The Virtual Eye

Location,City : India / New Delhi

Max Target : $ 1200000

Equity on offer : 30 %

Min Target : $ 800000

Equity on offer : 18 %

Industry :
Entertainment & leisure

Investment Round :
Seed

Stage :
Idea

Website : Visit

Summary

Due to the outbreak of COVID 19 worldwide, travelers are bound to stay back and cancel their travel plan suffering huge cancellation charges. Even after the lock down and travel ban is lifted, travelers will be hesitant to travel due to the fear of Virus spread, downfall in the economic situation, Increased rates of hotel, flights etc due to limited inventory.

We therefore are planning to offer a 360 degree virtual travel experience for the travelers, which they can enjoy from any part of the world by paying a small Subscription fee. This will also cover those people who wish to travel but due to the budget or time limitation keep canceling/postponing their plans.

It will not be just a video tour of any monument. We will be creating complete itinerary of most famous tours to different destination to give a feel of actual travelling experience. This project will aim at "Low price, High Volume, Higher Revenue". We will be starting it by covering India and later depending on the demand we will cover worldwide destinations.

Notable Achievements

  • Accessible from any part of the World.
  • First Mover Advantage.
  • First of its Kind Project.
  • Affordable to every class of budget.

Pitch Video

The Business

It was just an idea to start with but when we started doing R&D on it, we found it is feasible and have great opportunity as the outbreak of COVID 19 completely destroyed the Tourism industry and people have no choice left but to stay back in their houses. But this however increased the usage of OTT platform, social media and internet to keep themselves busy at home and maintaining social distance.

Even after the travel ban is lifted, people will still be hesitant to go out to keep themselves safe. To sum up, it will be a whole new world again. With economy badly hit worldwide, people will now start to save more and spend minimum possible. In such time, if we can provide a project where a customer will be paying a much lesser amount and would be able to enjoy different tours in particular segment, the business will be welcomed very well worldwide.

The Market

Based on Oxford Economics Global Travel Study 2017, The value of Global Tourism is $5.29 Trillion in 2017 with a growth rate of 41.9% in previous 10 years.

The Global OTT Market Size was valued @ $97.43 billion in 2017. Projected to Reach $332.52 billion, with a CAGR @ 16.7%

With that Bandwidth of Market to cover, we have very bright chances to grow since we will be providing a dedicated OTT platform to the Tourism Market.

Apart from this we can also capture the School/Colleges/Travel Broadcasting Channels for broadcasting of our programs and receive revenue.


Objective/Future (Use of funds)

We are taking the seed fund to start our project. The money will be used in Setting up of office, Salary for the required Personal, Setting up the Work Station, Shooting Cost, Post Production cost, Travelling Expense, Setting up OTT platform, Expenses on Documentation with Government, Government Permission fee etc.

Setting Up Office, Salary of Staff, Government Permission Fee, Travelling Expense, Purchase of Work Station, Shooting.

The Team

Lalit Bisht - Founder

Started working at a very young age in tourism industry and have successfully completed more than 17 years learning about all the aspects. My journey through the Career path has evolved many experience in my life pertaining to the various destinations and facets of Tourism industry, but I still have to learn a lot. I always strive towards finding the good opportunity to learn and excel my skills more effectively for the overall development of the organisation and industry. It gave me the opportunity to visit whole of India, Sri Lanka, Nepal, Bhutan, Singapore & Malaysia and understand the ground knowledge of various destinations. Now I want to start an OTT platform dedicated to Tourism only where travelers can enjoy the different destination virtually like they are travelling in real.

Amit Rana - Co-Founder & IT head

Amit has worked with different IT companies and on different projects. He has developed many applications which are widely used by School and educational institutions. He is currently working on another project but he will join us , once we are ready to go. He is most fit for the position as he knows the technicalities of IT sector and is well verse with software development also.

Exit Strategy

Its a dream project and we want it to grow to the maximum and reach every corner of the world. However it is just the starting and we are looking for seed investment so that we can build a strong team which can realize our dream. We have created a module for the investor, which will ease it down for them to enter and exit from the project with mutual consent. However all this can be discussed better on the table.}

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