Meet Dr. Steffany Benton, Clinical Director for HealthTech Arkansas

Dr. Steffany Benton is an indispensable component of the team at HealthTech Arkansas. She works one-on-one with our cohort company founders in administering their pilot projects with Arkansas healthcare providers and developing national relationships for potential partnerships with the program. She uses her healthcare knowledge to evaluate new healthcare technologies to make a determination as to which of those technologies have the ability to enhance the quality of care, improve clinical outcomes, improve provider efficiency, and generally add value to the healthcare system. For entrepreneurs, Steffany helps these inventors and startup company founders understand how their technologies and innovations can benefit healthcare organizations.

As a Nurse Practitioner, her experience is extensive, with more than fifteen years working in clinical leadership positions, healthcare innovation, project management, and quality improvement. She understands the complexities of the healthcare system and the synergies found at the crossroads of innovation and clinical care. She has dedicated the last ten years of her career to leading initiatives that improve healthcare accessibility.

Steffany earned a Doctorate of Nursing Practice and a Masters in Nursing Science from the University of Arkansas for Medical Sciences, graduating with distinction. She is board-certified in Family Practice. She has been recognized as one of 40 Nurse Leaders Under 40, Arkansas’s Best Women in Health Care, and Best Healthcare Professionals by AY Magazine for her role in healthcare innovation. She serves on the Arkansas Nurse Practitioner Association’s Board of Directors and is an active member of the Society of Nurse Scientists, Innovators, Entrepreneurs & Leaders, the American Association of Nurse Practitioners, and the American Nurses Association. 

“Working for HealthTech Arkansas is collectively the most rewarding experience of my career. I am able to improve patient outcomes and provider experiences outside of a typical clinical setting. At HTA, we work with high-caliber startup companies with disruptive tech from across the globe. By introducing these companies to our Arkansas provider coalition, I am able to positively impact more patients and providers than ever before. Arkansas is truly unique in its healthcare needs, and working with both our provider organizations and startups to develop pilots and research studies that meet those unique needs has broadened my perspective of how powerful innovation can be.”

Health Innovation Continues To Draw Investments

If you need data behind the overwhelming amount of dollars flowing into health innovation, look no further than the recent article from our friends at Startup Health. In 2021, a combined $44B was invested in health innovation, representing a 2X increase from 2020 and a 20X increase from just 10 years ago. This investment represents capital rounds completed by early-stage healthtech companies.

Both the number of deals and the average deal size are increasing dramatically, along with M&A and IPO activity. Even with this “boom” of the past two years, Startup Health believes we’re on the front edge of this wave. It’s a great time to be in this industry, and we’re so glad HealthTech Arkansas is part of the conversation. Read the full article here.

HealthTech Arkansas Cohort Companies in the News

2018 cohort company Macro-Eyes has been awarded a grant by the Vaccine Confidence Fund to build and test a novel machine learning system to predict local vaccine hesitancy among diverse communities in South Africa. Learn more here.

2018 cohort company Ejenta presented at CES on the Future of Healthcare Driven by Spaceflight, discussing how technologies like AR, Extended Reality, and biosensors are being used to effectively diagnose and treat medical needs in space. Learn more here.

2018 cohort company Lapovations recently received approval from the Arkansas Economic Development Commission for the Equity Investment Tax Credit Program and will now begin fundraising efforts for their Series A round to support the national launch of their AbGrab product. Learn more here

2018 cohort company Day Zero Diagnostics announced the completion of a $21M venture equity financing. To date, Day Zero Diagnostics has raised over $33M in venture capital financing and over $10M in non-dilutive funding. Learn more here.

ARKANSAS CHILDREN’S INNOVATION CENTER ANNOUNCES NEW HEALTHCARE TECHNOLOGY HACKATHON

Arkansas Children’s Innovation Center, in partnership with Arkansas entrepreneurial support organizations, will present a 48-hour digital health challenge featuring a $10,000 cash prize. The event will be held from April 1st through April 3rd, 2022 and applications for participation are now open. 

“Hosting this hackathon is one example of the commitment from Arkansas Children’s to driving innovation throughout our organization,” said Marcy Doderer, CEO of Arkansas Children’s, Inc. “I’m looking forward to seeing the end results from some of Arkansas’s most talented software developers as they build solutions for real challenges faced by our organization.”

The event is a collaboration between Arkansas Children’s, Inc., Cartwheel Studio, Startup Junkie Consulting, HealthTech Arkansas and the Office of Entrepreneurship and Innovation in the Walton College of Business at the University of Arkansas. Participants in the competition will work alongside Arkansas Children’s clinicians and administrators to solve real-world pediatric healthcare problems.

“The differentiating factor for our hackathon participants is they’re starting with an organization like Arkansas Children’s that can pilot the solutions that are built,” said Joshua Stanley, Managing Partner at Cartwheel. “That’s a big advantage for participants, and it’s why our startup studio is excited to partner with Arkansas Children’s in this project.”

The digital health hackathon supports Arkansas Children’s mission to improve the health and well-being of children in Arkansas and beyond. “The Arkansas Children’s Innovation Center has taken a comprehensive approach to building a culture of innovation, and this collaborative hackathon is a tangible example of how we’re utilizing the strengths of entrepreneurial services organizations in the state to help us meet our innovation goals,” said Barry Brady, Chief Operating Officer of Arkansas Children’s Research Institute.

Applications for participation are now open. Interested parties can apply either as an individual or as part of a team. The application deadline is midnight, March 11, 2022. Learn more at https://bit.ly/nwahackathon.

HealthTech Arkansas Cohort Companies In The News

2018 cohort company ExplORer Surgical was recently acquired by Global Healthcare Exchange, which marks the third successful exit of an HTA company in the past year and a half. Learn more here.

2018 cohort company Macro-Eyes partnered with IDA Foundation to increase supply chain efficiency using data insights generated by the Macro-Eyes software. The objective is to optimize the shipping and routing of a broader range of essential health commodities to low- and middle-income countries. Learn more here.

2019 cohort company Health Note has expanded its team to include a Senior Vice President of Sales. Jamey Christensen, one of the foremost sales leaders in the HCIT space, joined the company in this position. Learn more here.

2020 cohort company nView Medical received FDA approval for their surgical navigation option (announcement here), as well as announced a partnership with Orthofix (NASDAQ: OFIX) to co-develop and market products together (announcement here).

2021 cohort company SoniVie announced that it has been granted Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) for the TIVUS System for renal artery denervation for the treatment of resistant hypertension. Learn more here.

MedTech Innovator Shares Six Trends Shaping The Future of MedTech

Over the past four years, one of our strongest collaborators at HealthTech Arkansas has been MedTech Innovator (“MTI”) based in Los Angeles, which bills itself as the largest accelerator of medical devices in the world. About half of all HealthTech Arkansas cohort companies over the past four years have been MTI graduates, so MTI is obviously a great referral source for us.

Recently, MTI’s founder and CEO, Paul Grand, co-wrote an article that highlights six trends that could shape the future of medtech. It’s a fascinating article backed by data gleaned by MTI from their 10 years of operations and their applicant pool of over 1,000 companies annually. These trends cover startup funding, areas of innovation, and the increasing emphasis on diversity, equity and inclusion in medtech innovation. You can see the full article here.

MedTech Innovator is currently accepting applications for its 2022 accelerator programs, and $1M in non-dilutive funding will be awarded in 2022, along with corporate mentorship and many other benefits. As a partner to MTI, HealthTech Arkansas' newsletter readers can get an extended deadline of February 15 and a priority review by clicking here.