VR Cafe was a start-up company with the mission of provisioning an economic and
technologically advanced platform for enthusiasts to socialize and
collectively enjoy their passion for Virtual Reality. It was created by me as
part of the Imperial College Business School module Entrepreneurship
While it is true that the VR market showed huge potential, it remained far from mass adoption. Firstly, the technology was still young, so it was not yet as widely accessible as it would be in the long-term future. Secondly, since the market had not yet matured, prices of products were high, product cycles were short, and the shadow of obsolescence could sometimes be felt around the corner. VR was also a diverse field, with different companies pursuing different approaches.
VR sets were not very portable pieces of technology. Moreover, it was highly unlikely that two friends could own a set each. This made socializing in-person while using VR very difficult, and making new friends (in-person) while playing was a nearly impossible task. Since the majority VR users were gamers or entertainment seekers, socialization was, interestingly, a highly sought-after aspect of the experience.
VR Cafe provided a social space and high-end equipment which customers could hire to experience the immersive technology with their friends at affordable prices.
My coursework team consisted of 6 people and delivered a Business Model Canvas, a Business Plan, a Pitch Video and a Pitch Deck, achieving an A* overall.