Enterprise Europe Network

A VR-specialized Korean company offers a white label ‘VR Education/Media Platform’ that provides the end-to end functionality required for VR media services

Country of origin:
Country: 
SOUTH KOREA
Opportunity:
External Id: 
BOKR20190923001
Published
23/09/2019
Last update
25/10/2019
Expiration date
25/10/2020

Keywords

Partner keyword: 
Computer Software
Visualisation, Virtual Reality
Audiovisual Equipment and Communication
Radio and TV broadcasting stations
Other commercial communications
Streaming
Communications services
Software services
EXPRESS YOUR INTEREST

Summary

Summary: 
A Korean company specialized in VR has developed a white-label Social VR Media Platform which provides various types of video-on-demand (VOD) and live-streamed content, such as 2D and 3D imaging in a virtual space, with no location restrictions. Under a license agreement, commercial agency agreement and joint venture agreement, the company wish to form a partnership with software or VR software distributors for a more exciting user experience.

Description

Description: 

Virtual reality (VR) is fast becoming one of the most popular emerging media technologies for sharing innovative content. VR allows users to immerse themselves in 360-degree 3D virtual space, where they can experience realistic content using head-mounted displays (HMD). For this reason, in addition to a variety of more traditional media such as mobile apps, games, and video content, the popularity of VR is growing day by day in terms of both scope and application.

In the media sector, however, VR-related industries are focusing on content production only, which means you need an all-in-one solution to manage content more effectively, to provide value-added information and to deliver it all to the user in a fun, exciting media package. To solve the current lack of utilization, a VR-specialized Korean company has developed an innovative Social VR Media Platform which can benefit users in various industries.

This solution enables media service providers to efficiently manage, sort, and organize numerous types of media content.
It provides various types of video-on-demand (VOD) and live-streamed content, such as 2D/4K/180 3D/360 videos/images with no location restrictions. Thanks to this innovative technology, it becomes possible to enjoy movies, sports, events, performances, and other content with a group of friends and family members in a virtual room, where broadcasters can provide a wide range of services and options.

This solution also includes multi-way video-streaming synchronization and video-sharing technology to prevent transmission lags and delays between viewers and enables real-time voice chats within the virtual environment. It is also possible for users to manage their social network friends and avatars. Different virtual spaces are provided according to media channels and content so that users can individually select and manage their virtual space. All of this can interlink with over-the-top (OTT) media service and telecommunications companies (VR Social OTT), and this will result in a more systematic and complete service experience for users.

Additional add-ons such as dashboard, personalization, and presentation, etc. could be beneficial for those in the education field. For example, an instructor will be able to invite students to the virtual space and provide lectures through real-time voice chat. The solution can support the maximum of 20 users in the same virtual space (20 Avatars in one virtual space), and such space can be expanded to 10,000 or more. To this end, up to 200,000 people can concurrently watch the same contents of media regardless of their restrictions on location.

The performance and reliability of the solution have already been proven both in domestic and overseas. The company, not only won the “SoftBank Innovation Program for VR/AR” and was highlighted as an innovative Asian company by Orange Fab of France. It also proudly won the “VR Startup Competition Grand Prize” and was selected as a K-Global 300 ICT Promising Company by the Ministry of Science, ICT, and Future Planning of Korea.

Based on its competencies mentioned above, the company wishes to expand its overseas markets through license agreement(offering a license), commercial agency agreement on a commission basis, and joint venture agreement considering establishing a new entity of two parties in the European market. Any organization in need of such a solution for education/media or any individual interested in reselling it can be the company’s potential client.

Advantages & innovations

Cooperation plus value: 
1) For all: Users can manage their social network friends and avatars. Different virtual spaces are provided according to media channels and content so that users can individually select and manage their virtual space. All of this can interlink with over-the-top (OTT) media service and telecommunications companies. Because the solution can combine 2D and 3D content with VOD and real-time live streaming, users can experience a high-level vividness and interactivity of being “in the field.” Using the social TV function, users can invite friends to enjoy sports events and concerts together, with built-in voice chat functionality. 2) For media service providers: It enables them to efficiently manage, sort, and organize numerous types of media content. Besides, a variety of interactive add-ons such as information, social media, and chat functionality can provide a more systematic and complete service experience for users. 3) For broadcasters: It is possible to reduce the time and cost of building a broadcasting service system, and also solves the issue of spatial constraints. In addition, the global Content Distribution Network (CDN) enables unrestricted content services, both domestically and internationally, and allows easy management of user and administrator rights assignment via the solution.

Stage of development

Cooperation stage dev stage: 
Already on the market

Partner sought

Cooperation area: 
- Type of partner sought: Prefers corporations - Specific area of activity of the partner: ICT related fields including IoT, AR/VR or any corporation in need of such type of media platform (opened to any industry). - Tasks to be performed: Distributing software, introducing the company’s solution to potential customers, or purchasing software by itself.