Olive on Aug. 26 launched Olive Ventures, an in-house studio seeking to create companies and products for the healthcare industry.
The healthcare automation company envisions that Olive Ventures will give early-stage startups the opportunity to significantly reduce the timeline from initial build to revenue generation. When a startup becomes ready for spin out, Olive Ventures will help the startup secure broader investment opportunities.
"We're bridging the 'valley of death' in the healthcare startup landscape," Olive CEO Sean Lane said in a news release. "I've seen far too many great ideas be shot down without ever completing a pilot project. We're charting a new path for digital health innovators by killing the traditional pilot and rewriting the entire process to be better, smarter and faster."
Violet and Rotera are among the first two companies being built by the ventures studio. Violet seeks to assist patients with large medical bills, and Rotera is an artificial intelligence consulting and custom development company for health systems, payers and healthcare vendors.