For Immediate Release: February 19, 2019

For Inquiries Contact:

Julia Coleman
JColeman@medicalalley.org
952.746.3813

Medical Alley Association Statement on Governor Walz’s Budget Proposal

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, 131 of 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.

About the 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.

www.medicalalley.org

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