NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE:
N29), an emerging leader in augmented reality (AR) for eCommerce,
AR learning applications, and AR-enhanced video conferencing and
virtual events is pleased to announce it has hired SAP executive
Eugen Winschel as Chief Operating Officer. Eugen was a Global Vice
President business Leader at SAP, an expert in Artificial
Intelligence (AI) and Next-Gen UX developer as well as innovative
entrepreneur and intrapreneur.
Winschel has an extensive track record of proven success. In his
previous positions with SAP as Global Vice President, he completely
transformed the size and experience for global and regional events,
digitized the physical world with IoT technology, delivered the
first Enterprise Artificial Intelligence solution by using Machine
Learning and Natural Language Processing, and ran multiple
corporate-wide growth and efficiency initiatives.
In his new role with NexTech, Winschel will be responsible for
scaling the company from a 70 person organization into a global
powerhouse of 700 people or more, for next-generation augmented
reality and video conferencing solutions. With the hiring of
Winschel, NexTech expands its organizational capabilities as it
rapidly grows and scales from being a visionary startup.
Winschel brings to NexTech extensive global leadership
experience in software development for intelligent enterprise
solutions and driving transformative innovation and growth.
Winschel previously spent 18 years leading global and regional
efforts for product development, sales and marketing at SAP, the
market leader in enterprise application software. During his time
with SAP, Winschel was recognized as an exceptionally innovative
intrapreneur, driving cutting-edge products, as well as highly
complex strategic, operational and financial initiatives.
Eugen Winschel, incoming Chief Operating Officer of NexTech AR
comments “NexTech is one of the most exciting and innovative
companies in the augmented reality space with a novel visionary
approach. I was impressed with how their focus on evolving the
technology is perfectly synchronized with their business acumen and
ability to see how AR can improve business interactions”. He
continues “People around the globe have shifted to a heavy reliance
on virtual connectivity and the AR products that NexTech is
creating will change how people do business. Evan Gappelberg has
created a unique foundation on which to build the company,
resulting in a transformational platform, immensely talented
colleagues and limitless potential. It is a personal honor to join
Evan and the team to take NexTech to the next level and
beyond.”
Evan Gappelberg, CEO of NexTech AR comments, “The NexTech board
is thrilled to have Eugen join the company, and I am beyond excited
to have him join the NexTech family at this pivotal time of our
rapid growth stage. Bringing on an experienced and innovative
technology executive is critical to our future growth. In addition
to his 18 years of worldwide experience at SAP, he comes with an
unique combination of business and technical savvy and a great
understanding for financial success. He consistently exceeds
expectations in all areas and I'm confident that he will add
tremendous value to the team from day one.”
During his 18 year career at SAP Mr Winschel’s leadership
responsibilities included:
- Global Vice President, Product Management for User Experience –
Intelligent Enterprise Group
- Global Vice President, Head of Product Management for
Enterprise Artificial Intelligence
- Global Vice President, Head of Digital Business
Engineering
- Global Chief Operating Officer (COO) Worldwide Marketing and
Communications Regions
- Regional Chief Operating Officer (COO) Middle and Eastern
Europe Region, SAP Marketing
- Executive Director Office of the Chief Marketing Officer
- Director Solution Management
- Head of Business Innovation & Operations Industry
Solutions
- Program Manager Business Innovation Industry Solutions
Pursuant to his appointment, Mr. Winschel will be granted
500,000 stock options with an exercise price of $5.88 for a period
of three years. The Company also granted 50,000 incentive stock
options to a consultant priced at $5.88 for a period of three
years.
About NexTech ARNexTech is one of the leaders
in the rapidly growing Augmented Reality
market estimated to grow from USD $10.7B in 2019 and
projected to reach USD $72.7B by 2024 according to Markets &
Markets Research; it is expected to grow at a CAGR of 46.6% from
2019 to 2024.
The company is pursuing four verticals:
InfernoAR: An advanced Augmented Reality
and Video Learning Experience Platform for Events, is a SaaS video
platform that integrates Interactive Video, Artificial Intelligence
and Augmented Reality in one secure platform to allow enterprises
the ability to create the world’s most engaging virtual event
management and learning experiences. Automated closed captions and
translations to over 64 languages. According to Grandview Research
the global virtual events market in 2020 is $90B and expected to
reach more than $400B by 2027, growing at a 23% CAGR. With
NexTech’s InfernoAR platform having augmented reality, AI,
end-to-end encryption and built in language translation for 64
languages, the company is well positioned to rapidly take market
share as the growth accelerates globally.
ARitize™ For eCommerce: The company launched
its SaaS platform for webAR in eCommerce early in 2019. NexTech has
a ‘full funnel’ end-to-end eCommerce solution for the AR industry
including its Aritize360 app for 3D product capture, 3D/AR ads, its
Aritize white label app it’s ‘Try it On’ technology for online
apparel, 3D and 360-degree product views, and ‘one click buy’.
ARitize™ 3D/AR Advertising Platform: Launched
in Q1 2020 the ad platform will be the industry's first end-to-end
solution whereby the company will leverage its 3D asset creation
into 3D/AR ads. In 2019, according to IDC, global advertising spend
will be about $725 billion.
ARitize™ Hollywood Studios: The studio is in
development producing immersive content using 360 video, and
augmented reality as the primary display platform.
To learn more, please follow us on Twitter,
YouTube, Instagram, LinkedIn, and Facebook, or visit our website:
https://www.nextechar.com.
On behalf of the Board of NexTech AR Solutions
Corp. “Evan Gappelberg” CEO and Director
For further information, please contact:
Evan GappelbergChief Executive Officerinfo@nextechar.com
The CSE has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Certain information contained herein may
constitute “forward-looking information” under Canadian securities
legislation. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as, “will
be”, “looking forward” or variations of such words and phrases or
statements that certain actions, events or results “will” occur.
Forward-looking statements regarding the Company increasing
investors awareness are based on the Company’s estimates and are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, levels of activity, performance
or achievements of NexTech to be materially different from those
expressed or implied by such forward-looking statements or
forward-looking information, including capital expenditures and
other costs. There can be no assurance that such statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements and forward-looking information. NexTech
will not update any forward-looking statements or forward-looking
information that are incorporated by reference herein, except as
required by applicable securities laws.
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