Taiwan-based consumer electronics manufacturer HTC unveiled a $100m accelerator initiative yesterday that will invest in the virtual reality (VR) sector.
The Vive X accelerator, which is named after the company’s Vive VR headset, will offer startups access to HTC’s virtual reality technology, expertise and mentorship. Companies will also receive funding in exchange for a minority stake, though details have not yet been revealed.
HTC expects the accelerator to foster an ecosystem around Vive, and is targeting startups throughout the VR industry, from content and applications developers to those building tools and accessories.
Vive X will initially be run in Taipei, Beijing and San Francisco before rolling out to other cities across the world. Startups will be given office space at one of the three locations and invited to the HTC headquarters as part of the scheme.
Applications for the program are open on the accelerator’s website, though HTC has not yet announced when it will get underway.
Cher Wang, chairperson and CEO of HTC, said: “We are very excited about gathering the brightest and the most creative minds to join Vive X. 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.”