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  • 16 February 2017 11:32

Velpic expands offering to include Virtual Reality Training

Velpic will launch the Velpic VR App and has also partnered with Cortex Interactive, a leading developer of Virtual Reality training content, to launch VR training on the Velpic platform.

Highlights

  • Velpic maintains industry leading position launching Virtual Reality (VR) platform
  • VR Learn App to be launched in early March expanding Velpic’s offering
  • Velpic partners with Cortex Interactive, leading developer of VR training content, to provide VR lessons for the Velpic platform
  • Partnership to see Velpic capitalise on the rapidly growing VR market expected to be worth $30 billion by 20201
  • VR offers significant benefits to customers including a far more engaging training solution that leads to improved knowledge retention
  • VR content to bolster Velpic’s revenue streams with the VR app offered on a subscription basis and content developed with fee for service

    Velpic Limited (ASX: VPC) (“Velpic” or “the Company”) is pleased to announce it will launch the Velpic VR App and has also partnered with Cortex Interactive (Cortex), a leading developer of Virtual Reality (VR) training content, to launch VR training on the Velpic platform.

    Velpic will shortly be launching its first VR-based product, the VR Learn App, which will enable customers to access entry-level VR content via the Velpic platform. The App is expected to launch at the beginning of March and will be available for download from the Apple App Store and Google Play app marketplaces. Velpic Marketplace VR lesson content is also currently in development and availability will start in April.

    The VR training content will range from premium immersion experiences, that will require a full suite of top-end VR equipment, through to entry-level content that will be available through the Velpic VR App simply using a Google Cardboard device and a smartphone. Entry level content will be developed initially by the Velpic Professional Services team and custom premium immersion experiences will be developed by Cortex.

    The virtual reality market represents a significant opportunity for the Company and is predicted to be worth $30 billion by 2020.. VR training provide a far more engaging training solution than traditional learning methods with the ability to immerse users in the experience.

    The VR training content is expected to bolster the Company’s existing revenue streams providing a significantly differentiated product suite for existing and new customers. Content will be priced on both a subscription service and a professional service fee basis depending on whether the customer opts for the entry-level content to be available on the Velpic marketplace or bespoke content to be developed in partnership with Cortex. Existing customers may be required to upgrade to a VR package in order to access the new VR content via the Velpic VR Learn App.

    Cortex has been in the VR industry for 5 years and has worked with more than 30 clients to develop engaging, affordable and highly targeted VR training content that has proven to improve the training outcomes of employees. In particular, VR content can be extremely effective in situational training such as traffic management, health & safety in the workplace, site inductions and more.

    Russell Francis, Chief Executive Officer, Velpic said: “VR will soon be a mainstream method of workplace training as it offers a compelling range of benefits including enhancing the learning experience that ultimately leads to higher knowledge retention. Much of this is due to the fact that VR training offers a much more enjoyable and engaging multi-sensory experience. “What we are doing, alongside our partner Cortex, is delivering a VR training solution that is both cost-effective and practical to implement. Traditionally VR has been expensive and complex however by eliminating these challenges we are bringing the option of VR training solutions to all businesses.”

    Tim Angel, Chief Executive Officer, Cortex Interactive commented: “VR for training is clearly now moving past the phase of early adoption and is making its way to mass adoption. Whilst it has long been used within the military, medical, mining and high risk manufacturing industries for training within hazardous situations, the technology is now more advanced and widely available. We want to maximise the use of VR technology for workplace education, which is why we have partnered with Velpic’s leading workplace training platform to bring VR training solutions to a mass audience.”

    **ENDS**

    For further information, please contact:

    Investor queries:
    Russell Francis
    CEO – Velpic
    +61 8 6160 4455
    russell@velpic.com
    www.velpic.com

    Media queries:
    Ben Grubb
    Account Director
    Media and Capital Partners
    +61 414 197 508
    ben.grubb@mcpartners.com.au

    About the Velpic Group

    The Velpic Group consists of two related entities: Velpic, a cloud-based video eLearning platform, and Dash Digital, a brand technology agency.

    Velpic has developed a unique online platform that provides a scalable, cloud-based training, induction and education solution for businesses. The platform allows businesses to create their own training lessons and distribute them to staff and contractors, who can access the Velpic Platform on all devices including mobile phones and tablets.

    The cloud-based platform has global potential and is set to disrupt the traditional Learning Management System (LMS) marketplace, and Velpic already has an extensive list of ASX 200 clients using the platform. Dash Digital is a full service digital branding, marketing, web and app development organisation that seamlessly blends creative and development talents across all disciplines – visual design, print graphics, websites, software development and online marketing.

    About Cortex Interactive

    At Cortex Interactive we specialise in interactive digital training solutions that adopt technologies such as Virtual and Augmented Reality. We focus on creativity and innovation, new technologies, new methodologies that deliver high-end training and education experiences. We thoroughly enjoy what we do and believe this should carry through to the end user. As such our core focus is to create meaningful and enjoyable experiences that people remember.

    Our solutions are easy to approach, yet complex enough to activate and stimulate the learning centres of the brain. After all, the brain doesn’t respond well to spoon feeding. It prefers to devour information in its own way. We allow the cerebral cortex the breadth of options it needs – and it thrives.

    We have a dedicated and creative team equipped with knowledge, enthusiasm and products and can assist you with all of your online training and assessment needs. With our outreach throughout Australia, Cortex Interactive is your ideal technology partner.

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