Brisbane business changing world of Virtual Reality
Immersive Robotics, a Brisbane tech company, has developed a system that will revolutionise the world of virtual reality, following a grant from the Palaszczuk Government.
Immersive Robotics has developed an algorithm for better compressing and wirelessly transmitting data in augmented reality and virtual reality experiences, putting it at the centre of the next generation of digital experiences in fields such as entertainment, education and electronic commerce.
Innovation Minister Kate Jones said Immersive Robotics Pty Ltd (IMR) received $100,000 from the Advance Queensland Ignite Ideas Fund in 2016 to help refine its wireless virtual reality (VR) technology and demonstrate the system to major corporations.
“Immersive Robotics is at the forefront of wireless virtual reality data streaming and I’m proud that the Palaszczuk Government seized the opportunity to support them when they needed it most,” says Ms Jones.
“This company is one of the largest employers in Queensland’s emerging VR industry and a recognised global innovator. Their project has directly contributed to the creation of six new jobs since 2016, with the company continuing to grow to its current size of 23 employees.
This is exactly what Advance Queensland is all about. We’re investing in growth industries to create sustainable jobs for Queenslanders.
“In the last three years, we’ve created 11,300 jobs through Advance Queensland – that’s 300 jobs in the last six months alone.”
IMR co-founder Tim Lucas says having the backing of the Queensland Government for startups is extremely important.
“The Advance Queensland Ignite Ideas grant gave IMR a funding boost early on at a critical juncture and allowed us as founders, to build value in the company and not give away too much equity at a time when the valuation was lower,” says Mr Lucas.
“This got us to the point where we had more commercial interest and greater investment potential, in turn allowing IMR to grow quicker and hire more employees.”
Mr Lucas says IMR’s proprietary algorithm had been designed to become the standard in VR data compression and transmission.
We live in exciting times when it comes to connectivity and computing technology, with Augment Reality (AR) and VR being one of the chief drivers.
Mr Lucas believes advances with network speed through developments, such as the next-generation 5G mobile networks, will provide an environment for AR and VR technologies to rapidly change how people compute and interact with technology.
“Instead of a web page buffering data behind a flat screen, data will be streamed in a way that people will navigate through a 3-dimensional space using VR and AR.
“Cyberspace will become a place you can touch,” he says.
“This cutting edge connectivity also lends itself to real-time streaming to phones, TVs and other devices. IMR is engaging opportunities to make our compression and streaming technology the de-facto standard.
We are well positioned to take advantage of 5G to connect these devices faster than anything seen before.
IMR co-founder Daniel Fitzgerald says: “Solving issues relating to streaming to next-generation VR head-mounted displays and AR glasses, will place IMR at the forefront of VR and AR technology worldwide and result in immediate commercial applications in various commercial sectors already being discussed.”
Innovation Minister Kate Jones says the Palaszczuk Government had now supported more than 200 Queensland businesses with $26.5 million in funding through three rounds of the Ignite Ideas Fund, driving more than 1,000 new jobs in the process.
“This government is providing these innovative businesses with opportunities to take their amazing ideas to new levels and new markets.”
Ignite Ideas is a merit-based, competitive fund aimed at assisting innovative small-to-medium Queensland businesses with the commercialisation of their new, market ready products or services.
It is part of the Palaszczuk Government’s $650 million Advance Queensland initiative designed to stimulate the economy and create jobs.