SOlution to a Problem
The world is changing. There are good changes, but there are also adverse changes, such as strict social mobility, increase in poverty, political issues, and environmental concerns. Lyfta is an educational VR program that is not trying to teach and prepare students for the future by training them in math, science or other core subjects. Lyfta is trying to educate and make students in life skills that will help them in their future by allowing them to explore values, empathy, understanding, and tolerance as a global citizen.
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Analytical Framework
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Market Focus
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Offering
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The Buyer
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Global Target
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Market Status
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Competition
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The market focus of Lyfta can be integrated into all three areas (K-12, Higher Education, Training Needs). However, the most ideal market focus for Lyfta will be in K-12 and Training Needs. Lyfta has already made some positive progress in Training markets, specifically with IFRC and the Finnish Red Cross.
Lyfta offers mainly content as their primary type of offering. Once the school or the district subscribes for a license, they are delivered with over 90 cross-curricular lesson plans, 25 immersive human stories, 25 assembly plans an 11 of the UN Sustainable Development Goals.
Looking at Lyfta's subscription information, there are three price points which are determined by the number of pupils in a school. The licenses are divided as; euro 1600 for fewer than 200 pupils, 2550 for 200-500 pupils, and 3400 for 500-1000 pupils. Therefore, the buyer of this product will likely be a Head of School buying for the learners. I also think a jurisdiction such as a school district may bye multiple licenses depending on the size of the district.
As of now, Lyfta is focusing on the Primary and Secondary curriculum of Finland and UK. Therefore, it is definite that European countries with language skills will be the main focus. However, with all of the content having subtitles, it does have a room for Anglophone countries. All of these targeted countries do have the ideal internet infrastructure for usage of Lyfta.
The market right now supports the import of both content and infrastructure. I also believe as VR’s are getting more affordable day by day, it will become less challenging for Lyfta in the future to export.
There is no doubt that educational VR market is growing. More ventures are entering this market for both profit or non-profit. Lyfta, a Finnish based VR company that focuses on storytelling, does have competitions. To name a few, The Virtual Reality Company, Google Expeditions, Fox Innovation Lab, and BBC are the closest competitors. However, from my point of view, I am confident that Lyfta does have some competitive edge.
For example, The Virtual Reality Company and Fox Innovation Lab focus on creating an animated environment to take users on a journey, which can be entertaining but not realistic enough to bring out the emotional reaction.
On the other hand, Google Expedition and BBC is a massive corporation that has the right tools and the team for creating an immersive experience with a variety of contents. Yet, they both do not offer what Lyfta offers, a life story that students can explore. Google Expedition and BBC do a fantastic job using real images of places around the world that students can take a virtual field trip to as a pure sightseeing experience.
For example, The Virtual Reality Company and Fox Innovation Lab focus on creating an animated environment to take users on a journey, which can be entertaining but not realistic enough to bring out the emotional reaction.
On the other hand, Google Expedition and BBC is a massive corporation that has the right tools and the team for creating an immersive experience with a variety of contents. Yet, they both do not offer what Lyfta offers, a life story that students can explore. Google Expedition and BBC do a fantastic job using real images of places around the world that students can take a virtual field trip to as a pure sightseeing experience.