Getting Started in Augmented and Virtual Reality Businesses

Augmented reality and virtual reality are two of the most talked-about topics in the world of technology today. Many people think they are the same thing, and hence knowing the difference between the two can be crucial.

Augmented reality can be defined as an enhanced version of reality created by using technology to add digital information on an image of something. It is used in apps for smartphones and tablets. AR apps use your phone’s camera to show you a view of the real world in front of you, then put a layer of information, including text and/or images, on top of that view. An example that will make it easy to understand the concept is the popular game Pokemon Go.

Virtual Reality is defined as the use of computer technology to create a simulated environment. The reality you are viewing when you use VR is an entirely different one in front of you.

Virtual reality may be artificial, such as an animated scene, or an actual place that has been photographed and included in a virtual reality app. With virtual reality, you can move around and look in every direction — up, down, sideways and behind you, as if you were physically present there.

You can view virtual reality through a special VR viewer, such as the Oculus Rift, while other viewers use your phone running apps like Google Cardboard or Daydream View.

“There are multiple AR/VR start-ups thriving in 2019, despite sentiment to the contrary. Surmounting the early stage challenges that every new tech platform faces, AR/VR startups are finding innovative ways to survive and thrive,” Tech news website Venture beat said.

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Holographic software startup VNTANA is successfully converting demand for experiential marketing into long term revenue streams. “Many of our clients start with one-offs to engage their customers via holograms. We track who is using it, what products/features they engage with, gender, age, sentiment, and all the data is stored on our cloud platform, which syncs with the client’s CRM. The whole system ties back to our clients’ sales,” said CEO Ashley Crowder. The tracking feature has been critical in converting one-off engagements into long term relationships. “One of our clients, Lexus, started with a two-week trial that has now been running for three years. Our solution has helped them more than double their qualified leads compared to the traditional car showroom experience.”

The seven important habits of highly effective AR/VR start-ups are that they should be able to solve a critical pain point, make money from the very beginning, have a firm grip of a VC’s perspective of the company, make powerful friends, be the best of what you love, be prepared for exponential success and be ready to combine what makes your company special with being practical, according to an article in Venture Beat.

Being a successful AR/VR start-up is much like any other start-up, but the world of AR/VR is now growing. Many companies invest heavily in developing augmented reality and virtual reality solutions after witnessing their rising importance and popularity.

 

Photo: Maurizio Pesce / Flickr