There has been a lot of media attention recently around augmented reality (AR) and virtual reality (VR). Investors have been eager to get in on the ground floor of the next AR or VR venture, as the futuristic nature of the technology involved in both areas is very appealing. Consumers are seeing a growing array of applications and products, designed to reshape the way we watch, touch, and feel media. Some people, however, are unaware of the differences between VR and AR, and it is important to understand those differences if you are an entrepreneur or business owner thinking of making an investment.
Virtual reality (VR) is an artificial, computer-generated simulation or regeneration of a location or situation. VR users wear a specially designed headset with built-in display and headphones, which creates an immersive experience, making the users feel like they are experiencing simulated reality. Some VR systems also make use of gloves or handheld devices which track the
At the moment, VR is often used for computer gaming, giving players the experience of being inside the landscape of the game. VR also has more serious uses, as it can also be used to enhance training for
Augmented reality (AR) is a technology that adds a layer computer-generated enhancements on top of a real live scene. This gives users additional information and options for digital interaction. AR apps are used on mobile devices to blend digital mechanisms into the real world to enhance reality rather than replace it.
AR technology is quickly coming into the mainstream. It is used to display score overlays on telecasted sports games and to pop out 3D emails, photos or text messages on mobile devices. Leading developers of AR have demonstrated uses with holograms and motion activated instructions.
Both augmented reality and virtual reality are using technology to deliver enhanced and enriched experiences for the user. Virtual reality offers a digital recreation of an entire real or imagined world, while augmented reality adds virtual services as an overlay to the physical world around the user.
Not that long ago, the opportunities offered by both augmented reality and virtual reality would have been dismissed as science fiction fantasies. But technology has caught up
Government funding is also available for AR and VR research and development. Innovate
Innovate UK is now looking to invest up to £25 million in game-changing and commercially viable R&D innovation that can significantly impact the UK economy.
UK registered micro and small businesses in the creative industries sector, can apply for funding up to £50,000 with a package of support to grow their business.
UK registered SMEs can apply for a share of up to £25 million to develop innovative solutions to health and healthcare challenges. This funding is from Innovate UK.