Innovation Anthology

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Program ID: Innovation Anthology #869
Program Date: 05/18/2017
Program Category: Alberta, Awards and Competitions, Entrepreneurship & Commercialization, Information Technology

TEC VenturePrize 2017: vrCAVE

The Fast Growth winners of the 2017 TEC VenturePrize are two brothers, Nathaniel and Alex Rossol.

After playing with virtual reality a little over a year ago, the brothers realized they could turn VR into a multiple player, socially immersive system.   

As Nathaniel explains, the two brothers saw the market potential in entertainment venues and formed a company called vrCAVE.

NATHANIEL ROSSOL:  We've already had interest from Europe, actually.  So because we're predominantly a software business, there's really no limit to where we can go.    We're looking 5 years down the road, if we just keep ramping up, there's nothing to stop us from being in the hundreds of millions of dollars.  It's an enormous market.  

According to Alex, entering the VenturePrize Business Plan Competition gave the young entrepreneurs the tools they  needed to succeed.

ALEX ROSSOL:   It allowed us to take our company from a project idea into an actual company.  Just in writing the business plan and all the mentorship we got from that was just an amazing experience.  It helped us key in on what makes a successful business, and how to make something scaleable.

The TEC VenturePrize gives vrCAVE $80,000 in cash and in-kind services to help expand their new business around the world.

Learn more at INNOVATION ANTHOLOGY.com 

I'M CHERYL CROUCHER

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