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