Existing Market
The biggest thing that is next for my current market is developing the technology behind it. This will be the hardest part of the entire venture I believe. Pretty much everyone I talked to agreed with me that the thing I needed to focus on was the underlying technology. That will really make or break the whole business. If it is good enough to provide an immersive experience it will be great. If it is unrealistic, grainy, and jerky people will not pay for it. They also all said why limit yourself to this travel VR or AR. If you develop the technology that is good enough companies will be all over you to use it for their purposes.
New Market
The applications for VR and AR are endless. With the technology developed for my original concept I could reach many other markets. One market I thought of is as a training tool. Think about a medical school student for example. They could use VR to practice or learn more about surgery for example. This creates value because it may allow people to train to do tasks where actually doing those tasks over and over again might be expensive or unrealistic. The first person I interviewed was my aunt who is a doctor. She said she could definitely see an application for this especially among starting med school students. The next person I talked to is my roommates dad who is a former air traffic controller. He said it would be a great training tool for pilots.
Wow, I think it is a great idea to incorporate using your product for medical students. I know that would be super successful and a great aid in helping medical students learn. It seems like there is an endless amount of opportunities with this product. Are you set on primarily making it for people to “virtually” travel or would you like to explore other areas as well now that you see how helpful they can be to help people learn?
ReplyDeleteI do agree with focusing on the technology and making it state of the art and companies would pay a significant amount of money for it. I think using your opportunity as a training tool might be an extremely successful idea. If it is extremely reliable and is like the real situation medical schools may purchase it to give to students and make it more realistic for the students.
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