TAIPEI, Taiwan - HTC at MWC Shanghai 2016 announced that they will team up with 28 of the world’s top venture capital firms to found the Virtual Reality Capital Alliance (VRVCA) and invest billions in funding to encourage entrepreneurship and innovation in the global virtual reality industry.
HTC Vive China President Alvin Wang stated, “virtual reality technology will have a tremendous impact on the world that cannot be ignored. VRVCA represents the birth of an innovative investment model, and these top investment companies will tear apart traditional competitive methods. This is the first time we have teamed up to foster the development of new industries.”
In addition, HTC has also launched the Vive X Accelerator Program and will jointly invest over US$100 million with its partners in order to foster creativity, technical ability, and vision as a collaborative team.
At the end of May the Vive X Accelerator Program received over 1,200 applications from over thirty countries in Asia, Europe, and the Americas to join the virtual reality team with creative ideas in the domains of software, hardware, content, and technology for virtual reality.
In early July the first batch of selected teams will be stationed in Taipei, Beijing and San Francisco offices, and in a period of four months they will receive industry resources, technological support, and instructional courses from the Vive X Accelerator Program. The second round of Vive X Accelerator Program applications is expected to begin in October with the selected teams beginning to participate in the Vive X Accelerator Program in January 2017.
(TR/ Phil Sweeney)
