Taiwanese tech giant launches global $100 million fund for Virtual Reality startups

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April 27, 2016 3:43 PM

The fund will be cater to all manner of VR startups, including accessories makers, content creators and, of course, apps.

HTC CEO, Cher Wang

Media reports reveal that HTC has announced the launch of a $100 million fund, Vive X, for Virtual Reality startups around the world.

According to an Innovation Village report, the program is designed to help cultivate, foster and grow the global VR ecosystem by supporting start-ups and providing them with expertise, special access to advanced VR technology, financial investment, mentorship and unmatched go-to-market support.

The fund will be cater to all manner of VR startups, including accessories makers, content creators and, of course, apps. It will gradually roll out across other global hubs in the near future but start with offices in San Francisco, Beijing and Taipei.

READ: Taiwanese tech gaint launches new One S9 smartphone

According to a statement from the company, "Vive X will offer start-ups the opportunity to be based in one of those cities for an initial growth period, during which they will have access to funding, leading VR know-how, hands-on coaching, and office space. Startups will also be invited to demo days, where leading investors will be in attendance, and to HTC’s offices for intensive training with our first-party development studios and to meet key members of the Vive engineering and management teams."

“We are very excited about gathering the brightest and the most creative minds to join Vive X. Virtual reality is changing the world, yet to do that effectively it needs a healthy eco-system to expand into the mass market. Through HTC Vive, we look forward to enabling global talent to create interesting and compelling content and to help shape the future of this industry,” said the Chairwoman and CEO of HTC, Cher Wang.

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