ROCHESTER, Minn. (AP) — A multibillion, 20-year economic development project in Rochester has begun an effort to help the world-renowned Mayo Clinic compete for both patients and entrepreneurial talent.

Sue Moore/Townsquare Media

The goal of Destination Medical Center is to make the city a magnet for technology start-ups and entrepreneurs. It also aims to diversify the region's economy by attracting new businesses.

In a Minnesota Public Radio report Jamie Sundsbak, an entrepreneur and former Mayo Clinic researcher, says the city's risk-averse culture has held it back.

To adapt, Mayo Clinic is making some changes, including lifting policies that blocked employees from owning or holding an executive position with a medical company.

Jim Rogers, Mayo Clinic's chair of business development, says the health care company recently announced Discovery Square, a downtown tech park aimed to encourage daily collaboration among Mayo Clinic employees, start-ups and major medical firms.