oVRcome Seeking Australian Investors for VR Startup
In a bid to broaden the horizons of mental health treatment, the Kiwi startup oVRcome is venturing into Australian territories. The mastermind behind the innovative virtual reality software is New Zealand entrepreneur Adam Hutchinson, who has dedicated his venture to treating anxiety disorders and phobias using VR Therapy. In the hopes of procuring additional funding, he set pitched to investors at the Digital Health Festival in Melbourne on June 6th.
The Innovative Combination of VR Therapy and CBT
oVRcome is not just another name in the realm of VR startups; it stands as a beacon of innovation. The software treats patients using a blend of a VR headset, a smartphone app treatment program, and cognitive behavioural therapy (CBT) – a combination that is a first in its field. The company plans to use the funds procured for further product development, including the launch of a B2B dashboard and the onboarding of therapists for in-clinic use.
Clinical Trials Confirm the Efficacy of oVRcome
Clinical trials conducted in association with Otago University vouch for the efficiency of the treatment program. In a world where proof of efficacy is crucial, oVRcome stands tall with its product having demonstrated effectiveness in treating phobias like fear of needles, flying, spiders, heights, and dogs. Further trials are underway, with Otago University continuing as a strong research partner.
Revolutionizing Mental Health Treatment: A Word from the Founder
“In a world where technology continues to push boundaries, our aim is to revolutionize mental health treatment,” asserts Adam. He believes that oVRcome’s immersive and interactive experiences are set to make a lasting impact on the well-being of individuals worldwide, addressing anxiety and phobias effectively. “Anxiety disorders and phobias affect millions of people globally, significantly impacting their daily lives. Traditional treatment methods might have involved exposure therapy, where patients gradually confront their fears. However, this process can be time-consuming, expensive, and challenging to replicate in real-life scenarios,” he adds.
Expanding Reach: From Traditional Therapy to Corporate Wellness
Adam further explains how his product stands out in the market. “oVRcome enables a patient to access treatment immediately, taking control of their treatment,” he asserts. With an approach that allows users to expose themselves to challenging situations at their own pace, oVRcome offers a personalized and adaptive approach to therapy. This, in turn, enhances the effectiveness of therapy, leading to improved outcomes and a better quality of life for patients.
oVRcome’s scalable VR platform extends its benefits beyond traditional therapy settings. Educational institutions like schools and universities, and corporate wellness programs, can leverage this technology to address stress, anxiety, and phobias.
Key Achievements and Milestones of oVRcome
Since its launch, oVRcome has achieved several significant milestones. The company was honored with the Trans-Tasman Innovation & Growth Award at the Australia New Zealand Leadership Forum in July 2022, and it triumphed at the Australian National Telehealth Conference startup pitch in Sydney in April 2023. Moreover, Whakarongorau Aoetearoa (New Zealand Telehealth Services) announced an investment in oVRcome in October 2022.
Conclusion
The journey of oVRcome, from its inception to its ambitious venture into Australian territory, showcases the immense potential of virtual reality in mental health treatment. By offering a revolutionary, efficient, and accessible solution to individuals suffering from anxiety disorders and phobias, oVRcome is set to change the face of mental health therapy.
What are your thoughts on the role of technology, especially VR, in mental health treatment? Have you or anyone you know used VR-based therapeutic tools? Let us know in the comments below. Your experiences and perspectives matter to us.
