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    Date submitted
  • 24-Nov-2017
    Categories
  • IT

Immersive Memories

Abstract

The technological evolution of the Memory Book

Additional Questions

Who is your customer?

The users that will be directly benefited by Immersive Memories are people who have lived or will live unforgettable experiences such as national and international travel, weddings, shows, festivals, and graduations. These people, above all else, value these experiences enough to record them in the best possible way to carry these records for the rest of their lives. The current trend for Millenials is valuing and investing much more in experiences other than physical goods, and this trend is only growing bigger. There is a global demand for a solution such as Immersive Memories, and the market for it is divided into segments according to the types of experiences. Both the solution and the business model are scalable enough that Imersa can reach an international audience already in the second year of the company.

What problem does this idea/product solve or what market need does it serve?

Consumers of the current and next generations value much more experiences over consumer goods. This statement is justified by the fact that 78% of millennials would choose to spend money on an experience or event instead of buying something physical, and 55% said they are spending more on these than ever before. Beyond that, 72% of them said they would like to increase their spending on experiences rather than physical things in the next year, pointing to a move away from materialism and a growing demand for real-life experiences. That trend reflects on the memories carried by millennials, 8 out of 10 of them say some of their best memories are from an event or live experience they attended or participated in. With that in mind, the way people record and register those experiences must be understood, and we can find some problems in them. The first one is the non-democratization and exorbitant pricing of the professional photos and video solution, that result in analogic products with few personalization options. Although the technological advances gave us new forms of registering moments, digital media is proving to be increasingly disposable, even more with the fact that there will be taken 1.2 trillion digital photos only this year. Those media can also be frequently lost, accidentally deleted or stolen. There is no middle ground between these solutions; they are either extremely costly, time-consuming and analog, or made by the own users in an amateurish, disposable and disorganized way.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

Considering the growing valuing of experiences by the current and future generations and the current limiting methods to register and record those events, Imersa idealized a disruptive solution called Immersive Memories to solve these problems, which represents the technological evolution of the memory album. The product is a web and mobile platform that transforms all the texts, photos and videos related to an unforgettable experience such as travels, graduations, and weddings into an interactive narrative stored in the cloud that can be accessed by computers, smartphones, tablets and smart TVs for the client's lifetime. In order to deliver that it is used an innovative process that combines software intelligence and technology with a qualified team of creative editing. The files are analyzed with pattern recognition tools in images, videos, and texts and are organized by a Big Data algorithm, for transferring to the editing team a product that only needs human touches and details accuracy. The software's efficiency reduces the editing time, and the usage of files made by the users themselves eliminates the costs of capturing the media, allowing the delivery of a high-quality product at a much affordable price. By that, thousands of people that didn't have the opportunity to register the most special experiences of their lives with the quality they deserve are now able to do so.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

Immersive Memories will be the first platform to combine advanced technology with creative editing for personal records to be developed in the world. The concept of using software intelligence to optimize a complex creative process, which has always taken months to be done, results in a tremendous technological impact and leverages the entire creative economy industry. The significant innovation proposed by Imersa is in its processes, that intends to combine advanced technology like pattern recognition, big data, cloud computing, and machine learning to a team composed by specialists in creative editing. Because of this, even though the platform being all structured as software, it is much more difficult to replicate it than typical software applications. Much of the value proposition of the platform is based on the efficiency and artificial intelligence of its backend, which can’t be seen by any users. As well as the entire process of capturing, qualifying and training creative professionals, done in partnership with the university itself, which requires time, dedication and connections. All these factors can hardly be replicated with the efficiency that Imersa proposes, thus increasing the entry barriers for other competitors.