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Virtual Story

Digital Library of cognitive literature

Georgia
Market: Education, training, Entertainment, Virtual and Augmented Reality, Mobile applications
Stage of the project: Prototype or product is ready

Date of last change: 24.07.2022
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Idea

Virtual story is a hybrid of books and computer games based on various literary masterpieces, which will make the reading process fun and interesting with audio-visual elements.

Current Status

At this stage, we have made the first prototype, Charles Perraults fairy tale Little Red Riding Hood together with the Bakur Sulakauri publishing house.
We made surveys and participated in several accelerators. We negotiated with Georgian educational and publishing companies about intergrading our app in their products.
For the next steps we will create a platform, validate MVP and make more products. While simultaneously preparing to go global, The global EdTech market size was valued at USD 85 Billion in 2021

Market

We are creating Edtech, therefore, our target market is Educational Institutes as well as online users. There’s more than 2000 public and around 250 private schools in Georgia, with more than 300,000 elementary class students, their parents are our main costumers.

Problem or Opportunity

The popularity of the Internet, social networks and video games has led to a loss of interest in cognitive and fiction, especially among the younger generations, which is significantly reflected in the decline in the level of general education.

Technological development is inevitable, but it doesn’t mean that the valuable knowledge should fade away.

Solution (product or service)

The solution is to create a fun, exciting, modern way of getting acquainted with technology-based cognitive literature.

Competitors

There is no such application on the market in Georgia yet.
The main competitors are similar types of games ‘Visual Novel’, although they have no educational purpose and are intended only for users of specific tastes and ages.

Advantages or differentiators

The unicity of Virtual Story is going to be our advantage, since our app has popular stories and characters, has educational purpose along with entertaining and is highly interactive.
Since our app is 2D, cost of it’s creation is much lower than any 3D minigame. With diversity of audio-visual effects it will be quite catchy and memorable.

Finance

The app will have freemium and subscription options. The average cost of each game will be around 3 to 7 us dollars. After the launch we plan to cover 10% of the market during the first year, which is around 285,000 $

Business model

The application is customized for PC as well as tablets and smartphones. Downloading will be free. Trial 1 week, the cost of each product inclusion will be assessed according to the size and quality of the work.

Money will be spent on

The funds will be used on building a platform, effective marketing and social media campaigns.

Offer for investor

We plan to collaborate with VR companies and create data base(library) of digital books.

Team or Management

Risks

Starting strong won't be easy, that's why high social media and marketing activity is required. Maintaining costumers and relevance.

Incubation/Acceleration programs accomplishment

Startup Factory
Spark accelerator
BOOST accelerator
Social impact
Carec University

Won the competition and other awards

Startup Factory
Carec University
Social impact Georgia(Finalist)
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video