Vive X: Funding Program for Virtual Reality Start-Ups
Leading mobile phone maker HTC Corporation announced Tuesday it is launching Vive X, a global accelerator program targeted at start-ups operating in the virtual reality (VR) space.
With a $100m investment fund led by HTC, the program is designed to help global VR ecosystem by supporting start-ups and providing them with expertise, special access to advanced VR technology, financial investment, mentorship and go-to-market support.
The program aims to enable VR start-ups to become content producers or content enablers for the Vive platform.
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Starting in three cities – Beijing, Taipei and San Francisco, with a view to rolling out across other global hubs in the near future – Vive X offers start-ups the opportunity to be based in one of those cities for an initial growth period, during which they will have access to funding, leading VR know-how, hands-on coaching, and office space.
They will also be invited to demo days, where leading investors will be in attendance, and to HTC’s offices for intensive training with its first-party development studios and to meet key members of the Vive engineering and management teams.
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In Beijing, Vive X will pilot in May 2016, when selected start-ups from around Asia will be invited to apply for the program, with the goal of enabling those companies to grow with the Vive platform.
As in the other locations, Vive X in Beijing is targeted at accelerating entrance and growth for companies with proven success in the VR industry, with each participating start-up receiving cash investment in return for a small amount of equity.
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The program is open to companies from any industry that are creating content, tools, applications and accessories that enrich the VR ecosystem and end-user experience.
“Virtual reality is changing the world, yet to do that effectively it needs a healthy eco-system 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,” said Cher Wang, chairwoman and CEO of HTC.