Eventopedia.com works on a TripAdvisor-style model, listing venues and suppliers in London and allowing ‘non-advertising based’ reviews and recommendations.
The venture is backed by a committee of senior event planners, which includes corporates from The Financial Times, Informa plc and Conde Nast.
COO of Eventopedia Alan Newton, told C&IT:"A venue's average conversion rate of enquiries is 10% and they are complaining that event planners are holding between 6-8 options as a result of not properly filtering down their venue search.
COO of Eventopedia Alan Newton, told C&IT: "In speaking to suppliers, I'm informed many agencies have a conversion ratio of less than 10% and it can be less than 1% through some online sources. I couldn't believe this disconnect, so we asked ourselves how we could use our experience and technology to make a difference and heal inefficiencies.
"When event planners [agencies or corporate] are extremely busy and they can't find the right information or venues immediately, there can be a tendency to adopt a scattergun approach, where the number of venues tried may significantly increase. This can lead to a lot of wasted time and inefficiency on the venue side"
The VSI platform will offer event planners videos of event spaces with interactive information links within the content, which could add details such as information graphics on the capacity charts or side videos on sustainable in-house catering.
The platform intends to show venues in the best light to encourage appropriate clients to arrange site visits, and expects to prevent unnecessary proposal writing.
Newton added: "Having the majority of suitable corporate venues on one system will save the planner valuable time while venue searching and cut the number of site visits required to create a shortlist of suitable options."
The first venues to feature on the interactive video website are 8 Northumberland Avenue, Westminster, and the Westminster Boating House.