The Mayo Innovation Scholars Program introduces undergraduates to technology transfer in biomedical sciences by having teams of students from multiple disciplines (e.g., biology, chemistry, economics, and business) analyze inventions in development at the Mayo Clinic. Over 6 months, teams consult with inventors, intellectual property experts, and faculty mentors as they research and explore project viability, potential applications, market forces, ethical dilemmas, and financial considerations. Team members read relevant patent applications as well as journal articles from within the basic sciences, clinical sciences, and business. In some instances, they perform original research, such as surveys of health care providers or potential consumers. The program culminates in formal presentations that include teams' recommendations about what should be done with the invention (e.g., shelve it or pursue a licensing agreement, or pursue some other option) to an audience of intellectual property experts, physicians, faculty, and student peers. (Contains 1 figure.)