Enterprise VR is an Industry Well Worth Keeping an eye on

One of the booming aspects of virtual reality comes in the form of enterprise training programs and tools. In fact, the number of enterprises tackling VR head-on is increasing at an accelerating pace. While consumers still consider VR as an entertainment platform, there is a lot more to this industry than effectively meets the eye as of right now.

Enterprise VR is Taking off Quickly

There is a very interesting industry to keep an eye on in the form of enterprise VR. While still a very complex venture, companies are getting better at improving their overall training programs, learning material, and so forth. Several opportunities have presented themselves in the past few months. VR meeting solutions, for example, are slowly taking the place of traditional video conferencing, which will undoubtedly yield some interesting results in the future.

Especially when looking at collaborative experiences, virtual reality will make a positive impact in the long run. To tackle this challenge head-on, companies need to put together an enterprise VR team. That is not necessarily easy, although it is not all that difficult either. Someone needs experience in 3D development, whereas another individual will need a business mindset and a third individual requires the proper coding skills. Putting all of this together can be done with ease, assuming one finds the right talent in the first place.

WeLens CEO and Founder James Levy offers some valuable advice:

“VR startup founders who want to control their own destiny should limit burn rate to match current revenue. This may require your team to hire more slowly and find ways to fund the company with a combination of turnkey hardware and software products and services. While this may slow growth, it will put your venture in a position to survive uncertain times. Moreover, your team will basically be paid to do customer development, which will enable you to take your time in reaching product-market fit and identifying opportunities that competitors may overlook, in their haste to reach hyper growth.”

At the same time, venturing into VR poses a lot of new challenges as well. Companies cannot advertise themselves as VR enterprises as of yet. Instead, focusing on the 3D aspect of things will usually work a lot better. This further confirms there is still a stigma when it comes to VR technology, although things have improved significantly in the past few years. VR Startups and enterprises need to look well beyond VR to position themselves on the market.

Header image courtesy of Shutterstock

By Mark Arguinbaev

Mark is a 28 year old internet entrepreneur. He is a bitcoin enthusiast and a technology addict. He loves writing and educating readers about the newest tech trends.