Innovate UK Awards £210k to Pioneers of Virtual and Augmented Reality
AR/VR entrepreneurs crowned in national IC tomorrow innovation contest
Winning solutions include virtual music concerts; an immersive retail environment; virtual reality-enabled rehabilitation programs and augmented reality safety visors for construction workers.
London, 28 October 2015 – Six budding SMEs have been awarded up to £35k each to solve commercial problems using virtual and augmented reality. Neurodigital Technologies, Reflex Arc, Soluis Group, Mbryonic, Arc Realities andFuture Visual were selected by a panel of judges at a recent competitive pitch event as winners of IC tomorrow’s Virtual and Augmented Reality Innovation contest.
As well as receiving funding from Innovate UK, each of the companies will work in partnership with leading industry and research bodies including Crossrail, John Lewis, Pearson plc, Columbia Records, Queen Mary University of London, Enteric HTC and Royal London Hospital, and King’s College London.
The winning entrepreneurs will retain 100 per cent of their IP.
Forecast to hit $150bn revenue by 2020, the AR/VR market is one of the most talked-about sectors in technology. With companies such as Facebook, Google and Samsung all investing in this area, the potential for it to radically change industries such as retail, education and healthcare has never been greater.
Matt Sansam, Programme Manager for IC tomorrow, said:
“VR and AR are two of the most eagerly anticipated technologies in the world at the moment. This contest looked for applications beyond gaming and the response from the UK’s entrepreneur community has been fantastic. Many of these winners are pioneers in their field, bringing together the physical, digital and virtual in completely new ways to tackle real world challenges.
“Innovate UK is committed to building relationships between the biggest industry players and talented entrepreneurs. We look forward to supporting these exciting businesses in their trial partnerships.”
IC tomorrow will launch its next contest, Intelligent Data Insights, on Monday 2nd November. A briefing event will take place in London on Tuesday 3rd November. The briefing event is open for registrations now: http://bit.ly/IDILon