Press>> For photos, logos and other print-quality press material, see the Photos & Videos page Media Contact:Mr. Aki Kanerva Investment for the World Conquest of an Air Guitar Game (Feb 6, 2007)Finnish Industry Investment Ltd. and a private investor have invested a total of EUR 130.000 to Virtual Air Guitar Company Oy, a console game developer. The technology company uses new interface technologies to provide new social experiences. The first product is the Virtual Air Guitar console game, where the player plays air guitar and controls the music with the help of computer vision technology. The Virtual Air Guitar Company promises its customers instant rockstar experiences: the game will help you release your inner rockstar, be idolized, and have fun. This console game is social and non-violent, and does not require a real guitar or any musical skills. "With this investment, we aim to develop a prototype of the game, and through that a global distribution deal with an international publisher," says Aki Kanerva, Managing Director of the Virtual Air Guitar Company. "This is an opportunity to build a software product based on the application of high technology for the global consumer market. The new product concept is refreshingly different, which is an excellent competitive advantage," explains Pirjo Kekäläinen-Torvinen, Chairwoman of the Board of Kalliohanka Oy. The private investor also recognizes the business incubator Technopolis Ventures, whose mentoring connections helped connect the company and herself: "Connections to more experienced entrepreneurs and sources of financing are very beneficial for start-ups." "There are more and more computer vision based games for simulating tennis, basketball etc. The console game market is growing, and equals the music industry as measured in euros," comments Investment Manager Antti Kummu on Finnish Industry Investment's interest in the air guitar company. Virtual Air Guitar Company Oy, based in Espoo, Finland, has been founded in 2006, and currently employs seven people. Finnish Industry Investment Ltd. is a government-owned investment company. The company invests the proceeds accrued from the privatisation of state-owned companies in promoting the growth and internationalisation of Finnish businesses. Finnish Industry Investment invests together with private investors. The investments are spread widely across the country and divided among many sectors. FII's investments and investment commitments amount to some EUR 360 million. Further information: Aki Kanerva, Virtual Air Guitar Company Oy Pirjo Kekäläinen-Torvinen, investor Antti Kummu, Investment Manager, Finnish Industry Investment Ltd. Virtual Air Guitar Rocks Venture Cup (May 30, 2006)Virtual Air Guitar Company Oy has won the 25 000 euro first prize out of 342 entrants in the Venture Cup business plan competition in Finland. The company sells video games that allow players to experience the fun and joy in producing and performing music. Their first product is a console game to be released for the Christmas 2007 market, and later the portfolio will be expanded with other game applications. The Virtual Air Guitar detects playing gestures with a camera and interprets them into music. The Virtual Air Guitar Company was founded in February 2006, and in a short time has gathered significant media attention with their innovative combination of gesture recognition and music control technologies into a fun game concept. The technology and business has been reported by the BBC, Discovery Channel, National Geographic Channel and a host of other TV channels, radio stations and papers of the company's first product - the Virtual Air Guitar. The Virtual Air Guitar allows anyone to play and perform like a rock star. The research began in the TKK Helsinki University of Technology's Telecommunications Software and Multimedia Laboratory, and was refined into a business plan through TKK's Innovation Centre, Tekes, and finally the Technopolis Ventures Oy business incubator. Venture Cup is an open business plan competition in three stages. Anyone can take part in it at any of the three stages, and there are no limits on fields of business. The competition's goal is to increase the growth of start-ups in Finland, but founding a company is not required of the contestants. Venture Cup is organized in cooperation with universities and institutes, technology centres and business incubators. The main supporters in 2005-2006 were the Ministry of Trade and Industry, Tekes and McKinsey&Company. More information: www.venturecup.fi Technopolis Ventures Oy is the largest business incubator for hi-tech and know-how companies in Finland. Its services are used by 150 companies in the capital area, Oulu and Lappeenranta. Its mission is simple but important: to discover the best know-how and technology based business ideas and to help transform them into international success stories. More information: www.technopolis.fi/ventures Further information: |
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