Krista Martin from Novy on Building a Healthcare Venture Studio (and Fixing ER Scheduling)

On this episode of the Iowa Tech Podcast, host Kaylee sits down with Krista Martin, Partner at Novy, a healthcare-focused venture studio building software companies from the ground up. Krista shares her path from Iowa-born product leader to venture studio operator, influenced by her time in Indianapolis and exposure to High Alpha's model. She breaks down Novy's six-stage approach—ideation, validation, creation, and growth at its core—and how the team co-founds with physicians and industry experts to move ideas from back-of-napkin to market. Novy runs a highly selective funnel (their first round took 50 ideas down to zero, the next 25 down to one), and every applicant gets value: a 90-minute working session to produce a product-market fit narrative that doubles as a practical business plan. The studio invests up to $1M in each portfolio company, tailors financing strategies case-by-case, and stays hands-on with operating support. 💡 Find this show on your favorite player: https://iowapodcast.com/novy-venture-healthcare 🗞️ Be first to get new interviews: https://iowapodcast.com/subscribe/ Krista also lifts the curtain on Novy's first portfolio company: an AI-enabled emergency medicine scheduling platform born from a University of Iowa physician's insight into the complexity and strain of 24/7 shift coverage across multiple hospitals. With Krista serving as CEO during creation, the team continues deep customer discovery and pilots while preparing for go-to-market. They discuss why healthcare innovation matters—professionally and personally—and how the studio model can accelerate founders who might otherwise stay on the sidelines. Want to get involved? Novy is expanding its subject matter expert network, seeking emergency medicine contacts for pilots and presales, and welcoming healthcare software ideas via their open application. Connect with Krista on LinkedIn or visit Novy's site to learn more.  Chapters: 00:00 Introduction and Guest Welcome  01:41 Krista Martin's Background and Career Journey 03:51 Role and Evolution at Novy 04:34 Novy's Venture Studio Model 06:09 First Business Creation and Growth 06:41 Ideation and Selection Process 08:16 Healthcare Focus and Challenges 09:10 Operational Involvement and Team Dynamics 10:53 Why Choose a Venture Studio? 13:50 Future Plans for Novy