A GSMA Mobile World Congress was held in Shanghai on 29th June where HTC Vive announced that it would take the initiative to invest a huge sum of $10 billion in the VR development project. With the growing potential of Virtual Reality applications, developers look forward to huge investments totransform the R&D based prototypes to marketable products.
Thisload will be shared by HTC Vive and its partners. With the recent launch of its VR division under Vive, HTC has launched a VR Venture Capital Alliance, with 27 partners sharing the same belief. This alliance is setup with a goal to provide funding to companies that are involved in VR technology development. The Alliance will be headed by Alvin Wang Graylin, China Regional President of VR at HTC. It is evident that the company is willing to focus on VR technology. After its previous investment of $100 million in the Vive X accelerator fund, this is another major investment in the field.
Looks like these initiatives have taken a serious path after Facebook’s acquisition of Oculus VR, the VR-centric companies are willing to take no chances in losing their market share. The member companies will be meeting up every two months sharing ideas and discussing with the VR start-up companies looking to have a piece of this cake. The alliance seems to be covering up all the related grounds in augmented and Virtual Reality Space, hoping that these headset technologies can build-up into something bigger and better.
