Research Article
Regional Innovation System in Berlin and VR/AR Venture, Playsnak
1 Hankuk University of Foreign Studies, 2 Alliance Manchester Business School
Published: January 2019 · Vol. 23, No. 4 · pp. 133-160
DOI: https://doi.org/http://dx.doi.org/10.17287/kbr.2019.23.4.133
Full Text
Abstract
This paper draws on a case study of Berlin-based virtual reality (VR) and augmented reality (AR) venture of Playsnak. The data consist of semi-structured interviews and selected secondary data obtained from different sources. The case venture pioneers the latest VR technology in the digital age to develop VR/AR business for the global marketplace. Specifically, the paper details the characteristics of the VR/AR industry and the regional innovation system (RIS) in Berlin, which has recently emerged as Europe’s Silicon Valley. Furthermore, it illustrates the initial funding process of the case venture and its interactions with Berlin’s RIS. The case provides strategic implications for prospective entrepreneurs as well as ventures in the IT sector who wish to pursue internationalization in the era of the fourth industrial revolution.
