Starting out in 2004, in the attic of a rented apartment in the Dublin suburb of Donnybrook, 3D4Medical created the largest library of stock medical images in the world. All of these 18,000 plus images were made entirely from renderings of 3D digital models and licensed through 51 distributors worldwide, including Getty and Corbis.
In 2009, 3D4Medical reinvented itself in the teeth of recession by using these same 3D models to develop medical training applications for the new iPhone App Store. Within a short time, 3D4Medical’s apps had hit the number one spot across most of the Apple App Stores around the world and as their success grew, 3D4medical began hiring the best developers it could find to push the boundaries of what could be done on new mobile devices.
3D4Medical concentrates on two main markets: academic applications and clinical applications. The company sales are global, but 3D4Medical’s concentration has historically been the US market.
What is your greatest business achievement to date?
Having been invited to demonstrate our new 3D technology on stage at the Apple Keynote event that was seen by over 40 million people last September.
What was your “back-to-the-wall” moment and how did you overcome it?
In 2009, three of my top managers left and started a company that sold similar images to 3D4Medical. I could not prove that they had taken our IP and I was devastated. I overcame it by really looking at what I was good at and redefined myself and the company as an innovator.
What moment/deal would you cite as the “game changer” or turning point for the company?
Apart from the shift to innovation, the advent of the iPad. Our technology is very visual, and with the large screen of the iPad, it really made an impact in our industry.
What were the best and the worst pieces of advice you received when starting out?
The best advice I got was from my mum, who told me that thoughts travel. If you have an idea or a concept, then that means the idea is out there and someone else is probably having the same idea at almost the same time.
The worst advice was listening to people who had no track record in being an entrepreneur. Free advice is worth as much as you paid for it.
To what extent does your business trade internationally and what are your plans?
By the very nature of the various app stores, we trade globally. However, we have been building a direct sales force in the US and the UK. We intend to expand our sales force into Asia in 2017.
Describe your growth funding path?
Last year we sold a minority stake in the company for $16.4 million, which has allowed us to rapidly scale-up and expand the infrastructure to support our new technology.
What is the hardest thing you have ever done in business?
Having to fire people.
What was your biggest business mistake?
Going to court in the US over something that could have been settled out of court. I naively felt that being in the right was enough, but that naivety cost us 18 months and many times more than what we could have settled for in the beginning. It was a mistake that almost cost me the business.
What is the most common mistake you see entrepreneurs make?
Thinking locally instead of globally.
What is the single most important piece of advice you would offer to a less experienced entrepreneur?
Make it happen. Don’t wait around.
