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VRJAM

A real-time, content solution for live virtual events.

United Kingdom
Market: Information and media, Culture, art, Education, training, Virtual and Augmented Reality, Mobile applications
Stage of the project: Operating business

Date of last change: 17.04.2020
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Idea

VRJAM is a real-time, content platform for live virtual events.

VRJAM empowers consumers to attend virtual events no matter where they are in the real world using the latest VR technology and supports event producers to transform their business using a sustainable approach to reaching global audiences.

VRJAM, will forever change the way that content creators reach audiences online.

(Due to the confidential nature of our technology we cannot publish our main product video on Youtube, please find a link to it here: https://bit.ly/2VdEbzJ)

Current Status

Alpha application, generating revenue, product available as an bespoke enterprise solution to b2b clients.

Market

VRJAM is a b2b2c solution.

Our primary b2b market consists of event producers who are in need of a solution to produce real time virtual events. This is extremely relevant in the formation of a solution to the Covid 19 pandemic.

We are currently engaged in deploying a virtual re-recreation of the larges =t music festival in Europe, Glastonbury Festival, which has been cancelled due to the Covid19 pandemic.

Our primary b2c market consist of anyone who wants to have a life like, social, computer animated experience of attending an event without leaving their home, again a highly relevant market or audience in reference to the formation of a solution to the problem(s) created by Covid19.

Problem or Opportunity

The Covid19 pandemic has resulted in the decimation of the global entertainment events industry. Thousands of event producers, performers and venues face financial ruin due to the impact of the virus. Concurrently, consumers are falling victim to the damaging psychological effects of social deprivation and extreme loneliness due to weeks of confinement and forced isolation.

Solution (product or service)

VRJAM provides event producers, performers, music artists and venues with a solution to survive the Covid 19 pandemic by empowering them to reach audiences and generate revenue by presenting virtual events that offer consumers an extremely realistic, high quality experience of attending a real life event. VRJAM enables producers and artists to generate a range of novel revenue streams from virtual events empowering them to survive the financial ruination that many are facing in the events industry.

VRJAM provides consumers with a deeply compelling, high quality experience of attending a real event using VR technology and empowers them to have a captivating, social experience of sharing a live event with friends and family despite the fact they are separated by vast distances. This has a trans-formative effect on the sense of social engagement experienced by people who are isolated and alone due to the covid19 epidemic.

Competitors

The Wave XR
Red Pill VR
Facebook Horizons
Sensorium

Advantages or differentiators

Our core tech has been to target mobile device users and the high performance capability of our application on mobile devices is its core USP

Finance

All funding to date has been boot strapped.

Since the outbreak of Covid19 we have $100k committed from Warner Music by way of a partnership proposal which is currently being finalised.

Business model

b2b2c

Money will be spent on

Software / product development
Expansion of sales and technical team
Marketing

Offer for investor

$2,000,000 for 25% equity

Team or Management

Risks

VR device distribution is low and adoption of VR hardware devices continues to fall below market and industry expectations

Incubation/Acceleration programs accomplishment

Google campus accelerator - VRAJM is a Google Campus member

Won the competition and other awards

Member, Google Campus London - https://www.campus.co/london/
Winner, Createch Top 50 - https://www.gov.uk/government/news/uks-creative-industries-set-to-grasp-export-opportunities-as-top-50-createch-ones-to-watch-list-published
Winner, Vodafone 5G Dig 100 - https://gigalife.vodafone.com/wp-content/uploads/2019/10/5G-DIG-Top-100-Finished-.pdf
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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