative ideas and approaches is central to managerial practice and to the pursuit of excellence within any organization. Business schools are certainly no exception. Through the delivery of MBA programs, business schools have a rich history of developing innovative programs, curricula, and processes that positively impact the educational experience and ultimately advance the practice of management worldwide.
Launched in 2011, the MBA Roundtable Innovator Award Program promotes initiatives that advance innovation in MBA education and recognizes institutions that drive change in the field.
The Innovator Award Program is designed to:
- Raise awareness to businesses and to business educators of revitalization and improvements in MBA curricular and co-curricular content, format, and pedagogy.
- Educate employers, business school leaders, and faculty about innovative practices of best-in-class MBA programs and inspire others with ideas.
- Recognize individuals and schools for their leadership to initiate and achieve curricular reform and enhance their reputation for innovation.
- Enrich and deepen the relevance of the MBA experience and enhances school or program brand with prospective students and employers
The Innovator Award program is administered bi-annually and any business school that delivers an MBA degree may submit an initiative for consideration.
The curricular initiative must be directly related to an MBA degree and demonstrate excellence in MBA program innovation. Initiatives related to other graduate-level degree programs (MSc, MA, MS, etc.) are not eligible.
Ideal entries are initiatives that have been implemented, tried and tested over a period of time and can define measurable outcomes. Initiatives are evaluated by judging panels on the following criteria:
– Overall value proposition, rationale for change, link to overall b-school mission, educational impact, scalability and generalizability in other environments, impact on MBA education
—Complexity of implementation, representative cost and benefit analysis, improvement measures such as revenue growth or cost savings, expedited time to market, enhanced quality
– Quality or overall success measures, key learnings and challenges going forward, future iterations
—Quality of the document and materials, interview, articulation of impact, level of enthusiasm.
The MBA Roundtable Innovator Award is a biannual award and will take place next in 2019. For additional information contact email@example.com.