Virtual Reality and Sustainability
Virtual Reality and Sustainability are the new strategic pillars for Virtualware
Building on 16 years of innovation and its position as a pioneer and leader of Immersive Technologies, the international company has prepared their 2021-2023 strategic plan in response to a globally challenging year. In 2020, Virtualware experienced the effects of the crisis (caused by covid19), falling short of its growth expectations. According to Unai Extremo, CEO and Founder, “On the good side, it has been a year full-of-learning in which we have spent a lot of time thinking about our future, and pondering how and where we want to bring value in this new economy”
The 2021-2023 strategic plan has been named “A New Path”
“A New Path” is the result of expertise accrued over the last 16 years of pushing the boundaries of Immersive Technologies, a key pillar of the company from the very beginning when the company was founded by three computer engineers passionate about Virtual Reality technology. It has been an exciting journey in which the company has found its way through the development and creation of custom solutions for the business sector utilizing the potential of immersive technologies. A journey in which the company has gradually grown, evolved, and matured into making a name in the VR industry.
“This strategic plan means the beginning of a new path for Virtualware. We are starting a new period in which we are undoubtedly and decisively committed to Virtual Reality and to Sustainability: our main pillars for the upcoming years. “A New Path” means driving our business to build a more sustainable future through our commitment to the Sustainable Development Goals (SDGs) and through the expansion of the use of Virtual Reality to help organizations and institutions to be more sustainable”.
Focus on VIROO: The unique VR tool on the market
VIROO is an innovation tool that simplifies the adoption of Virtual Reality, giving companies and institutions the power to pursue the extraordinary by boosting innovation, and placing the whole potential of VR in their hands.
VIROO has been created by Virtualware with the purpose of becoming the technological standard in Enterprise VR. By creating a commercial standard VIROO will help companies and institutions get the most use out of one of the most enabling technologies when it comes to growth and creating value: Virtual Reality.
Universities, multinationals, and innovation centres located in Europe and in America are already using VIROO to be more competitive and sustainable. Virtualware’s main purpose is to democratize VR technology by leveraging this innovative and sustainable approach.
Sustainable growth and profitability
Enhancing VIROO and significantly increasing the number of entities using this VR tool will be the main goal of the company for the coming years. VIROO’s business model, based on a pay-per-use and service approach, will establish sustainable growth for Virtualware with the intention of significantly improving its operations profitability.
The virtual reality company has two goals for 2023: to reach 6 M€ turnover, and an EBITDA of more than 20%.
“Our new strategic plan is a New Path intended to drive our business to build a more sustainable future through our commitment to the Sustainable Development Goals (SDGs) and through the expansion of the use of Virtual Reality to help organizations and institutions to be more sustainable“
Unai Extremo, Founder & CEO Virtualware
R&D&I, Alliances, Service, Branding: The strategic priorities
The Strategic Plan 2021-2023 clearly establishes the company’s strategic priorities, encouraging the use and adoption of VIROO among our current and new clients. Our main actions will be
- Investing in R&D focused on VIROO.
- Generating strategic alliances with multinational companies.
- Implementing top rated service-oriented towards creating success stories with cur clients.
- Enhancing and reinforcing of the VIROO brand, mainly in Europe and North America, that will be the priority markets for the company.
During the period 2021-2023, the company plans to invest more than €2 million in R&D+i just in VIROO.
“A New Path” starts now for the company, along which Virtualware’s commitment to democratize VR technology through an innovative and sustainability approach. Over the next three years, Virtualware will continue to deliver on its promise to offer accessible and reliable VR solutions through VIROO, giving them the power to innovate nd build a more sustainable future.