As a start-up medical product development company, Olive Medical has designed, developed and is beginning to market the medical industry’s first low-cost HD surgical camera system. The innovative camera is equivalent to the current market-leading products and will be sold for roughly half the cost, significantly lowering hospital costs for capital equipment. Through the implementation of proprietary video processing hardware and software, the camera uses low cost technology and outputs video that is equivalent to leading HD surgical cameras.
However, figuring out how to survive while the camera was being developed created a challenge. Olive Medical first visited the Salt Lake Small Business Development Center in August 2009. They became a resident of the Miller Business Resource Center business incubator shortly after. With the advice and assistance of several experienced SBDC consultants, Olive Medical has accomplished several major milestones in a very short time, including the completion of two rounds of funding totaling $1.5 million.
“I’m continually amazed at the excellent engineering team we’ve assembled at Olive,” said Josh Talbert, CEO of Olive Medical. “This low-cost HD camera system is unparalleled in its efficient design and exceptional performance. This is just the first of many innovative medical devices we’ll be unveiling in the near future.”
Talbert is looking forward to the future, and, with the help of the SBDC, is poised for great success.
The Utah SBDC network is comprised of 11 regional centers hosted by Utah colleges and universities. The centers serve entrepreneurs and small businesses across the state. The centers are funded in part through a cooperative agreement with the U.S. Small Business Administration.