Story image

New Kiwi VR/AR Association launched to attract billion-dollar investment

17 Oct 2016

New Zealand virtual reality and augmented reality industry may now get a much-needed boost, as a new association has been launched with the aim of attracting billions of dollars worth of investment in the area.

Inaugral Chair Matt Coleman launched the New Zealand Virtual Reality and Augmented Reality Association (NZVR/AR Association) today, how the charter will help those in the industry collaborate, upskill, connect to others across the globe and attract investment for their initiatives.

Coleman is also the founder of Magnify, a startup and tenant in Auckland's VR/AR Garage. He believes the VR and AR market across the Asia Pacific is set for a huge boom and may be worth $40 billion in the next five years alone.

“Within the next five years virtual and augmented reality will change the way people live, work and play. Apart from the obvious entertainment applications, VR/AR will impact every industry including transport, healthcare, military, banking, real estate, human resources, education, manufacturing and transport. The list goes on," he says.

As chair of the new Association, Coleman will help run operations with the help of Kevin Sheehy from Genulin Interactive Healthcare. So far Association members include VR/AR company Sphvre, Converse AI TAG the Agency, Reality Virtual, Staples Productions, Stargate Interactive and more.

“New Zealand has the entrepreneurs and highly skilled digital specialists who can deliver the VR/AR experience to all these industries. Our association will accelerate investment and job growth in the country’s VR/AR industry by connecting all the players together," Coleman says.

Coleman believes that Pokemon Go has demonstrated what augmented reality is, however there's much more to it than just gaming, with many local initiatives going on right in our own backyard.

Those activities include Sky City's augmented reality feature. The feature encouraged Sky Tower visitors to scan the horizon and find hidden towers or statues around the world.

Visitors to Auckland and Christchurch Westfield malls also had the opportunity to experience the Green Fairy Adventure for children through VR Oculus goggles.

“Virtual reality is a game changer in healthcare and education, where people can be immersed in the human body to understand it and explore disease," adds Sheehy.

“This is just the beginning. Soon this industry will explode and like smartphones it will be hard to remember a world without VR and AR in our everyday lives.”

Security flaw in Xiaomi electric scooters could have deadly consequences
An attacker could target a rider, and then cause the scooter to suddenly brake or accelerate.
Four ways the technology landscape will change in 2019
Until now, organisations have only spoken about innovative technologies somewhat theoretically. This has left people without a solid understanding of how they will ultimately manifest in our work and personal lives.
IDC: Top 10 trends for NZ’s digital transformation
The CDO title is declining, 40% of us will be working with bots, the Net Promoter Score will be key to success, and more.
Kiwi partner named in HubSpot’s global top five
Hype & Dexter is an Auckland-based agency that specialises in providing organisations with marketing automation solutions.
Moustache Republic expands Aussie presence with new exec
The Kiwi digital commerce partner has appointed a Sydney-based director to oversee the expansion of the company’s Australian footprint.
Epson’s new EcoTank range with two years printing per tank
With 11 new EcoTank printers that give an average user two years of printing and cost just $17.99/colour to refill, Epson is ready to change the game.
Te reo Māori goes global via language app called Drops
If you’re keen to learn a few words of Māori – or as much as 90% of the language, you may want to check out an Android and iOS app called Drops.
Reckon Group announces a steady profit in 2018
Reckon continued its investment in growth throughout the year with a development spend of $14.3 million.