That included a mix of private and public capital, according to the Golden Valley-based Medical Alley Association.
Cash continues to flow into Minnesota’s medical startups. On Monday, the Medical Alley Association reported that its member companies raised more than $347 million during 2021’s first quarter.
That figure includes $109 million in private capital and $238 million through public markets, the med-tech trade group said in a news release. Investments in the first quarter are paving the way for “another record-breaking year” for Medical Alley, the group said.
“While 2020 was characterized by large, later-stage raises, 2021 is starting out with a refilling of the early-stage pipeline,” Medical Alley officials said in the release. “A total of 43 companies raised funds, nearly doubling Q1 2020’s total of 22.”
Analysis: Fundamentals of Arizona’s economic growth
Arizona State University often touts its annual U.S. World News rating as the number 1 university in the world for “innovation.” But what does that really mean? How does this concept fit into Arizona’s economic outlook?
Michael Porter, a Harvard professor who has dedicated his career to studying economic competitiveness, believes that “Innovation is more than just scientific discovery. Innovation stretches beyond science and technology, and includes all the activities involving the discerning of needs and the transformation of knowledge into commercial products, processes, and services. In advanced regions, prosperity rests heavily on the capacity for continuous innovation.”