Today I am pleased to announce the XR Education Prize Challenge (“XR Edu”), an innovation competition funded by the Bill & Melinda Gates Foundation to accelerate the most promising companies innovating at the intersection of postsecondary education and virtual, augmented, or mixed reality (collectively, “XR”). XR Edu is part of the broader $1.5 million “Algorithm for Change: AI/ML & XR Access to Education” competition hosted by the NYU School of Entrepreneurship and Techstars, in partnership with University Ventures, Two Bit Circus and Women in XR.
Teams participating in the XR Edu Challenge will compete for the following cash prizes:
1st Place: $250,000
2nd Place: $100,000
3rd Place: $30,000
Submissions will be judged by a panel of prominent leaders in XR, venture capital and higher education. The Top 8 Finalists will be invited to compete at the XR Education Summit live pitch event, hosted by Two Bit Circus in Los Angeles. Prize winners will also be considered for additional convertible note funding up to $150,000* from University Ventures, the leading venture capital firm focused on higher education. The purpose of the XR Education Summit is to facilitate engagement and collaboration among industry leaders in XR, higher education, and venture capital. Attendance is mandatory for finalists, and travel expenses will be covered by the program.
Applications will be open through June 1, 2018. For information on application instructions, eligibility and scoring criteria, please visit the XR Education Challenge webpage.
My ultimate objective in leading this Challenge is to catalyze innovative solutions to address unmet needs in higher education. Affordability, quality, accessibility, and graduate employability are some of the most significant challenges facing higher education today. These issues are magnified for students pursuing post-secondary education from low income, inner city and remote communities. I believe that XR technologies have the potential to address these challenges through cost reduction, digital delivery, and the experiential nature of XR.
I have spent the last year developing an investment thesis around human-machine interaction and the future of work. As automation, robotics and artificial intelligence have the potential to displace hundreds of millions of jobs over the next decade, now more than ever we need adaptive training methods to help people prepare for the new economy. XR offers compelling opportunity for last-mile training models that connect education to employment, and enable real-time skill development.
Examples of XR education solutions include VR learning simulations for medical, industrial and emergency responder applications. VR training for surgeons and first responders allow trainees to practice new skills outside of a high-risk, high-stakes real-world environment. AR and MR data visualizations and digital overlays provide pre-professional training tools across diverse industries including civil engineering and construction, manufacturing, automotive, and defense. Experiential learning such as VR foreign language immersion has the potential to accelerate conversational fluency. The examples described above are just a sampling of potential applications for XR education; I am eager to see what additional novel applications will emerge during the Challenge.
For more information on the XR Education Prize Challenge, please contact Lara Jeremko at firstname.lastname@example.org.
*Funding from University Ventures is not guaranteed and subject to mutually agreed-upon investment terms between University Ventures and Finalist company management.
It seems like every day there’s a new form of digital reality. Virtual. Augmented. Mixed. Lightweight. Just this week, VR Digest coined the term “XR” to encompass all of these technologies, and I think the name aptly fits.
XR is part of a broader movement of new technologies improving human performance and experiences. Experiential technology (“XTech” for short) refers to opportunities emerging at the intersection of hardware, biosensors, AI and neuroscience.
I’ve been spending the last few months at Techstars building our strategy around XTech and human-computer interaction, and have been blown away by the conversations happening in this category.
I’m particularly fascinated by XTech’s potential to democratize experience and performance across massive industries including entertainment, health & wellness, learning and enterprise.
Experiential entertainment aims to improve the way we experience life and derive enjoyment. Technologies in this space are leveraging XR to provide compelling multi-sensory experiences to consumers.
Imagine people in markets around the world having access to life-like experiences in travel, live music, sports and remote areas of nature. Imagine immersive news and storytelling with the potential to convey empathy and compassion like never before, at a time our society needs it more than ever.
Advances in brain-computer and muscle-computer interfaces are creating new frontiers in cognitive and physical performance. EMG biomechanical analyses have the potential to enhance physical capabilities and prevent injuries for manual workers and athletes – professional and recreational alike.
Brain EEG sensors and neurosignaling tools have the potential to improve cognitive function and mental health for every person on the planet.
VR immersive learning environments are providing realistic training simulations to effectively prepare professionals operating in high-risk situations, such as military, medicine, and first responders.
VR simulations for public speaking and professional sports games are preparing presenters and athletes for high-stakes performances.
In the workplace, visual collaboration tools imagined in Hollywood movies such as Minority Report are now fully functioning in board rooms. Social robots are now in homes and hotels assisting people with service needs and safety monitoring.
While many of these solutions require significant investment or access to high-end research labs, I am passionate about making these technologies accessible to mass consumer markets. For this to be possible, costs need to be drastically reduced across the entire value chain.
To this end, I am very interested in enabling infrastructure plays including compression, data storage, battery efficiency and streaming technologies. Alternative consumption models, such as location-based activations and VR arcades will also help bring these technologies into the hands of more people.
At the forefront of the XTech movement is JAZZ Venture Partners, a San Francisco-based VC firm dedicated to unlocking human potential. JAZZ coined the term XTech and has been an indispensable thought leader for my own musings and explorations in this space. JAZZ recently led the Series B round of my favorite experiential entertainment company, Two Bit Circus, also a Techstars Ventures portfolio company.
JAZZ also organizes the XTech Expo, the world’s leading experiential technology conference. This year’s conference will take place March 14-15 in San Francisco. The conference schedule is stacked with innovation leaders across VR, film, gaming, human performance, and more. I’m emceeing the Expo’s Startup Showcase and incredibly excited to demo new XTech experiences.
If you’re like me and eager to participate in the conversation around how XTech will shape the future of humanity, let’s connect! Tweet me @larajeremko with your favorite XTech startup idea and I’ll send you a discount registration code.