It didn’t take long for Jack Miner to fit into the city of Cleveland. When he joined Cleveland Clinic Innovations as the new Managing Director for Cleveland Clinic Ventures this September, he had no idea that his mantra of “All In” already had a special place in the heart of Clevelanders. The slogan of the Cavs’ historic championship win is now flying on a banner in his office, but he has plans for these two words go beyond basketball.
“Being ‘all in’ here at Cleveland Clinic is more than just a mindset,” says Miner. “It’s a strategy to maximize the results of our spin-off companies. It’s throwing as much weight behind our portfolio as possible to build each spin-off into successful, sustainable companies.”
Jack’s approach has paid off in previous stops. Prior to Cleveland Clinic Ventures, Jack was the Director of the Venture Center at the University of Michigan. At UM, he launched more than 50 startup companies and worked with a portfolio of more than 300 emerging technologies spanning all industries. Companies from the Tech Transfer portfolio raised billions of dollars over the years, with $700 Million in venture capital on his watch. Prior to this, he had roles within seven different venture capital-backed software companies, where he was able to witness the business creation and monetization process from the inside.
His entrepreneurial energy, though, goes beyond his career stops.
“I grew up listening to my grandfather, father, and aunts and uncles describe the running of their family business. Thanksgiving was a like a sales retreat, and the intricacies of closing solid deals was gradually instilled in me,” recalls Jack. “So when I’m building businesses and negotiating contracts, I feel right at home.”
In his new role at Cleveland Clinic Ventures, Jack will oversee a team that will focus on the 76 spin-off companies in its portfolio, of which 79% are still in existence. He will also play a lead role in spinning off new companies and raising the funds needed to not only get off the ground, but to get all the way to market. By focusing on what the companies need to look like in market (or when the get acquired) gives the Ventures team an end point from which the plans can be walked back, according to Jack. These plans will include funding strategies, technology road maps, and business model development.
Jack will be the first to tell you that being “all in” isn’t as simple as it sounds, especially when it comes to healthcare.
“Healthcare is an exciting, but ever-changing, and sometimes unpredictable marketplace,” says Jack. “We are going to be as intentional, collaborative, and transparent as we can to create as much certainty as possible for everyone involved, from the founders and board members to the investors and community partners. I look forward to taking this tremendous pipeline of companies to a new level.”
Oh and one more thing:
“I suppose I’ll give this whole Cavs fan thing a shot. Just don’t ask me to give up the Detroit Tigers.”
We’ll take what we can get. Welcome aboard Jack!
For more information on Cleveland Clinic Ventures, please reach out to Jack Miner at firstname.lastname@example.org