In this video we explore how you can start a startup in the growing Virtual Reality industry. Get your FREE Startup Ideas course (click on “Preview” in the curriculum):
Welcome to our Startup Trends series where we explore the growing startup trends to give you an overview and plenty of ideas for your own startup.
This one is about Virtual Reality.
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Music: Danger Storm Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0 License
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hi everyone i'm pavel from startup Express in this video we're talking about virtual reality and the different kinds of startups that entrepreneurs create around it so as you know this trend took off thanks to oculus and Facebook because when they bought it they marketed the whole thing and made the idea of a virtual reality headset very popular but it's not very new actually this kind of stuff existed before but it was of bad quality obviously we can say for sure that today's best headsets have amazing quality and the virtual reality feels very real but just as with every new trend nobody knows if it will succeed or fail at this point in time virtual reality has two main problems first of all the price you need a lot of computing power to generate that much graphics in 360 degrees and that's why most of the headsets required to be connected to powerful pcs but prices will start to drop if people buy more of them and probably Google daydream platform will also have a positive effect here by allowing to have virtual reality of good quality on powerful smartphones and the second problem is well ya know there this is a real and very serious problem of course not everyone who's using VR has know their problems but a lot of people do myself included I can maybe stay like for five minutes with a headset and then I have to take it off for awhile for now there are no clear ways around it some people manage to reduce nausea by including a fake nose inside the virtual reality headset so it feels just like your real nose when you don't have a headset yeah do you notice it now your own nose yeah it's right there in front of your eyes all the time but your brain just cancels it but now you see it because you're paying attention well having fake nose inside VR helps to reduce nausea but it doesn't take it away completely anyway most of the people who will use VR goggles for the first time and experience some sort of motion sickness probably these people will not want to use VR products anymore in the future and so it's a big obstacle for adoption and it's even a bigger problem than what you think because with this kind of entertainment devices which compete for people's eyeballs right engagement is a crucial metric meaning how much time you spend using them if it's not a lot it's serious problem anyway despite all of this VR industry is growing at full speed with Google Samsung Playstation and HTC all releasing VR headsets and accessories so if you're excited about this trend and believe that it will become big and successful then go ahead and create the startup around it let's see what kind of stuff entrepreneurs are coming up with so the most obvious kind of startups around VR are those that create actual content right the possibilities here are just endless there are so many things you can create inside virtual reality the obvious applications are of course video games and videos that's because video games become amazingly immersive inside VR just like 360 videos journalism can get to a whole new level with immersive reports just as if you were there architects can use iris VR and world ways to create projects and then see how they will look in 3d it's better to almost sort of walk inside your future building than looking at it from a PC screen that's why I'm not going to focus on all these applications here because well there's just too many all kind of information which goes two days through your smartphone PC console or TV can be transport to a virtual reality format instead let's just mention some other interesting fields for example healthcare and the startup silos and deep stream VR that's one very promising area for virtual reality especially mental care patients can treat their phobias by being gradually exposed to virtual things or environments that trigger this phobias in real life they can also enjoy relaxation sessions in simulated environments to help reduce stress then another potentially amazing use of VR is live broadcasting instead of watching a tennis game or a live concert from a fixed camera angle on your TV well you can watch it inside your virtual reality headset this is what the start of next VR is doing and they recently raised a series B round of 18 million dollars the problem is of course the internet feed good quality in VR is 4k quality which already requires a lot of bandwidth and since its 360 degrees it's like streaming several 4k videos at the same time for this to work you need to have a minimum speed of 25 megabits per second and most of the people in the world don't have this kind of speed in developed countries but actually that's a problem that is also addressed by startups since it takes ages to upgrade Internet infrastructure some engineering teams are working on compression techniques to reduce the sizes of these videos while keeping good quality so probably the requirement for this speed will be reduced soon there's also startup called sliver TV which is doing VR streaming for eSports right you can watch Counter Strike global Offensive or league of legend tournaments in virtual reality they recently raised 6.2 million dollars in funding so this is where the major trends of VR and eSports intersect so as you can see that's already a lot of amazing stuff but now let's get to a less technical level and see other startups taking advantage of the VR trend one of the best websites to get news about VR and other interesting things is upload VR they started off as a conference in San Francisco numbers of attendees grew quickly and one thing led to another they ended up creating that website which raised 1.2 million dollars in seed funding so they established themselves as the leading source of information about the VR world of course there are other famous websites like Rho 2 VR and VR scout they all monetize their content through advertising which is the common way to do it there's also a company called Jon PR and they have a website where you can find amazing content for VR and this content is highly