FAQ

FAQ2019-05-30T19:54:39-04:00
Why XR Ignite?2019-07-28T09:44:29-04:00

Our mission is to hyper-accelerate XR for business and education.

Most startups do not have the resources to hire top tier full-time sales, marketing, legal and financial teams. The teams need help building their brand and strategic alliances, and becoming business-ready to work with enterprise. We provide guidance, checklists, curricula, and a-la-carte services at a discounted rate to allow our members to thrive.

Where are you located?2019-07-28T09:45:00-04:00

We are a global organization with distributed teams. Our curriculum will be delivered virtually including using VR & AR technologies. Our headquarters are in Toronto, Ontario, Canada.

What is the difference in the memberships?2019-07-28T09:46:40-04:00

We wanted to make sure we included everyone in the XR community; researchers, developers, studios, startups, enthusiasts, marketers and sales professionals. The XR Ignite Community Hub is priced to provide valuable information to everyone, but there are a few key elements that startups and corporate members will benefit from such as media lists, investor lists, introductions to corporate clients, etc. We will be providing valuable tips and seminars to learn how to become business ready and sell your products and services.

Our Startup membership will provide you with access to our XR Mentors who will guide you through our accelerator program and provide more guidance on your product, marketing, strategic planning and advice to scale.

Our Corporate Memberships provide access to our vetted XR Community where they can have access to early-stage technologies and advisory to using the technology for their own purposes.

Do you help XR Startups around the world?2019-07-28T09:34:02-04:00

We are a global organization with distributed teams. We are committed to having our community and program available to everyone and connect business around the world to the growth of XR technologies and their business applications.

How much do you invest in each startup?2019-07-28T09:45:53-04:00

Startups need more than just a cheque, which is why we offer flexible programs for each company. After we evaluate each XR startup submission, we invest our resources, money, and connections to ensure every company we work with has the best chance of success. Each startup is at a different stage of progress and requires a different level of resources, and we make investment decisions on a case-by-case basis.

Do you take equity?2019-07-28T09:46:03-04:00

Each XR startup is different and we review the best options strategically for both the startup and XR Ignite. We typically negotiate success-based warrants and/or options in the startup so we only get equity if we perform.

Why do you take a sales royalty?2019-07-28T09:47:09-04:00

One of the options as a startup in the XR Ignite program is to work with us to sell your product through our marketing channels and connection reach. You have the option to partner with us to market, brand, and sell your product to create the most value. Our global sales reach will hyper-accelerate your product to the right connections for the industry you are selling into. We only get paid for results, and we are highly motivated to make that happen for your company.

Do you work with companies outside virtual, augmented and mixed reality (XR)?2019-07-28T09:47:36-04:00

Typically no. Our primary experience is in XR business applications. We have considerable networks in the XR ecosystem and access to potential clients, investors and developers to help our portfolio companies grow fast. We consider XR to encompass; 360° photo/video, web3D/webAR, photogrammetry, 3D modelling, computer vision, machine learning, spatial audio, haptics, VR, AR, and MR and even scent to be within the realm of XR.

How do you work with the XR startups?2019-07-28T09:31:18-04:00

When you apply to be a part of the XR Ignite Community Hub, your profile will be evaluated to see what stage and progress you are at. Since everyone is doing something unique, we take this process very seriously. Our Co-founders have been part of Techstars, SXSW Pitch Competition, Auggie Awards, VR Awards, MIT Innovation Awards and have evaluated over 1000 applications over the past 5 years. This experience allows us to map out the XR Ignite community to see where collaborations make sense and facilitate conversations to help solve problems faster.

Through our XR Ignite evaluation system, your startup will be aligned with our program to help you become business ready. For some startups, the opportunity of investment, acquisition, or sales partnerships will be available to accelerate the company and product. One on one meetings with our XR mentors will be coordinated to ensure you have the best guidance, and we will work with you to prepare your sales profile through online communications.

What is the composition of your team, including backgrounds and team functions?2019-07-28T09:31:23-04:00

The accelerator team consists of professionals and subject matter experts from sales, marketing, branding, financial management, legal, investment/M&A, grant writing, enterprise licensing, computer vision, virtual & augmented reality, and UX/UI. Meet our team, advisors, and mentors.

What investment do you make in startups?2019-07-27T09:46:07-04:00

XR Ignite is designed to help as many people as possible to drive our mission to hyper-accelerate XR for business and education. The community is here to serve individuals, enthusiasts, developers, researchers, investors, customers, studios, startups, marketing and sales professionals.

Our accelerator program is only available to startups that are B2B, SaaS, and market-ready. Based on the progress of the XR startup, we will consider the ways XR Ignite could invest in time, money, mentorship and or connections.

How do you evaluate startups?2019-07-28T09:42:13-04:00

Startups are evaluated based on a number of criteria, ranking from 1-5 for each of the following criteria (out of 100):

  • 5 – The company is using XR technologies; Virtual Reality, Augmented Reality, Mixed Reality, 3D model capture, conversion, storage, Computer Vision, Machine Learning, Spatial Computing, Photogrammetry, Developer Tools, 360° Video/Photo, Point Cloud Mapping, Haptics, Peripherals, etc.
  • 5 – The team knows the problem they are trying to solve intimately?
  • 5 – The solution solves a big problem
  • 5 – This solution is a category maker (game changer)
  • 5 – The addressable market is very large (>$1B)
  • 5 – The product is top 1 or 2 in the market
  • 5 – The product has a brand and/or market traction, recognition
  • 5 – The solution is a product or platform (not a services provider unless unique and scalable)
  • 5 – It is clear the company understands who their customer is and how to make them happy?
  • 5 – The team is 1000% client focused
  • 5 – The team has had previous success or exits
  • 5 – The team has had previous failures
  • 5 – The demo/video is amazing
  • 5 – The team has the experience, character (integrity, drive, willingness to learn and be coached) to ship and stay the course.
  • 5 – There are sales being generated
  • 5 – There is other traction (users, press, etc.)
  • 5 – Personal opinion of overall company
  • 15 – Potential client feedback (will they use and pay for this?)
What are the returns, time horizons, and exit expectations of your startups?2019-07-28T09:31:31-04:00

Each company has different horizons and timelines. The accelerator is really there to take startups from POC to product and start selling their solutions into businesses immediately. Our goal is to prepare companies for sales, drive their recurring revenues up, and prepare them for additional investment and exit through acquisition or IPO. Our vision is to create the maximum returns for our investors within a 10-year horizon.

What’s the difference between you and the VRARA?2019-07-28T09:31:36-04:00

The Virtual and Augmented Reality Association (VRARA) is an industry association with a global membership and mandate, while XR Ignite is a community hub and virtual hyper-accelerator program designed specifically to connect startups, studios, and developers with corporate customers who want to solve large business challenges. We work collaboratively with the VRARA and our members gain discounts on VRARA memberships.  We are also partners with The Augmented Reality Enterprise Alliance (AREA), Academy of International Extended Reality (AiXR), and ARtillery.

OUR PARTNERS

VRARA
Fasken
MetaVRse
F6S
XR for Business Podcast