With VR all around, HTC announces $100 million fund for VR startups

With VR all around, HTC announces $100 million fund for VR startups

With VR all around, HTC announces $100 million fund for VR startups

Bengaluru | Red Newswire | May 17 9:00 AM IST.

The virtual reality market is bustling more than ever. More and more startups are springing into the VR industry for creating appealing simulated realities. HTC became one of the major players in the industry with the launch of its HTV Vive. And for the startups focusing on this gear, things are going to get way better.

HTC announced Vive X, its $100 million fund which the company will exclusively invest in startups focused on VR all across the globe.

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. We look forward to enabling global talent to create interesting and compelling content and to help shape the future of this industry.”

HTC plans to invest in all kinds of VR startups – those who make related accessories, create content and apps etc.

The company is calling this as the global VR accelerator. This fund clearly shows how committed HTC is regarding VR.

HTC faces great competition from Facebook backed Oculus Rift and Sony’s PSVR. Even though the company is known better for its mobile phones, its VR gear is leading the market.

HTC’s funding will help bring out the potential of this technology in many fields, especially gaming and movie industries.

If you are a VR startup, apply here.

Source: HTC Vive