curated they raised a lot of money since 2013 but they actually do hardware and software products to create VR content that they later sell to companies creating VR content eventually their goal is to become the Netflix of virtual reality and of course there are several other websites which try out and list VR content like we are VR and honey we are finally there's a startup called teleport me which allows you to capture 360 pictures with your phone share them and discover what other people captured so you can look at the world photos in 360 degrees which is really cool but now let's move to virtual reality startups and businesses in the real world as I said we are just as any entertainment industry doesn't stop at the content itself there's so much more you can do with it for example there's this out-of-body experience in California you put a virtual reality headset which shows you the view of yourself from a steady camera which must be really awkward you're basically playing life in third-person mode but of course they do it much funnier with specific challenges and other stuff all what they needed to start were VR headsets and cameras and there you go a new type of font venue and they also put this kid with the VR headset on a hoverboard like really what the are they doing they wanna kill it or something isn't this bad parenting or no actually this is amazing parenting yeah because some adults try the two like this guy but I think that you can push this top a bit further let's say put someone on a hoverboard stick a VR headset on them and show them a video of themselves from above filmed from a drone and let them pilot that drone I'm pretty sure we can find some funny interesting challenges to do with it right like crossing a street and Vietnam or something speaking of Asia in China there are now more and more VR cafes it's like the internet cafe but for VR games it makes a lot of sense to have such cafes because having a VR setup at home is very expensive you must count to thousand dollars or more to have it in your own living room so in countries where people cannot afford this kind of stuff they can still enjoy by going to dedicated places actually the Chinese partnered with an American company called spaces to create a full theme park around virtual reality by the way did you hear about that actual roller coaster where you put the VR headset on in Six Flags Georgia yeah this I'm having nausea just by looking at the video ok the last example of fear in the real world is very calm stuff no puking it's all the conference's related to VR like we are now vision summit and others they attract people they pay basically a regular real-world stuff finally the last category we're going to talk about here is all the hardware around dr clearly virtual reality is more fun with controllers so you can do stuff with your hands inside virtual worlds that's what leap motion are doing they raise the thirty million dollar series be around to create gesture based controllers for virtual reality which is a really really cool stuff and if you want to push the experience even further you have virtuix Omni for that it allows you to actually physically move your body to move it inside virtual reality they started on Kickstarter and later raised all in all eight million dollars so you can buy that stuff put your VR headset on and see you in another life brother you can also experience flying in real war with virtual reality or sorta there are headsets that you can use while flying drones so it feels like you're really inside there one of the main drone manufacturers DJI which is Chinese by the way recently released their DJI goggles which go with their drones and they have amazing quality so you can fully immerse yourself in the flight then there is the startup iPhones which makes it possible to track your eye movements inside virtual reality goggles this technology is extremely important because it allows us to have yet another interface for communication between humans and machines today our computers are powerful and our brains are powerful as well when we combine both it makes us smarter but the biggest problem is interface or the bandwidth if you want to exchange information between both for example when you think about performing an action with a software on your PC well you need to drag your hand and click to do it right now you can touch the screen and it makes the process a bit faster but still it's relatively slow and it takes time to make the computer understand what we want to do then you can boys control which is something becoming more and more accurate these days there are also amazing innovative ideas like meal which understand your arm movements so I tracking will just add to all this interfaces and hopefully we can increase the speed of communication between humans and machines and when mind-reading technology hits well we won't need any of this at all anymore but it's not quite there yet and finally there's this the whole middle virtual reality headset actually it's just a smartphone holder with lenses yeah exactly like the $10 Google cardboard but with a strap there's a strap changes everything except this piece of plastic costs 70 euro they simply release it before the others with that VR promise and many people fell for it like me yeah I know it's stupid so yeah guys that was for virtual reality the next frontier as they call it look it might succeed or it might fail like the 3d TV remember but there's a huge amount of venture capital going into virtual reality right now from all around the world and clearly the possibilities the things that you can do with it are just amazing so let's hope that this will continue it's not too late to create your own business based on virtual reality because this industry is only starting to grow by the way if you want to know how to start your own startup or how to join and grow in existence just take our free online courses at startup Express you'll see they're amazing and they will give you all the necessary knowledge and skills that you need to succeed maybe notice that in this video I didn't talk about all the goggles which are like glasses with a screen inside well that's because this is augmented reality and this is completely different from virtual reality augmented reality is the safest battle for because probably this stuff is going to be revolutionary and long-term so you guessed it my next video is going to be about augmented reality and we're going to talk about some mind-blowing stuff so see you soon