Newsmakers

2014 ARK Challenge Winner Spencer Jones Competing in Memphis Accelerator

Spencer Jones, founder of Jones Innovative Medical Solutions and AMP contributor, has completed week one of the 12-week accelerator, ZeroTo510.

Jones competed in the 2014 Ark Challenge, where he developed the bifurcated venous access device, or BVAD, a painless, blood-drawing device for medical patients. In November, Jones won the Ark Challenge investment round of $150,000.

On May 11, Jones began the Memphis-based accelerator, ZeroTo510, with his new product, Site Saver. Screen Shot 2015-05-15 at 9.38.04 AM

“The Site Saver is a patented two-piece break-away valve that creates a sealed liquid connection between IV tubing and the patient’s IV site while they’re in the hospital. As a Registered Nurse, I saw a recurring problem of patients pulling their IV sites, PICC lines and central lines out,” Jones said, “The Site Saver device breaks free at our desired break point, one piece staying attached to the IV site, and one piece staying attached to the IV tubing. Both ends automatically seal to stop any blood or fluid loss.” The devise is inexpensive and simple, Jones said.

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Figure representing breakaway valve for an IV

ZeroTo510 is a medical device accelerator that “leverages key regional strengths in biomedical research and medical device manufacturing to create a unique program,” according its website.

Each participating company in ZeroTo510 receives $50,000 in return for an equity stake in the company. During the first 90-day phase, entrepreneurs participate in mentorship sessions and hands-on exercises. At the end of Phase I, entrepreneurs present their businesses on Demo Day, where investors choose three business to advance to Phase II.

ZT5_Full_White_smThe advancing teams receive another investment of $100,000 in exchange for additional equity in their companies. During Phase II, entrepreneurs further develop their prototypes and work to meet FDA requirements.

In his latest blog post, Jones reflects on ZeroTo510 and the resources Arkansas offers entrepreneurs:

“The crazy thing is its free to apply to these [accelerators], and they are ALL OVER THE PLACE! There are two just in Arkansas alone! And the same type of organizations that are helping entrepreneurs in Tennessee exist in Arkansas too! Whether its Innovate Arkansas, the Innovation Hub, or the Venture Center, they are literally all here to support YOU, the free thinking aspiring entrepreneur that you are.”

Jones will be documenting his journey through ZeroTo510 on AMP’s website and on his personal blog.

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