I'll always jump at the chance to have a company on my podcast that is saving lives through technology and that's exactly what Jake and his incredible team at Owlet are doing. Over the past 3+ years they have developed the hardware and software that could save tens of thousands of infant lives. More than 3,500 babies die every year while sleeping but perhaps if the parents had been alerted in time many of those deaths could have been prevented. Owlet has created a soft sock that slips over the infants foot and measures their heart rate and oxygen levels...then alerts the parents in case of emergency.
The company was started by some college friends out of BYU, they raised some capital, started building the prototypes, got accepted into Techstars NYC, moved their families across the country from Utah, continued to build and iterate, raised more capital and now they are absolutely crushing it. Owlet will do $20 million in revenue in 2016 with even bigger revenue expectations for 2017.
In this interview I spoke with Jake about the early days of the company, where the idea came from, how hard it is to do hardware and software, the biggest challenges for the company, how they forced themselves to learn everything on the fly, the value of having the right investors, what raising capital has allowed them to do, what the tech startup scene is like in Utah aka Silicon Slopes, how the company was able to secure a $1.5 million grant from National Institute of Health, what's next for the company and so much more.
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Startup Sense is sponsored by the Lupton Group. We help clients of all sizes, budgets and industries with their business strategy, web/mobile/software design and development as well as branding and marketing. We put our clients in the best position to grow revenues and be more profitable.
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