VirtualGrasp

Hear the Pitch

The Problem

One of the primary ways employers train employees is through manuals and videos, despite the fact that many people learn better by doing. Virtual reality (VR) training has been proven to effectively upskill employees and save costs for industry companies. However, it is currently too cumbersome and expensive to provide interactive VR training at scale.

The Solution

VirtualGrasp addresses this issue by enabling manufacturers to deploy customized, scalable VR training. Based on years of robotics research, VirtualGrasp software automates the complex process of creating interactivity in training simulations. It includes standardized core components of the VR development process, re-using learning models and automating technical elements, to efficiently create customized applications.

Through this software, manufacturing companies gain access to a VR training application that lets employees practice operating machinery in a natural and realistic way. Settings can be adapted to the company’s specific manufacturing environment, effectively upskilling workers and helping to prepare them for automation.

Market Opportunity

• Manufacturing employs 42 million people in the US and EU, and will continue to be a major employer, providing 12 percent of all jobs in the EU by 2025.
• The cost of downtime caused by human errors in manufacturing companies is estimated at over $600 billion.
• VirtualGrasp estimates 80,000 relevant customers for training applications including construction, healthcare, and maintenance

Organization Highlights

• In 2018, received US $2.3 million in funding from the EU
• Awards: Winner of EIT Digital Idea Challenge, Super Startup of the Year by Veckans Affärer, General Motors Prize for Advanced Technologies
• Featured speaker: Game Developers Conference (GDC), Virtual Reality Developers Conference (VRDC), Augmented World Expo (AWE), and more

Existing Partnerships

VirtualGrasp currently partners with research institutes and industry leaders in Sweden to pressure-test and spread its technology, such as:

• The Royal Institute of Technology and RISE SICS in Sweden, and CEA in France
• Lernia, a major training provider in Sweden
• ABB
• Saint-Gobain

Organization Goals

VirtualGrasp seeks to achieve the following goals:

• Identify two large-scale client pilot projects
• Reach over 100,000 employees in three years (up from approximately 1,000 today)
• Expand the use of technology to non-technical tasks, such as education

Partnership Goals

To reach these, VirtualGrasp seeks partnerships to:

• Identify potential customers within manufacturing and other industries working on employee training and learning
• Engage mentors experienced with promoting advanced technology in rapidly shifting markets
• Build awareness for the potential of VR through conference participation and media opportunities