Tim Angel wants to continue to roll out his digital training platform across the globe this year and has eyes on the UK, US and Latin America.
Developed four years ago by Angel’s South Australia-based software company Cortex Interactive, LAAMP (learning and assessment management platform) is already operating in seven countries, primarily via its key contract with mining contractor Thiess.
LAAMP combines mobile, virtual reality, augmented reality and mixed reality technologies to deliver immersive learning and training. It was developed to help organisations induct, train, support and manage distributed teams.
Angel, who is travelling to the UK in June to scope market opportunities, says this year’s focus is also on product development and industry partnerships.
His general manager, Beau Rybajlak, travelled to Perumin last year.
The company was currently in talks with a number of multi-nationals, Angel said.
“The total addressable market is extremely large as we are not restricted by location or sector,” he says.
“The mining sector alone is a multi-billion-dollar industry and we have a strong focus in this area.
“We also aim to capture other markets such as energy, resources, health, government and manufacturing.”
Angel is targeting “more than $10 million in revenue within the next four years”. He said at the end of 2022 the company had “delivered more than seven million training courses with zero lost records across numerous sectors and industries, all with a digital audit trail for a dispersed and remote environment”.
He said the SaaS (software-as-a-service) product was “modernising” traditional practices, and replacing redundant paper records.
“Many businesses across various industries are recognising the need to digitise their operations and adopt new technologies to stay competitive and improve their efficiency,” Angel said.
“We are exploring how AI can be used to personalise learning experiences for individuals, based on their learning style, preferences, and past performance as well as identifying skill gaps and recommending relevant training programs to address those gaps.”
Angel founded the company in 2018 after working on various mine sites across Australia and seeing a gap in the way learning and teaching were being delivered.
“Although starting a business is challenging, entrepreneurship was a natural step for me as I started my first business right after leaving university,” he said.
“I saw a need in the market for a more effective and efficient approach to induction, training and assessments which led me to start the business.”
LAAMP was recognised as the 2023 South Australian Innovator of Year as part of CORE Innovation Hub’s Hot 30 awards.