Games developer Belief in the Solution Ltd, BITS, of Golders Green, London, is looking to accelerate its growth rate by diversifying into hardware. It has developed a virtual reality head-set designed for use with iAPX-86-based personal computers using processors from the 80386 up, with VGA and 4Mb and is manufacturing it in China in a joint venture with a Hong Kong company, Watary Plc, part of the Malaysian company, known as Multiple or Magnum Bhd. Watary, with turnover of about $45m, makes simple electronic games and novelties and has two factories in China. Both companies will fund the distribution of the head-set, provisionally known as the Cybervision VR1. It is expected to sell for about UKP200 and will be available first quarter of next year. Cybervision VR1 uses a single 95,000 pixel 2.9 colour screen and promises a virtual reality effect for any game with three-dimensional capabilities. The software will come with set-ups for certain games and will come bundled with two Belief software titles Virtual World and Virtroids or VR Gunner – the name has not been finalised yet. Belief chose one rather than the two screens favoured by other head-set manufacturers such as Virtuality Plc. The the cost for two small screens is unattractive for a consumer product. And furthermore, the low resolution possible at affordable prices for two screens generates poor effects. The company had turnover last year of UKP1.7m and pre-tax profit of UKP170,000. Belief is also looking for additional capital of around UKP2.5m from venture capital companies and private investors to gear up for the product launch and develop other strategic partnerships, and it is willing to hand over some equity.
