The Glimpse Group Partners With The College Of Staten Island (CUNY) To Provide Immersive Technologies For Its Innovation Hub
The Glimpse Group (NASDAQ:VRAR) has entered into a two-year, mid-six figure contract with the College of Staten Island CUNY (CSI) Technology Incubator to design, deploy, and integrate immersive technologies in its new Innovation Hub. CSI received funding from New York State and Empire State Development to establish a state-of-the-art Virtual and Augmented Reality (VR/AR) Lab as part of New York State's Downtown Revitalization Initiative. The project has a total budget exceeding $3 million, supported by additional funding from the New York City Council.
The VR/AR Lab will be housed within the newly constructed Innovation Hub, offering cutting-edge equipment and technology for students and entrepreneurs, advanced instructional spaces, and collaborative workspaces. The project, to be implemented over the next two years, includes significant software licenses and services from several Glimpse subsidiary companies.
The Glimpse Group (NASDAQ:VRAR) ha stipulato un contratto biennale del valore di sei cifre medie con il Technology Incubator del College of Staten Island CUNY (CSI) per progettare, implementare e integrare tecnologie immersive nel suo nuovo Innovation Hub. CSI ha ricevuto finanziamenti da New York State e Empire State Development per creare un laboratorio di Realtà Virtuale e Aumentata (VR/AR) all'avanguardia come parte dell'Iniziativa di Rivitalizzazione del Centro di New York. Il progetto ha un budget totale superiore ai 3 milioni di dollari, supportato da ulteriori finanziamenti del Consiglio della Città di New York.
Il laboratorio VR/AR sarà ospitato all'interno del nuovo Innovation Hub, offrendo attrezzature e tecnologie all'avanguardia per studenti e imprenditori, spazi didattici avanzati e aree di lavoro collaborative. Il progetto, che sarà implementato nei prossimi due anni, include significative licenze software e servizi di diverse aziende sussidiarie di Glimpse.
The Glimpse Group (NASDAQ:VRAR) ha firmado un contrato de dos años por un monto de seis cifras medianas con el Technology Incubator del College of Staten Island CUNY (CSI) para diseñar, implementar e integrar tecnologías inmersivas en su nuevo Innovation Hub. CSI recibió fondos de New York State y Empire State Development para establecer un laboratorio de Realidad Virtual y Aumentada (VR/AR) de última generación como parte de la Iniciativa de Revitalización del Centro de Nueva York. El proyecto cuenta con un presupuesto total que supera los 3 millones de dólares, respaldado por financiamiento adicional del Concejo de Nueva York.
El laboratorio de VR/AR estará ubicado dentro del recién construido Innovation Hub, ofreciendo equipos y tecnología de vanguardia para estudiantes y emprendedores, espacios de instrucción avanzados y áreas de trabajo colaborativas. El proyecto, que se implementará en los próximos dos años, incluye licencias y servicios de software significativos de varias empresas subsidiarias de Glimpse.
The Glimpse Group (NASDAQ:VRAR)는 Staten Island CUNY (CSI) 기술 인큐베이터와 2년간의 중간 6자리 계약을 체결하여 새로운 혁신 허브에 몰입형 기술을 설계, 배치 및 통합합니다. CSI는 뉴욕 주 및 Empire State Development로부터 자금을 받아 뉴욕 주의 다운타운 재활성화 이니셔티브의 일환으로 최첨단 가상 및 증강 현실(VR/AR) 연구소를 설립했습니다. 이 프로젝트는 300만 달러를 초과하는 총 예산을 가지고 있으며, 뉴욕시 의회의 추가 자금 지원을 받고 있습니다.
VR/AR 연구소는 새롭게 구축된 혁신 허브 내에 위치하게 되며, 학생들과 기업가들을 위해 최첨단 장비와 기술, 고급 교육 공간, 협업 작업 공간을 제공합니다. 향후 2년 동안 구현될 이 프로젝트는 Glimpse의 여러 자회사로부터 상당한 소프트웨어 라이센스 및 서비스를 포함합니다.
The Glimpse Group (NASDAQ:VRAR) a signé un contrat de deux ans à six chiffres avec le Technology Incubator du College of Staten Island CUNY (CSI) pour concevoir, déployer et intégrer des technologies immersives dans son nouveau Hub d'Innovation. CSI a reçu des financements de New York State et Empire State Development pour établir un laboratoire de Réalité Virtuelle et Augmentée (VR/AR) à la pointe de la technologie dans le cadre de l'Initiative de Revitalisation du Centre de New York. Le projet dispose d'un budget total dépassant 3 millions de dollars, soutenu par un financement supplémentaire du Conseil de la Ville de New York.
Le laboratoire VR/AR sera situé dans le nouvel Innovation Hub, offrant des équipements et des technologies de pointe pour les étudiants et les entrepreneurs, des espaces pédagogiques avancés et des espaces de travail collaboratif. Le projet, qui sera mis en œuvre au cours des deux prochaines années, comprend des licences et des services logiciels significatifs de plusieurs sociétés subsidiaires de Glimpse.
