Here at ROTU we’ve had the opportunity to learn what it takes to launch a VR startup. When we realized that the market would be worth up to $120 billion by 2021 we knew we had to take on the challenge. Keep these tips in mind if you're considering diving in yourself:
Find your niche - it took some serious brainstorming to realize how to leverage our talents and expertise into a virtual reality experience/product that people would be captivated by. The knowledge we collectively have in music, history, and mythology were woven together into an idea for a company and a game. We took narratives and characters from spectacular live concerts we'd developed and evolved them for a new digital storytelling universe. Whatever your startup product might be, make sure you’re making the best use of your passions and background, and then honing it into a laser-focused vision.
Find your audience - there are nearly 200 million VR users already around the globe. Do your homework, and make sure there’s an audience that would be eager to get their hands on your product. It’s worth spending the time to do your market research, especially if you want investors to take you seriously.
Keep your eye on emerging developments - this is a budding and quickly evolving industry. When Facebook acquired Oculus it dramatically increased the interest globally for VR, and even more-so when Sony jumped into the mix as well with PlayStation VR. Now we see that the race is on to elevate VR with physical enhancements like haptic feedback and devices that introduce stimulants like temperature and smell. Allow these advancements to spark new ideas, so you can transform alongside them.