Irish Innovation Creates World-First Digital Experiences
Business & Innovation
vStream, the award-winning experiential technology company creates immersive consumer experiences for big-brand customers and now has its sights set on the lucrative pharma and manufacturing sectors.
Founded in 2007, vStream quickly moved into the UK market with a major commission from the Westfield Shopping Centre group to engage shoppers with its interactive technology such as ‘5D for Christmas’ and clickable video content. Commissions from further afield followed, including work for the San Francisco 49ers and the US Super Bowl.
The company uses leading-edge technologies, such as Augmented and Mixed Reality and gestural holographic interfaces and was selected to create a holographic tour guide named Simone to demonstrate Audi’s new models as well working with global brands such as Formula One teams McLaren and Mercedes F1.
Today, 70% of vStream’s revenues come from outside Ireland with co-founders Niall O’Driscoll, a creative director, and Andrew Jenkinson, a technologist driving their bespoke innovations to global markets.
“What we do has always been very different and big brands are always trying to tell their story in a new way,” says O’Driscoll.
Creativity drives innovation at the company and if the technology required to deliver an experience doesn’t exist, “we build our own”, he says. To ensure vStream has the resources to do so, operational efficiencies are vital as is the support from Enterprise Ireland to implement operational excellence.
“Because we are selling something innovative we have to be as efficient as possible in order to get the value out of what we charge clients. That’s very important when you are creating ‘world firsts’, as we often are.”
As part of their drive to ensure efficiencies across the company, vStream has introduced resource management and time-tracking software programme 10,000ft. The software integrates with their accounts process and tracks the working hours dedicated to projects. They have also moved away from email preferring cloud collaboration tool Slack to organize their communication. This approach to boosting efficiencies from concept to delivery will allow the company to drive competitiveness and become key players in this busy market.
Much of vStream’s intellectual property has been patented and future revenues will increasingly come from licensing its technology around the world.
“We had created all this value but had realised only a small amount from our IP. We have done the R&D, proved our product in the market, now it’s about taking it out to compete in as many markets as possible. Future growth will come from exploiting that IP commercially” says O’Driscoll.