ADB Sandbox Opportunity: Increasing Financial Literacy Through AR/VR Digital Solutions

Summary

XRGlobal (XRG) is revolutionising training through an immersive virtual reality (VR), augmented reality (AR) and mixed reality (MR) learning and development platform proven to dramatically increase knowledge retention.

Name of Project [Title or name of technology solution or project(s)]

Virtual solutions for financial literacy training

Summary [Provide a brief summary of your application: why your approach is innovative and will it achieve the expected outcomes]

XRG is the first company in emerging markets to introduce VR agri and financial literacy training and has trained more than 75,000 people using VR in the last two years. The use of VR and AR in training dramatically boosts engagement and knowledge retention, significantly decreases training time and enables organisations to enforce consistent, measurable standards at scale. Internal data mirrors results of international studies such as PWC's in which VR training has been found to be 4x faster than instructor-led classroom training and with trainees being 4x more focused than e-learning peers. VR trainees are also 275% more confident to apply skills learned after training and 3.75% more emotionally connected to content than classroom learners. XRG's VR training modules are offline with data sent to clients when headsets go back online. XRG leases data-enabled headsets, via embedded SIM cards, (first of its kind) making VR multi-user experiences available in areas without WIFI coverage.

Technology Solution [Provide a summary of your technology solution. Indicate who has developed the solution and owns its IP]

XRG has two innovative self-developed training solutions; firstly training modules that can be pre -programmed into headsets and taken offline for an individualised learning experience and secondly a VR multi-user platform that enables groups to engage and participate in workshops together. The former are co-created by XRG and client subject matter experts with XRG instructional system designers that take existing curriculum and storyboard it out for internal developers to build out in VR. The latter a fully customisable, brandable virtual environment where up to 20 geographically dispersed trainees can enter through headset with bi-directional audio connectivity, browser share for live streaming video or web content for workshops, product launches, onboarding etc and teleport into virtual experiences (i.e. into a fishing booth, bank etc). With both products, the trainee can be required to do pre and post assessments with data sent back to the client.

Team Summary [Provide a summary of the proposed team supporting your application. Include details of JV partners, subcontractors or associated companies]

Between co-founders Bryan Crosswhite and Natalie Miller there is more than 45 years of combined international development, training and early stage leadership and expansion experience across emerging markets. Crosswhite has more than two decades of 3D experience and 8 years in virtual reality. Miller has had leadership roles over the last two decades in the agri, digital financial services, entrepreneurial training and health sectors. The XRG team is comprised of instructional system designers, program managers, modelers, and developers. Driven by a female co-founder, XRG has approached all of the projects undertaken with a gender lens. Engagement Manager, Ms. Natalie Miller https://www.linkedin.com/in/nataliemillerafrica/ Lead Instructional System Designer, Mr. Bryan Crosswhite https://www.linkedin.com/in/bryan-crosswhite-a387844/ Technical Team Lead, Lucas Martinic https://www.linkedin.com/in/lucas-martinic/ Developer, Mr. Carl Binneman https://www.linkedin.com/in/carl-binneman-35b

Project Plan for the Pilot [Provide estimated timescales of project implementation in calendar days. Indicate the different phases of implementation]

XRG proposes a four-phased pilot approach that takes place over 12 months, although impact metrics will be able to be extrapolated starting from month 5 or 6. For Phase one co-founders Crosswhite and Miller would travel to the Philippines to meet the main stakeholders and host a Kickoff and a Technical Meeting in-person and post trip build out a full scope of work or Inception Report. Phase two will take 60-90 days depending on content and feedback time and entail the main design and building stage of the VR mini-modules. Phase three is the training of facilitators which will take place over two days in each of two recommended locations. Phase four is proposed to take place over 6-7 months depending on numbers of trainees required but could be shortened. Reporting will be extracted immediately from when headsets sync and XRG will customise reports as necessary and support for full 12 month hardware lease (through month 17).

Total Budget [Provide cost estimate including proof of concept, equipment, software, testing and verification, logistics, etc]

Please see full budget in overall proposal attached - Total budget = $74,855

Wider Impact and Risks [Please outline any potential political, environmental, gender, social, indigenous people or technological impacts or risks of the project in the proposed location]

XRG's VR technology has been very highly received by women in particular due to the ability to do training at their own pace and in private vs group settings where some feel hesitant to fully engage and participate. Since the solo training modules are pre programmed into headsets and taken solo, there is no risk of safety or intimidation by others. The VR multi-user platform is a controlled environment where the client can determine and monitor who is in the virtual environment. Some people in rare cases feel dizzy or nauseous when experiencing VR but XRG makes every effort through the way we develop the scenes to mitigate that risk as much as possible.

Accept Sandbox terms and conditions

Yes

Incorporated in an ADB member country

Yes

Supplier registration requirements

• Business registration
• Articles of incorporation or partnership / Memorandum of association
• Audited financial statements for the last 2 years
• Official list of officers
• Legal document indicating proprietorship