Is it a cure? It provides respite from the symptoms but, sadly, it's not a cure.
Before embarking on the project, Cole, Garnett and Green visited Huntington House - a progressive care home for those living with Dementia - to see how patients would respond to holding cardboard VR sets to their faces.
They were extremely pleased with the results which demonstrated that none of the patients were intimidated or distressed by a trial of the equipment.
Better still, some were so engaged by the experience that they began speaking joyfully about their early memories.
How much are they hoping to raise? The Kickstarter aims to raise £35,000 to film the Coronation street party experience.
That doesn't seem a lot. It wouldn't be nearly enough for a project like this if it weren't for the people who've pledged their time, expertise and equipment for free.
Both Thomas Thomas Films and MPC London have given the project their backing which is an enormous boon.
How can I help? With less than half the money raised at the time of writing, the most effective contribution you can make is financial.
As with all KickStarter projects, The Wayback will not receive any of the money unless the full amount is pledged so please support this amazing endeavour by giving what you can.
You can find out more about the project and discover what rewards are available to contributors by clicking on this link.
Jason Stone of DAVID REVIEWS will be talking to some of those behind this project at the next CraftWorks event on 27th February.