HTC scales up $12b VC consortium, forms first batch of Vive X startup accelerator program

Visual from company website

Taiwan-based consumer electronics firm HTC Corp has admitted eight new members to the Virtual Reality Venture Capital Alliance (VRVCA) with total investible capital of over $12 billion, and announced the first batch of startups for its HTC Vive X Accelerator program.

With 36 members, VRVCA is a consortium of the world’s top VCs who aim to invest and support innovative ideas and accelerating growth in the global VR industry.

The new VRVCA members are Lightspeed China Partners, Lightspeed Venture Partners, Presence Capital, NVIDIA GPU Ventures, Shanda Group, SoftBank Ventures Korea, SOSV and ZhenFund.

Also read: Wattcost wins SingTel-Samsung Regional Mobile App Challenge

HTC formally announced the first batch of its Vive X Accelerator program, composed of 33 startup companies selected from a pool of approximately 1,200 applications from over 30 countries around the world, at the recent China International Digital Entertainment Expo & Conference.

They range from VR content and applications, to enabling technologies, as well as innovative hardware and services. These teams will be spread amongst the four Vive X locations in San Francisco, Beijing, Taipei, and the newly added Shenzhen location, which has a greater focus on hardware related projects.

HTC VR China regional president Alvin Graylin said the selected VR startups’ offerings cover a wide range of content, services, and core VR tech.

“These companies represent the best and brightest of a new generation of startups that will soon be changing the world we live in and the way we interact with each other,” Graylin said.

HTC launched the Vive X program last April accompanied by a $100 million investment fund.

Also read: Philippines: IdeaSpace awards top 10 startups from 2016 acceleration program

The 33 Batch-1 teams (including 10 unnamed stealth teams) range from a variety of specialties, such as entertainment (Action Bunker VR, 7D Vision, LumiereVR), gaming (Directive Games, Shortfuse, EdSenses, Omnigames, Metal Cat, Glowsticks Games), applications (CleVR, appMagics, Teemew, SurrealVR), UI/UX (e.g. BreqLabs), tools and technologies (RockVR, Apmetrix, Fishbowl VR, Kaleidoscope VR, Immersv, Wondergate, ObEN), education and medical (Augmented Intelligence, TheMetaverseChannel), and many of which have already made a name in the VR industry.

In the following four months, the Batch-1 teams will be challenged to produce marketable products/content which will be presented to potential investors upon their graduation.

The Vive X team, its mentors/advisors and the entire HTC organization will be actively supporting these entrepreneurs.

HTC likewise announced that it will open applications for its Vive X Batch-2 on November 2016.

Also read:

Seedstars kicks off 2016 contest, awards P2P lending startup Acudeen Tech in Philippines

SkyEye wins Philippine Rice Bowl Startup Award

Spring.ph breaks 50 software startups target, adds 7 new firms to LaunchPad

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.