HTC launches $100m VR accelerator in China, Taiwan, US

The program, named Vive X, is designed to provide start-ups with access to mentorship, advanced VR technology, expertise, and marketing support. It will make cash investments in participating start-ups for a small amount of equity. In a statement, the company said the fund would be "led by HTC;" the Vive X website says that additional VC investors are participating in the fund, but did not identify them.

HTC's goal for the accelerator is to foster a development ecosystem for its VR headset, the Vive, developed with games creator Valve and released earlier this month. The main competition in this space so far has come from Facebook-owned Oculus, whose Rift headset launched in March. Sony is also developing a VR product to be used with its PlayStation platform, while Samsung has partnered with Oculus for its Samsung Gear VR project, intended as a more affordable option.

Vive X will open in Beijing, Taipei and San Francisco, and may enter other cities in the future. The pilot program will begin in Beijing in May, with membership open to companies from any industry that are working on content or tools to improve the development ecosystem and end-user experience.

Asian investors have shown increasing interest in VR as developers have sought to make the technology affordable for consumers. Earlier this month Gree launched a $12 million fund to support VR software and content. Others have already made direct commitments, including a $65 million round for US-based software developer Jaunt with participation by CMC Capital Partners and TPG Growth, and a RMB230 million ($35 million) round for headset manufacturer Baofeng Mojing led by CITIC Capital.

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• Topics
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