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Conversation
Highlights
Welcome to another episode of Category Visionaries, the show that explores the future of tech with innovative B2B founders. In today’s episode, we’re speaking with David King Lassman, Founder of GIGXR, an extended reality platform that has raised nearly $8 million in funding.
Key topics discussed in this episode:
- David’s background as a serial entrepreneur, starting his first business distributing EdTech software on floppy disks and learning the importance of building technology that delivers value against industry challenges
- The inspirational story of James Dyson, a fellow Brit who persevered through adversity and believed in his vision, ultimately achieving great success
- The valuable insights from “Value Proposition Design” by Alex Osterwalder, a book that provides processes and techniques for designing products that meet customer needs
- The serendipitous origins of GIGXR, born from the acquisition of an immersive learning division incubated at Pearson in collaboration with Microsoft, and the vision to build a platform for mixed reality education, particularly in healthcare
- The benefits of mixed reality over virtual reality, including the ability to maintain a connection to the physical world, avoid disorientation and nausea, and enable accessible learning experiences
- The challenges and opportunities of selling a nascent technology like mixed reality, leveraging remote demos and in-person experiences to showcase the value and potential impact
- The impact of the COVID-19 pandemic on accelerating the adoption of remote learning and simulation-based training, turning a potential headwind into a tailwind for GIGXR
- The impressive traction, with a 97% retention rate among legacy customers, expanding licenses and applications, and a global presence spanning four continents
- The strategic focus on healthcare as a substantial market with tremendous suitability for mixed reality training, and the ambition to become the de facto standard globally
- The long-term vision of driving learning outcomes, raising standards in less privileged areas, and potentially saving lives through improved healthcare training
Actionable
Takeaways
Identify Industry Pain Points and Deliver Value:
Seek out challenges within your target industry that can be effectively addressed by your technology solution, focusing on delivering clear and demonstrable value to customers.
Leverage Remote Demos and In-Person Experiences:
When selling a nascent technology, use a combination of remote demos and in-person experiences to showcase the value and potential impact of your product, helping customers visualize how it can be integrated into their workflows.
Adapt to Market Disruptions:
Be prepared to pivot and adapt your strategy in the face of market disruptions, such as the COVID-19 pandemic, identifying opportunities to turn potential headwinds into tailwinds for your business.
Maintain Focus While Keeping an Eye on the Future:
While it's tempting to pursue multiple verticals, maintain a laser focus on your core market to avoid spreading yourself too thin. However, keep an eye on emerging opportunities and position your platform to be agile and adaptable as the market evolves.
Strive for Meaningful Impact:
Beyond financial success, aim to drive meaningful outcomes and create a lasting impact in your industry. In the case of healthcare, this could mean improving learning outcomes, raising standards in underserved areas, and ultimately contributing to better patient care and potentially saving lives.
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