Tenants & Success Stories

Virtual Educational Resources Network, Inc. (VERNET)
Case Study VERNET-VITEC2 Information

Idea Stage
Compared to past performance of written text, set classroom hours and limited geographic locations in the educational world, VERNET was interested in providing innovative techniques to bring a multi-media and a virtual experience to students and educators anytime, anywhere. The challenge was to provide CD-ROM and web-based educational solutions targeted at the U.S. kindergarten through high school (“K-12”) classroom and the home. We believed that technology is able to increase student achievement by linking parents to the learning process.

Pre-VITEC2 Stage
The current storage media and data compression techniques severely limited the size and thus versatility of educational media that can be transmitted or stored in single media, such as CD ROMs and DVDs. Increasingly, there was a need to include text, color pictures, audio and motion video for didactic presentations. Educators need to carry sets of CD’s for presentations involving a single subject. In 2000 under the auspices of the Puerto Rico Industrial Development Corporation (PRIDCO) with a $750,000.00 R&D incentive, we started this Research and Development stage.

We investigated and developed a new multimedia compression method, mechanism or algorithm to package Education Software in High Density Media. This was needed so high quality multimedia mechanisms, like high definition video, interactive video, audio, 3D graphics, and animations could be incorporated in the software packages to enrich and capture the attention of today’s and tomorrow’s students. If these technologies are compressed, they require less hardware requirements, and facilitate its use in regular CD-ROMs and personal computers, Local Area Networks, Internet and schools intranets applications, and Distance Learning applications.

VITEC2 Stage
VITEC2 promoted exchanges and cooperative initiatives between UPRM and our company in the areas of research, development, and design, human development, education and instructional interchange, and interaction between the two institutions. Also interdisciplinary communication, cooperation, and collaboration in understanding and solving software design and development challenges, and initiated and conducted a joint program for collecting, evaluating and sharing technology information in software systems design. One key element was the collaboration of UPRM faculty and students with VERNET Software and Multimedia Design and Development Center personnel. The excellent location, low rental cost, strong communications infrastructure, and other facilities are the perfect environment for high-tech businesses. As an incubator, VITEC2 was a catalytic for our company to succeed in this competitive and innovative industry. Post-VITEC2 Stage

Today Virtual Educational Resources Network (“VERNET”) is a provider of curriculum-based educational software. The company provides CD-ROM and web-based educational solutions targeted at the U.S. kindergarten through high school (“K-12”) classroom and the home, and Latin America. VERNET’s courseware is written by a staff that includes former and present K-12 teachers and sold through distributors familiar with the educational market to the department of education. Innovation, development of new educational software products is the engine that provides a sustained competitive advantage to VERNET.

VERNET has been the recipient of numerous awards and favorable press coverage including the University of Puerto Rico – Engineering Campus in Mayagüez. The Puerto Rico Industrial Development Corporation (PRIDCO) awarded VERNET its annual “Innovation Award” among nine nominated companies in 2000. The US Department Of Commerce, through the local Asociación de Productos Puertorriqueños awarded VERNET the “Innovation Award on Educational Technology” in its annual awards banquet in 2001. Last year, VERNET received the Software Quality Award from the Asociación de Productos de Puerto Rico. VERNET is a standing member of the Science and Technology Committee led by the Vice President of the House of Representatives in Puerto Rico.

Recently, VERNET entered into a contractual strategic agreement with Riverdeep the largest educational software company in the world. VERNET will localize the Riverdeep interactive curriculum products, have exclusive rights to the sale in Puerto Rico, will team with Riverdeep and participate in royalties of sales throughout the world. Some of the products are: K-12 Math - Destination Series, K-3 Reading - Destination Series, Science - Galaxy (Grade K-5), Science - Logal, Edmark Early Learning and The Learning Company - School Rights. VERNET now distributes on an exclusive basis Edi Cinco, Zeta Multimedia, ITP. It has a non-exclusive agreement for the rest of the software in PR.

The Company through its insights of the local market and its unique market position has established a significant presence in all public schools in Puerto Rico (1540 Schools) and in every kindergarten through 3rd grade classroom with its first curriculum-based software product. Using this broad client base as a platform, the Company is positioned to expand its presence with more than eight new products this school year. VERNET’s goal is to become the leading provider of Web-based Spanish educational solutions for the U.S. and Latin America K-12 market. We started with three initial employees and have successfully grown to 30 including contractors and we expect to expand operations and grow from 60 to 100 employees during this year.