VRAI Simulation win High Growth Award
Virtual reality (VR) simulation training company VRAI have won the Muckle ScaleUP High Growth Award from the Startup Awards North East. VRAI are based in Gateshead’s Proto centre and combine virtual reality & artificial intelligence to provide data driven simulation solutions to the aerospace, defence and offshore wind industries.
The award recognises VRAI’s successful establishment in the region working with high profile customers such as MoD’s Defence & Security Accelerator, RAF X in Leeming & partnering with Durham University on an Offshore Wind Growth Partnership.
The High Growth Award was presented to VRAI by Alex Craig, CEO, Muckle and highlights VRAI’s success to date. VRAI intend to continue their growth and are currently raising £2m in investment to fund that. This investment will go to creating up to 20 new high value jobs in the North East in the next 18 months focussed on data engineering, data science and software development roles.
VRAI also hope to inspire other startups to follow their example in adopting a triple bottom line, that is they measure their success not only on financial metrics, but also on people and planet metrics. VRAI have adopted a B Corporation company constitution and show leadership in diversity, inclusion and sustainability in business.
Startup Awards North East shines a spotlight, celebrates, and connects ambitious, early stage founders to life changing opportunities and experiences. A collaboration between all 5 regional universities, enterprise agencies and the region’s business ecosystem, the awards champion inclusive entrepreneurship and ambitious early stage founders so that sustainable startups and jobs are created for North East communities.
Pat O’Connor, co-founder and managing director of VRAI commented on the Award saying:
“We are proud to have received the ScaleUP High Growth Award from the Startup Awards North East. We are committed to the continued development of our technology and talent in the region. We believe that the North East has a great opportunity to be a leader for data innovation in the UK, leveraging the great local universities, innovative SMEs and the National Innovation Centre for Data (NICD).
Charlotte Windebank, MD & Founder of FIRST said,
“Since 2014 the North East has had the opportunity to access 437 million of EU funding to support local SMEs and individuals to develop skills and grow either personally or through their business efforts. Many applicants from Startup Awards North East have gone on to access this funding through our incredible partners such as NEL Fund Managers and PNE.
On the flipside to this, because the awards were digital this year, we can now share the incredible talent within the region on a global stage. We have never done this before and are excited to see what inward investment this attracts both nationally and internationally to our region.”
About FIRST
FIRST is an accredited learning and development agency specialising in leadership experiences and progression skills for young people, early stage founders and professionals. Working alongside education, local authorities, business and community organisations, we seek to respond to the region’s high unemployment and low business startup rates by connecting, celebrating and empowering individuals to explore ideas and opportunities within employment, entrepreneurship and professional development.
About VRAI:
At VRAI we create data driven VR simulation training for high hazard environments. We combine Virtual Reality & Artificial Intelligence to make simulation training more authentic, memorable and measurable.
We are focussed on helping customers in aerospace, defence and offshore wind, working with the UK RAF, Irish Defence Forces Air Corps and Army, and OEMs in the respective markets.
Our insight is that VR, as well as being a great way of presenting data to a user, is also an incredible way to capture, measure and predict performance by collecting and analysing the users performance in VR.
We believe in creating shared value for our customers, investors, employees and community by adopting the ‘Triple Bottom Line’ and the B Corporation constitution. This means our company has a legal obligation to focus not only on profit, but also on people and the planet.
Info on Startup Awards
Startup Awards North East shines a spotlight, celebrates, and connects ambitious, early stage founders to life changing opportunities and experiences. A collaboration between all 5 regional universities, enterprise agencies and the region’s business ecosystem, the awards champion inclusive entrepreneurship and ambitious early stage founders so that sustainable startups and jobs are created for North East communities.
The Awards support early stage founders at each stage of their startup journey:
- SkillUP- for people who are curious about starting up a business and want to explore ideas and opportunities but have not registered with Companies House as a sole trader or business.
- StartUP – for sole traders or registered businesses of less than three years, with a turnover of less than £50,000 and who are looking for resources to give their business a boost.
- ScaleUP – for ambitious sole traders or registered businesses of less than three years, who want to grow their business and have a turnover of over £50,000.
FIRST – www.youarefirst.co.uk
Startup Awards North East www.startupawardsne.co.uk
Media Enquiries: tessbutler@ruddynice.com
Source: RealWire