The Appalachia region, despite its true history of entrepreneurship, is not often regarded as a “hotbed” of cutting-edge technology. The truth of the region is that self-reliance, invention, and entrepreneurship are old traditions of the Appalachians. Today, that spirit of innovation manifests itself through technology startups.
The North Mississippi Angel Fund, an AIA affiliated micro-venture fund, identified Lokaki, Inc. as a growth company of great interest. Lobaki develops educational curriculum using virtual and augmented reality (collectively “XR”) and creates XR laboratories for in the K – 12 and collegiate markets, for which they have several current clients. XR has been demonstrated to meaningfully enhance understanding and the retention of knowledge in an educational setting. PWC in its report, How Virtual Reality is Redefining Soft Skills Training, documents VR’s ability to instill confidence (35% improvement), focus (4 times more focused), speed of learning (1.5 times faster), and connection (2.3 times more connected) over traditional e-learning and even more significantly over classroom learning. Lobaki’s value is unique and cutting-edge use of XR to enhance education in a world that has suddenly, and irrevocably, embraced virtual/distance learning.
Lobaki has a strong Leadership team with a demonstrated understanding of the sales process for XR products and services. The XR market was $7.9B in 2018 and is projected to grow at compounded annual growth rate (‘CAGR”) of 35% to $44B by 2024. Virtual reality gaming is projected to be a $12B+ market in 2020 alone. XR will impact the way everyone accesses digital content in the coming years. And, Lobaki is leading the way in the educational space with significant application in other markets including defense and corporate training.
Lobaki has a robust pipeline of clients and a number of ongoing projects. The company will use the invested capital to expand its ranks and revenue. Lobaki is creating a new market for XR educational curriculum that promises to be a catalyst for job growth in Jackson and bring additional recognition of innovation and entrepreneurship to the Southern Appalachian region. It is firmly rooted in Jackson, MS with the explicit intention of remaining in the community that fostered its formation and growth.