ASBTDC Client Wins ARK Challenge

November 14th, 2014 by Gwen Green

ARK Challenge winner Spencer JonesSpencer Jones, a registered nurse and founder of Jones Innovative Medical Solutions, won the $150,000 grand prize in the first Central Arkansas ARK Challenge for technology startups.

Patients and hospitals both stand to benefit from a device Jones invented and plans to bring to market. The investment prize will help Jones develop his patent-pending product, the blood draw system known as the Bifurcated Venous Access Device.

On the path to commercialization, Jones has worked closely with Arkansas Small Business and Technology Development Center’s Rudy Ortiz, an ARK Challenge mentor.

“Spencer has a great product that solves a real-world problem,” Ortiz said.

Ortiz, a business consultant at the ASBTDC Lead Center at the University of Arkansas at Little Rock, assisted the new entrepreneur with intellectual property protection, revenue modeling, profit retention structuring, and general small business development. Jones called Ortiz his “most active advisor” and said he was “such an advocate for me as a young entrepreneur as well as the CEO of the company.”

Jones and other participants in the three-month ARK Challenge business accelerator program made pitches to a panel of judges Nov. 12 on Demo Day at the Clinton Presidential Center.

The ARK Challenge began in Northwest Arkansas and is a Winrock International initiative.


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