HTC to launch $100m virtual reality-focussed accelerator programme

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.

Also Read: 

Taiwan’s Cherubic Ventures launches $120m fund, to target SaaS, virtual reality & robotics

Virtual reality co Wevr raises $25m from HTC, Samsung Ventures

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.