This past fall, the IBM Academy of Technology held two major events in Second Life. The first was a specific Virtual World Conference for over 200 members. Based on the success and the savings, the Academy also decided to host part of the general meeting for the Academy the next month. Chairman Emeritus Irving Wladawsky-Berger has already described the experience and reported that 75% of the second event’s participants thought it was successful. Today, though, IBM and Linden Lab released a new case study looking at both events and their successes, including the fact that the first event saved $320,000.

“Attendees raved about the conference and thoroughly enjoyed the experience,” explains the report. “With an initial investment of roughly $80,000, IBM estimates that they saved over $250,000 in travel and venue costs and more than $150,000 in additional productivity gains (since participants were already at their computers and could dive back into work immediately) for a total of $320,000 saved (when compared to the potential expense if the event had been held in the physical world).” [Case study PDF]

For more information on the ways virtual worlds are changing the way we collaborate, check out our upcoming 3D Training, Learning, and Collaboration (3D TLC) Conference taking place April 20-21, 2009 in Washington, DC. The program was just announced today!