This week, technology and business leaders praised a research collaboration between the University of Minnesota and medical technology company Boston Scientific with a 2013 Tekne Award.

Given by the Minnesota High Tech Association, the award celebrates "technological breakthroughs that improve the lives of Minnesotans and people around the world."

Boston Scientific became the university's first collaborator in the Minnesota Innovative Partnerships (MN-IP) program, which allows companies to pay an upfront fee and receive an exclusive worldwide license to intellectual property resulting from sponsored research.

Jay Schrankler, executive director of the U's Office for Technology Commercialization, said the award was positive feedback for MN-IP.

"It's encouraging to see that our efforts to make the U more inviting for business are beginning to show real results," Schrankler said. "Our partnership with Boston Scientific is resulting in exciting new medical technologies and innovative approaches to some of our society's greatest healthcare challenges."

According to the university, Boston Scientific and the U are now working on several projects to improve patients' health through "cutting-edge medical solutions. Boston Scientific's industry experience pairs up with the university's world class talent and facilities, granting both parties access to resources normally out of reach."