The Glimpse Group (NASDAQ:VRAR) hat einen zwei Jahre laufenden Vertrag im mittleren sechsstelligen Bereich mit dem Technology Incubator des College of Staten Island CUNY (CSI) abgeschlossen, um immersive Technologien in seinem neuen Innovationszentrum zu entwerfen, bereitzustellen und zu integrieren. CSI erhielt Finanzmittel von New York State und Empire State Development, um ein hochmodernes Labor für virtuelle und erweiterte Realität (VR/AR) im Rahmen der Innenstadtrevitalisierungsinitiative des Bundesstaates New York zu etablieren. Das Projekt hat ein Gesamtbudget von über 3 Millionen Dollar, das durch zusätzliche Mittel des New Yorker Stadtparlaments unterstützt wird.
Das VR/AR-Labor wird im neu errichteten Innovationszentrum untergebracht, das modernste Ausrüstung und Technologie für Studenten und Unternehmer, fortschrittliche Unterrichtsräume und gemeinsame Arbeitsbereiche bietet. Das Projekt, das in den nächsten zwei Jahren umgesetzt wird, umfasst bedeutende Softwarelizenzen und Dienstleistungen von mehreren Tochtergesellschaften von Glimpse.
- Secured a two-year, mid-six figure contract with CSI
- Project implementation over two years, indicating steady revenue stream
- Potential for additional contracts with academic institutions
- Exposure to a $3 million+ project budget
- Opportunity to showcase Glimpse's immersive technology solutions in an educational setting
- None.
Insights
This partnership between The Glimpse Group and the College of Staten Island (CSI) represents a significant step in integrating immersive technologies into higher education. The mid-six figure contract over two years is substantial for a company of Glimpse's size, with a market cap of about
The project's total budget of over
However, investors should note that while this contract is positive news, its impact on Glimpse's overall financial performance may be given the company's small size. The success of this project could lead to similar partnerships with other educational institutions, potentially creating a new revenue stream for Glimpse in the long term.
NEW YORK, NY / ACCESSWIRE / September 24, 2024 / The Glimpse Group, Inc. ("Glimpse") (NASDAQ:VRAR) a diversified Immersive Technology platform company providing enterprise-focused Virtual Reality ("VR"), Augmented Reality ("AR") and Spatial Computing software and services, announced today that it entered into a two year, mid-six figure contract with the College of Staten Island CUNY ("CSI") Technology Incubator for the design, deployment and integration of a suite of immersive technologies in its new Innovation Hub.
CSI was awarded funding from New York State and Empire State Development to establish a state-of-the-art Virtual and Augmented Reality (VR/AR) Lab as part of New York State's Downtown Revitalization Initiative. With additional financial backing from the New York City Council, the VR/AR Lab will be housed within the newly constructed Innovation Hub, with a total project budget exceeding
Jasmine Cardona, Executive Director, Economic Development & Community Partnerships at CSI, commented: "We are thrilled to collaborate with Glimpse to integrate immersive technologies into our CSI Tech Incubator Innovation Hub, providing students with access to innovative tools that will not only enhance their academic experience but also equip them with critical skills for the future. This partnership embodies our commitment to fostering entrepreneurship, technology advancement, and community engagement, positioning our students and local entrepreneurs to thrive in an increasingly digital and immersive world."
Lyron Bentovim, President and CEO of Glimpse, commented: "Our partnership with CSI leverages our experience and expertise in immersive technologies and will leverage the work we have been doing with several academic institutions. Immersive technologies offer tremendous advantages to higher learning, and we look forward to implementing these technologies with our partner CSI for the benefit of their students, faculty and community."
About the CSI Tech Incubator:
As part of the College of Staten Island (CSI), the only public institution of higher education on Staten Island, the CSI Tech Incubator (CTI) is a driving force behind technological innovation and economic development. Established to support the Staten Island community and beyond, CTI offers education, resources, and support to foster entrepreneurship and drive growth in the rapidly evolving tech sector. Leveraging the College's resources with a vision to transform Staten Island into a leading hub for creativity, applied research, and business development. https://www.csitechincubator.com/
About The Glimpse Group, Inc.
The Glimpse Group (NASDAQ:VRAR)(FSE:9DR) is a diversified Immersive technology platform company, providing enterprise-focused Virtual Reality, Augmented Reality and Spatial Computing software & services. Glimpse's unique business model provides scale and a robust ecosystem, while simultaneously providing investors an opportunity to invest directly into this emerging industry via a diversified platform. For more information on The Glimpse Group, please visit www.theglimpsegroup.com
Safe Harbor Statement
This press release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This press release may contain certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements, if provided, are based on information available to the Company as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business. Forward-looking statements, if provided, include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "view," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts, if provided, are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, any forecasts, if provided, are entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Glimpse Contact:
Maydan Rothblum
CFO & COO
The Glimpse Group, Inc.
917-292-2685
Maydan@theglimpsegroup.com
SOURCE: The Glimpse Group, Inc.
View the original press release on accesswire.com
FAQ
What is the value and duration of the contract between The Glimpse Group (VRAR) and the College of Staten Island?
What is the total budget for the CSI Innovation Hub project that The Glimpse Group (VRAR) is involved in?
What technologies will The Glimpse Group (VRAR) provide to the College of Staten Island's Innovation Hub?
How long is the implementation period for The Glimpse Group's (VRAR) project with the College of Staten Island?
