The use and adoption of VR solutions have increased rapidly due to recent technological developments. Over the last years, there have been many initiatives to develop and adopt VR in many different fields, including education and business. This paper describes the state-of-the-art of VR use in Cyprus and Finland, focusing on the use of VR technology in Higher Education (HE) Institutions and in Small to Medium Enterprises (SME). Interview sessions were conducted with 16 expert people from Higher Education and business to firstly identify the key technologies available and secondly to analyze the opportunities, strengths, challenges, and training needs concerning the adoption of VR. The analysis revealed essential considerations and valuable insights about the development, adoption, and promotion of VR solutions in Higher Education and the business sector.
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