A new startup from a group of young UC students is geared toward making high-definition video a standard internet offering, reports The Globe & Mail.

Hotswap was founded by three graduate students at the University of California and has recently received backing from big tech players such as Apple co-founder Steve Wozniak.

The firm says its video compression technology can make low-definition Internet video appear at be high-definition. That could be a big bonus for users of YouTube and others, who often upload grainy, low-quality video to the sites.

Hotswap's technology is already being used by AutoNation to enhance the video offerings on its car-selling site. The founders first plan to focus on the used-car industry and its online offerings before branching out into other areas.