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PropTech Flash Talk #07 VR Space

We would like to introduce Zbyněk Pohořelský, executive of the VR Space. A  company that creates virtual and augmented reality, visualisations, and more, with an overlap using real-time programs. 

WHAT IS THE COMPANY’S MAIN OBJECTIVE, AND WHAT IS YOUR ROLE WITHIN THE COMPANY?

At VR SPACE, we create virtual and augmented reality, visualisations, and animations with overlap using “real-time” programs and other marketing tools and configurators. Thanks to our colleagues from a variety of fields, we work primarily in construction, but also in healthcare, engineering, education of employees, as well as students in schools.

HOW DID YOU GET TO WHERE YOU ARE TODAY? 

A really long and interesting journey led to the establishment of VR SPACE. We first started in  1998, and we have come a long way since then. However, thanks to our passion for modern technology and marketing, we have become specialists in the field of VR, AR, visualisation, animation, and other tools.

WHO ARE YOUR TARGETED CUSTOMERS? 

We mostly work with larger development companies to launch their exciting project on the market. Other fields are primarily engineering companies with more complex products or activities for presentation, understanding/training, and primary, secondary and higher education.

WHAT ARE THE MAIN PROBLEMS YOU SOLVE?  

If I would describe our activity in one sentence, it would be: We help with imagination, spatial perception, understanding of processes, and education through practical experience and emotions.

WHAT DO YOU SEE AS THE MAIN HIGHLIGHT OF YOUR SOLUTION?

The combination of unique creativity and automation of the development process is a  powerful competitive advantage. We are especially proud of our team, which, thanks to its professional diversity, can  create professional and unique projects through all fields..

WHAT DO YOUR CUSTOMERS APPRECIATE MOST ABOUT YOU?

Faster sales (cashflow), reliability and flexibility

LET’S TALK NUMBERS: CAN THE BENEFITS OF YOUR SOLUTION BE MEASURED? 

In the Czech Republic, 85% of VR / AR projects in the field of construction are the work of VR SPACE. Customer satisfaction is especially essential to us – 95% of our projects are still in use, and the vast majority of customers demand more projects.

WHAT WOULD YOU LEAVE YOURSELF WHEN YOU STARTED A COMPANY? WHAT ARE YOUR MAIN LESSONS?

The company is not a “one-man-show”. It is essential to work with skilled people who share determination and passion with you.

WHAT IS CURRENTLY YOUR PRIMARY CHALLENGE?

Expansion to the UK.

We already operate in the UAE for example, and now with Brexit and with the COVID-19 pandemic, things are tricky. However, the  situation has helped us in the direction of digitisation.

WHICH OTHER PROPS DO YOU CONSIDER TO HAVE THE MOST INTERESTING INNOVATIONS?

Each Proptech is attractive from a different perspective. It’s great to be in an ecosystem of innovators with different specialisations, but the same denominator. Each customer solves a distinct need in a given situation, and in the Proptech association, the customer can find a partner already tested and approved by the market.

Corona survey:

WHAT IS THE MAIN RISK THAT CORONA BRINGS TO YOUR BUSINESS?

We prefer to meet customers in person, and now we have to move everything to the digital environment. Some companies will save and reduce budgets. This will affect some companies more, some less. In our country, however, we expect an increase in demand in some fields.

HOW CAN YOU HELP YOUR CUSTOMERS IN CONCERNING TO CORONA OR ITS CONSEQUENCES?

We can make our customer’s product more attractive by allowing themd to choose it in person and be willing to discuss it. At the same time, we will explain the product and pass on enough information so that only relevant interested parties come.

WILL TARGET CUSTOMER SEGMENT CHANGE DUE TO CORONA?

Changing our target group would be a  “somersault”! We are already a larger company and rather than changing the type of customer, we have expanded our product portfolio and placed more emphasis on online products with a greater reach.

WHAT GROWTH DO YOU EXPECT IN Q2? BIGGER, SAME OR SMALLER THAN IN Q1?

We have already contracted projects long in advance, so we expect a steady increase for the rest of the year. Meanwhile, we are gradually expanding our team.