VIRNECT Monthly News (June 2022)
Expected Domestic(South Korea) Sales By Sector
- In the manufacturing sector, company H implemented Make and Remote solutions contributing to the $177,000 in total revenue in this sector, while company L implemented Make solutions. In the shipbuilding sector, Company D implemented Remote, while in the construction sector, company L implemented content creation, which contributed in part to the $108,000 total revenue for construction. Lastly, for education, ongoing sales of Make solution to universities were conducted.
Expected International Sales
- Starting in June, we will begin work on a meta factory project owned by company H in Singapore in collaboration with a notable European IT company. The contract size is $848,000, which is a sizeable increase from last year’s ($46,000) revenue.
VIRNECT was selected as a standout company among companies who applied to a program for those seeking to establish a presence in the USA
VIRNECT has been selected for the KIC (Korea Innovation Center) Silicon Valley Program of the National Information and Communication Industry Promotion Agency of Korea (NIPA) and the U.S. Enterprise Support Project (KVIC) conducted by Korea Venture Investment (KVIC). CEO Taejin HA is working on consultation and networking to expand VIRNECT’s U.S. business from early June to mid-July. We will also attend networking for local organizations (KVIC, KIC Center Director, etc.) and businesses (Fleetup, etc.) as well as VC, IR consulting and will attend Plug and Play Korea.
VIRNECT joins AWE USA 2022
VIRNECT participated in the world’s largest XR (extended reality) exhibition, ‘AWE USA 2022’. The Augmented World Expo (AWE) is an exhibition specializing in XR that has been held since 2015, with large companies such as MS, Qualcomm, Intel, MARVELL, and various companies related to XR technology participating. By participating in this exhibition, VIRNECT successfully promoted its plans to enter the global market by introducing its technologies and products to the global stage and discovering business leads.
VIRNECT presents at AWE USA 2022
VIRNECT presented the session under the theme of “Accelerating Digital Transformation in the Industrial Site with Collaborative XR.” VIRNECT introduced cases focusing on VR safety education and AR maintenance solutions by combining VIRNECT VR and AR (Virtual and Augmented Reality) technologies in construction and industrial sites. Later in the session, we introduced the use of VIRNECT Remote solutions at a mining site of the Peruvian company implemented through Proximity which we partnered with through the Born2 Global Center.
Introduction of VIRNECT’s new business
The new web service, Squars, is a webAR-based, real-time collaborative authoring and business application platform. Last month, through Vienna CONNECT DAY, VIRNECT released a teaser video and plans to enter the European and U.S. markets starting with AWE EUROPE as an official launch at the end of October.
VIRNECT Make and View products are being developed and commercialized for B2C markets. VIRNECT’s XR Academy is producing AR content that many people can enjoy using Make. We are also developing View (Service Name: VOOMB) that implements functions that allow users to easily and intuitively delve into AR content outside of our industrial products.
Vienna CONNECT DAY
VIRNECT’s European subsidiary participated in the CONNECT DAY event held by the Vienna Business Agency (VBA). This event is designed to introduce innovative startups to mark the 40th anniversary of VBA. VBA is the organization responsible for supporting the city’s overseas investment drive. At the event, VIRNECT released a teaser for its new business, Squars service.
Participated in METAVERSE EXPO 2022
VIRNECT participated in the METAVERSE EXPO 2022. Various officials from the VR, AR, and XR fields from domestic and abroad participated in this exhibition. In this exhibition, VIRNECT introduced products such as VIRNECT Remote, Make, and View.
Interview with VIRNECT’s European Subsidiary to Celebrate 130th Anniversary of Establishment of diplomatic relations between Korea and Austria
In celebration of the 130th anniversary of diplomatic relations between Korea and Austria, Arirang TV conducted an interview to introduce VIRNECT’s European subsidiary. The interview introduced Track XR SDK technology being developed by the VIRNECT’s Vienna Research Center and joint research plans with local universities. This interview will be broadcasted on Arirang TV news in June.
Video for the Promotion of Youth Innovative Enterprises in Public Procurement Service Office
VIRNECT created a promotional video for the promotion of Youth Innovative Companies of the Public Procurement Service Office. VIRNECT Remote and VIRNECT Make are innovative products designated by the Public Procurement Service Office. The video will be uploaded to the official YouTube channel of the Public Procurement Service Office in June.
VIRNECT Headquarters Opens Green Studio
VIRNECT opened its Green Studio on the first floor of VIRNECT’s headquarters. The green studio is used to produce XR content and conduct in-house town hall meetings.