Twenty-seven venture capital funds and investors have come together to hold a contest to find the best augmented reality (AR) pitch from impressive startups. The content is dubbed as the Global AR Online Pitch Event and the winning contestant can be sure to gain investment from one or more of the partaking groups.
Global AR Online Pitch Event is made up of The GFR Fund, Super Ventures and The Venture Reality Fund (The VR Fund) who are all come together to put on the Global AR Online Pitch Event. Though the deadline for submissions is April 23rd, the contest is still to run until late May as a number of different stages of review must be carried out until the winner is announced live on stage at the Augmented World Expo (AWE) USA 2018 in Silicon Valley on May 31st, 2018.
After submission period ends and the applications have been reviewed, eight startups will be selected as finalists to present at the online pitch event, which will take place live before investors. Each finalist will be giving five minutes to pitched, followed by two minutes of questions and answers from the selected panel of investors. The finalists will also deliver live pitches at AWE USA 2018 as well, in what can only be guessed to be in front of a live audiences as well.
The finalists will be given some support though, as once selected each finalist will work closely with a mentor to solidify their final presentation prior to the online event. There will also be constructive feedback from key investors and venture capital funds delivered to each finalists.
In order to participate in the Global AR Online Pitch Event, startups must meet the following criteria:
- Pre-seed, seed or Series A investment
- Working on a product(s) in AR space
- Has at least an MVP (Minimum Viable Product)
The amount of investment that is up for grabs for the winner is not known yet, but given that each of the investors will contribute towards the amount it is expected to be a large amount. With the recently launch of ARKit and ARCore making it more accessible then ever before to build and deploy AR experiences to the mobile market, it will be interesting to see what pitches come from the Global AR Online Pitch Event. Those looking for more details or to get a last minute submission in can do so at the events website.
VRFocus will be sure to bring you all the latest from the Global AR Online Pitch in the future so stay tuned for more.