HealthTech Arkansas, a new and expanded version of two previous health care accelerators, is accepting applications for the summer program.
HealthTech Arkansas is a collaboration of Arkansas Heart Hospital, the University of Arkansas for Medical Sciences, Washington Regional Medical Center, Arkansas Urology, Mercy Hospital and clinics and CHI St. Vincent.
The program is seeking companies in three categories -- digital health and software, connected medical devices, and diagnostic platforms.
The companies will be selected by June 30.
HealthTech Arkansas replaces two previous programs -- Health InnovatAR and HubX--Life Sciences.
HealthTech Arkansas is focused on bringing the most innovative health care technologies to Arkansas and will be directed by Jeff Stinson, who managed the two previous health care accelerators in the state. Stinson is also executive director of the Fund for Arkansas' Future, the state's largest angel investment fund, a fund that provides capital to budding businesses.
"The guaranteed opportunity to conduct pilot projects with health care providers is what truly sets our program apart from other accelerators," Stinson said. "Provider access for early stage companies is the most important thing you can do for their success. Through these pilot projects, our companies get a direct connection to hospitals and physicians that give them the opportunity to demonstrate value with their technologies and products."
The Arkansas Economic Development Commission awarded HealthTech Arkansas $250,000 for the health care accelerator through a program designed to increase acceleration activities in targeted industries in the state.
"Our culture is built upon embracing new technologies that help us provide better patient care," said Andrea Nelson, chief clinical officer at Arkansas Heart Hospital. "We've found HealthTech Arkansas to be a highly impactful way for us to identify early-stage companies with new health care technologies and engage with them in a way that delivers significant value to both our hospital and the companies."
The effect on health care providers is also beneficial.
"[The University of Arkansas for Medical Sciences] has a mission to educate tomorrow's health care professionals and provide high-quality, innovative care," said Dr. Richard Turnage, chief executive officer of UAMS Medical Center. "We are excited to continue our partnership with HealthTech Arkansas, giving our patients access to new, innovative technologies, and inspiring our employees to be more innovative every day."
Each finalist company will receive $75,000 of investment capital and is guaranteed two pilot projects with Arkansas health care providers.
More information about HealthTech Arkansas, including an online application, can be found at HealthTechArkansas.com
Business on 02/09/2019