HTC Launches $100 Million Virtual Reality StartUp Fund
Virtual reality might be a hot and the next big thing in technology, but there’s still a relative lack of media being created for its devices. Perhaps this is the reason that many tech giants, including the likes of Microsoft, Facebook, and Google are betting on it.
Now the maker of the HTC Vive virtual-reality headset is doing something about that. HTC is introducing a global startup accelerator with $100 million in funding, with the hopes of investing in ambitious hardware and software thoughts for virtual reality.
The program is intended to help cultivate, foster and grow the global VR ecosystem by supporting new businesses and providing them with skill, special access to advanced VR technology, mentorship, financial investment and unmatched go-to-market support – eventually building them into valuable content producers or content enablers for the Vive platform.
Taipei, Beijing and San Francisco will be the first hubs open for start-ups to receive one-on-one attention, and HTC hopes to open more around the world in the future.
"Virtual reality is changing the world, yet to do that effectively it needs a healthy ecosystem to expand into the mass market,” HTC CEO Cher Wang said in a statement.
“Through HTC Vive X, we look forward to enabling global talent to create interesting and compelling content and to help shape the future of this industry."
The pilot programmer will begin in Beijing, China in May with "selected startups from around Asia" getting office space, coaching and a small investment of between $50,000 and $200,000. It will then roll out to San Francisco, Taipei, and other global hubs.
Incidentally, the funding for this programmer won't entirely come from HTC. Instead, Vive X is supposed to be an 'investment fund' directed by HTC.
As per HTC, the ultimate objective of the programmer is to support a healthy and vibrant ecosystem for its Vive VR headset. Companies participating in the Vive X program will be presented funds in the range of $50,000-$200,000, in exchange for handing over a small amount of equity, in addition to other profits. The startups interested in the Vive X program can begin applying now, and the pilot program is expected to initiate this May in Beijing.
The HTC Vive is one of the main VR headsets presented for PC, whereas the other is Facebook-owned Oculus Rift. The headset is intended to work with Steam, so user will require a Steam ID to download compatible content.
If user are thinking of purchasing a VR headset, user can download games in anticipation and have them ready for when user buy the peripheral. We can configure the headset to work in room-scale or just stand in a place.
The HTC Vive has the biggest area of any VR headset, as it is able to withstand a 15 by 15 feet area, although most VR games do not need user to run, walk, or jump. The Vive’s laser trackers follow their hands and the headset as user interact with the game; if user use two trackers the motion capture will be much more thoughtful. Recently, folks at iFixit tore down an HTC Vive and found out that it was really easy to repair.
HTC declared its Vive VR headset previous this year. At that time, CEO Cher Wang had made it clear that the company will concentrate on virtual reality this year. Considering that HTC phone sales have been nothing to brag about in the past few quarters, the move does make sense. HTC has been allocating its Vive Developer Kits to game developers as well as content creators and will continue to work with various companies to create content across genres as wide as entertainment, gaming, medicine, education and so on.
With the launch of the Vive X program, HTC has revealed that it's dedicated towards Virtual Reality. Vive headset is also the only VR product in the market that comes with motion trackers.