When Felicity Smoak learned that Curtis Holt had been doing freelance coding in his spare time, she asked him to go into business with her, which he agreed to. They initially had difficulty coming up with a name and what kind of tech to develop for the company (at one point they thought about going into the "Smart Home" business - building home and kitchen appliances that connect to your smartphone) but Felicity got an idea from Alena; to mass-produce the implantable bio-stimulant in Felicity's spine to help other people with nerve damage and paralysis. She also suggested to name the company "Helix Dynamics" after Felicity expressed a desire to use the name Helix for something good (since the name had previously been used as the name of a secret hacktivist group founded by the criminal, Cayden James).
When Felicity decided on the company name without consulting Curtis, this caused some tension between the two. This tension was further increased when Felicity used half a million dollars worth of investment money to bail her then-boyfriend Oliver Queen out of jail. However, the two soon made up and continued working together.
After Curtis left Team Arrow, the company was put on hold for several weeks because of the rift between Team Arrow and New Team Arrow. Eventually, though, Felicity and Curtis were able to put their differences aside and continue working on the company.
The current status of the company is unknown. On May 17, 2018, Oliver was arrested and sent to a maximum security prison. It’s possible that Felicity and her step-son, William Clayton, were sent away from Star City into an A.R.G.U.S. safehouse as this is what Oliver and Felicity had agreed to if Oliver went to prison, meaning that the company is probably on hold once again until Felicity returns to Star City.
It is possible that the Smoak Technologies was in the reality the Helix Dynamics, but renamed.