Taiwan-based electronics manufacturer HTC Corporation has announced its plans to commit $100 million to launching a virtual reality-focussed accelerator programme.
The programme, called Vive X, will take place in Beijing, San Francisco and Taipei, the company said. It targets mainly virtual reality programmers, and will provide them with funding in exchange for equity.
The Verge said that HTC would give between $50,000 and $200,000 to each company in the programme, but the firm has not disclosed how much equity it would receive. It added that the funds would come from a vehicle led by HTC, and not from the corporate itself entirely.
Aside from manufacturing smartphones and tablets, which the company is most well known for, like other hardware companies in the market HTC has entered the virtual reality space and launched HTC Vive, a virtual reality headset priced at approximately $799, depending on where the customer is based out of.
Cher Wang, CEO, HTC, said, “Virtual reality is changing the world, yet to do that effectively it needs a healthy ecosystem 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.”
In January 2015, US-based venture capital firm Rothenberg Ventures announced having selected 13 teams to participate in its brand new virtual reality accelerator. Back then, Mike Rothenberg, CEO and Founder, Rothenberg Ventures, said in an interaction with The Verge, “Just as the Internet was nascent 20 years ago but now is ubiquitous, virtual reality technology will transform every industry over the next decade or two.”
In Asia, Japanese social and gaming company GREE has also launched its $12 million fund targeted at startups working on virtual reality content.