Investments in Augmented Reality and Virtual Reality reached $658M in equity funding across 126 deals in 2015 (source: CBinsights). With that in mind, the Open Innovation Club hosted a TechMeeting on AR / VR where Renault, Flextronics and Dassault System’s shared their views on this topic and startups showcased their innovative solutions.
For Pierre Delaigue, Project Manager at Renault Innovation Silicon Valley, heads-up displays are the Holy Grail for car manufacturers. Skully might be getting there sooner than later with the first AR motorcycle helmet. With its camera, the helmet eliminates blind spots and provides all the indications riders need to drive safely, including rear-view vision.
Gaming is the most poised for massive adoption of AR and VR but the potential is just as huge in healthcare, retail and manufacturing. VR and AR in the retail industry can solve major inventory stock and space issues and also offer a new customer experience. For instance, Audi saw 70 % increase in revenue after using the new room-scale VR showroom experience. AtheerAiR, produces interactive 3D smart glasses offering robust applications in the industry, insurance, healthcare and construction spaces. The glasses’ innovative collaboration features will revolutionize the way industrial or healthcare professionals work.
With the rise of VR devices and VR content, Metta VR and Retinad foresee new needs for content producers and videos consumers. While Metta VR helps you discover new content, Retinad VR has built an analytics platform to track user behavior and help creators improve their solutions.
First responders and the police department have even found applications for AR/VR. The startup Bounceimaging has developed a throwable round-shaped camera that stitches 360 degree videos with real-time omnidirectional images.
As illustrated by the variety of startups that pitched at this event, VR and AR have huge potential to disrupt every type of business imaginable. For this reason, corporations are also putting a lot of effort into understanding how they can integrate AR/VR into their current products and services. It will be interesting to see how startups and large corporations collaborate in the future to make AR/VR mainstream.
This event was organized in partnership with Greenlight VR, a business intelligence company focused on the global virtual reality economy. Co-written with Road to VR, Greenlight VR has recently published a new 2016 Industry Report.