At ExploreVR, we are striving to make Virtual Reality, a reality, in BC schools. Come explore and learn more about who we are, and how we can help bring VR to the 21st Century classroom.
A3 Venture Pitch: ExploreVR
12 responses to “A3 Venture Pitch: ExploreVR”
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Liana has quite the winning proposal on her hands here. The presentation/pitch itself is quite engaging, but the niche targeting of this particular product also has legs. Tailoring offerings to the BC curriculum is a stroke of genius – and if she can offer this as a cost-effective alternative to a class trip, then it can be reframed as a cost savings. I think the biggest costs that ExploreVR will have is a constant need to create their materials and upgrade/update hardware as newer technology emerges. The only problem that comes to mind is how immersive can this experience be? When we consider game companies like Ubisoft presenting Discovery Tours in their various Assassin’s Creed video games, you are presented with a wealth of information and incredibly high quality graphics. Can ExploreVR match or come close by comparison? I think the initial investment of $75,000 is one tenth of what they need at least.
Thanks for your feedback Trevor. The one area I definitely struggled with in this venture was the initial investment ask as business is an unfamiliar territory for me. I appreciate your insight in that aspect and your encouraging words.
REVIEW: a very compelling idea and a very well-done presentation. It is thorough and convincing. It offers a good range of services and the target market is large, though it could be larger to include the corporate world for training purposes, for example. As an EVA, I would love to know the projected financials (especially revenues) and how long till the investor receives ROI before recommending funding.
REVIEW: Hi Liana, I think you have an incredible idea! I know many educators want to take a step into Virtual Reality but know that the costs are simply too high. By removing that barrier for educators and providing services through an in-class field trip model, I really think a lot of educators would jump at this idea. VR/AR has so much to offer in the world of education and I completely agree with you that it will be the future of education. Also, by focusing solely on BC classrooms at the start of your venture, you can selectively find VR applications that can fit the curriculum well and have ample room to grow. My only critique is that I think you could have asked for more from your investors based on the costs you may need to get started. I would value your venture at more than $500,000 as it has a lot working in its favour. As you said, the franchise mode of HTHT is proven and is very applicable to your venture so that helps remove a lot of the risk. I also think that your marketing would eventually take care of itself through word of mouth, as it is a new idea that schools would be willing to pay for. Trevor brought up a good point though that costs could get high as you would need to keep up with the industry during its infancy phase. Overall, I would invest in your venture!
Thanks for your review and insights on my venture, Joseph. I struggled with the valuation of my company as that territory is quite foreign to me. I think we can agree that VR/AR is the future of EdTech and it won’t be long before a company such as this exists – perhaps we could start it up in BC one day! 😉
REVIEW: I LOVE the potential of VR for engagement and access, and experiential and imaginative learning. I have experienced (mostly financial) barriers to use in schools and your solution is awesome. The link to curricular competencies is essential for those who still aren’t making those connections and need grounding to see VR as more than more screen time. Overall there is tons of meaningful pedagogical justification on your site. As a bonus your site is very clean and aesthetically pleasing, which is important to an entrepreneur – through an EVA mindset, seeing a professional final product for marketing builds my confidence that the product will be the same. Great market analysis, and solid market info in general. This is a unique and creative solution to a real current problem. I also love that pricing is reasonable enough that teachers could easily have ExploreVR come in with field trip budget. It might be interesting to extend the venture to have a cheaper option with a lending library with headsets just lent out to use with a database of teaching resources, as that lower price point might incline teachers to become repeat customers once someone has come in once to show them the basics. As an EVA I would consider your venture worth investing in. Thank you!
Hi Emily, thanks for your review and positive feedback. I really like your idea of extending the venture to provide another option for schools through a lending library which could be made available once schools engaged in one of our in-school training offers. Nice addition!
REVIEW:
Hi Liana, Well done on your venture pitch- it was succinct, well researched and professional. I think there is huge potential for ExploreVR in education. I appreciate the thoughtful approach to your roll out, focusing on the BC area with future plans to expand your reach. The greatest selling point for me was the affordability factor and the trained instructors that came to the classroom, a model similar to Scientist in School (without the technology portion). The pricing model was very reasonable and manageable with 1 instructor and a 1:3 ratio, what might the other students be exploring when they do not have a headset? I would definitely invest in this venture!
Hey Liana,
What an amazing pitch! I found your website insightful and really user friendly. I also found your 1 to 3 technology use practical; most people would try for 1 to 1, but, in my head, it is such a huge investment and this way allows for smaller group work while allowing the other students to work on some class-based curriculum too.
Well done!
FEEDBACK: ExploreVR is very interesting, well-described, and attractive. It certainly generates a desire to use it, and the advantages in education are incredible. My concerns are related to the cost and time of the available technology in terms of applicability. Probably, initiatives like yours can make the use of VR in Education more accessible and ubiquitous.
Very Nice job!
Review/Feedback: Hi Liana, Explore VR is an incredibly enticing venture! Beautiful and engaging, the stats and the benefits really shine through this pitch. You have a great market and competitive analysis and you share the competitive advantage of Explore VR well and thoroughly. Something I would love to see in the competitive analysis is your pricing model and financial goals against your competitors. Overall, your pitch was incredibly thoughtful and thorough, Well done!
FEEDBACK: Hi Liana, thanks so much for your venture pitch. The VR space is of great interest for me and your venture did an excellent job of explaining the market as well as positioning your business as the next leader in the educational space. I can see VR becoming a staple in future classrooms. Your franchise approach is very clever, and seems like a smart way to keep overhead costs low while expanding quickly. Overall, I think your venture has great potential!