A virtual reality company based in Brazil has announced its intention to install a production unit, a research centre and an electronic gaming arena in Faro.The president of Motion Sphere said that the production unit, still at an embryonic stage, could involve an initial investment of €3 €3 million and the creation of 15 to 20 jobs to build 20 to 30 virtual reality spheres in year one.
"The business model involves the sale of equipment to companies, major fairs, marketing events and entertainment centres," explained Beto Facci, who hopes to make concrete progress in Faro in the next six months.
The Brazilian businessman signed a protocol of collaboration with Faro council, earlier signing a similar agreement with the University of the Algarve.
The virtual reality spheres that the company produces – which cost €80,000 to €100,000 to produce - allow for "immersive and highly realistic experiences,” as is the case with the car racing simulation equipment that is available to try, free of charge , until 8 April at Forum Algarve in Faro.
The interest in investing in Faro came from Haroldo Sato, one of the company's managers, who moved to the Algarve a year ago and contacted local entrepreneurs and the Entrepreneurship and Technology Transfer Division of the University of Algarve, to pave the way for future partnerships.
"We are bringing a seed of an innovative project that seems to have fallen on extremely fertile soil. We need support so that the seed grows," said Facci, alluding to an expansion model for the company that already has production units in Brazil and in the United States, serving the Latin America and North American markets.
The Faro unit could be the base for Europe, particularly for Spain, France, Italy, England and Germany and also for the Asian market, added Facci.
"The business model involves the sale of equipment to companies, major fairs, marketing events and entertainment centres," explained Beto Facci, who hopes to make concrete progress in Faro in the next six months.
The Brazilian businessman signed a protocol of collaboration with Faro council, earlier signing a similar agreement with the University of the Algarve.
The virtual reality spheres that the company produces – which cost €80,000 to €100,000 to produce - allow for "immersive and highly realistic experiences,” as is the case with the car racing simulation equipment that is available to try, free of charge , until 8 April at Forum Algarve in Faro.
The interest in investing in Faro came from Haroldo Sato, one of the company's managers, who moved to the Algarve a year ago and contacted local entrepreneurs and the Entrepreneurship and Technology Transfer Division of the University of Algarve, to pave the way for future partnerships.
"We are bringing a seed of an innovative project that seems to have fallen on extremely fertile soil. We need support so that the seed grows," said Facci, alluding to an expansion model for the company that already has production units in Brazil and in the United States, serving the Latin America and North American markets.
The Faro unit could be the base for Europe, particularly for Spain, France, Italy, England and Germany and also for the Asian market, added Facci.
The managers of the company spoke of "an expanded vision" for Faro, which also includes a unit for research and development of new models and virtual reality experiences at the University of Algarve and for the construction of a gaming and simulation arena with capacity for several players and the holding of official championships.
The next step will be to study, together with public partners, the possibility of accessing Community funds or finding investment funds interested in investing in these projects.
The next step will be to study, together with public partners, the possibility of accessing Community funds or finding investment funds interested in investing in these projects.
Comments
Otherwise, seems like a good idea to choose Algarve for a research centre as there are great young minds in the University of Algarve.
An electronic gaming arena, would be an excellent facility in the Algarve as a lot of young teenagers holiday here with their parents and this might provide much needed lite relief for parents from their groaning teenagers.