MARKET

VRIBUS is focusing on academic students and business professionals, 20-54 years old. Serviceable Available Market (SAM) in Europ and Latin America is 36 million consumers, including the target age range living in urban regions and having an internet access. Serviceable Obtainable Market is 4 million consumers.

 

VRIBUS will be launching the first product in March-April 2021, hence there is not ongoing market/sales activity. However, the predecessor Fit&Feel, executed a product validation during 2016, focusing on university students with a stage fright. Validated product was VRIBUS Stage Fright protocol. The product validation was attended by 40 academic students from Carlos III University and from the University of A Coruña and results were impressive with more than 76% of the symptoms being eliminated. 97% of the students experienced improvement after 41 minutes (on average) session.

 

VRIBUS team ran a market demand validation in June 2020 focusing on business professionals. The validation was carried out using an online survey which was answered by 110 business professionals and university students. Results were analyzed and business plan (eg. product roadmap, sales roadmap) updated accordingly. The most common fears and emotional challenges (within the target group) are shown below:

96% have not tried VR and AI based tools, but 93% were willing to try or eager to know more.

When asked how much they are willing to pay, avg. payment was 30€.

73% of responses turned into leads as participants were willing to try or have more information about VRIBUS.