Meet the $100M Vive X program from HTC
This year is definitely the breakout year for virtual reality. After several big-name companies simultaneously announced their investments in VR, HTC took it to the next level by unveiling a $100 million program intended to back VR startups. And if that doesn't sound cool, the name of the program will certainly change your mind: Vive X.
According to the company, the Vive X program is going to be launched in the three cities of Beijing, Taipei, and San Francisco and adds that there will be an expected expansion to other parts of the world in the soonest possible time.
In a statement released to the press, CEO Cher Wang emphasizes the role of virtual reality in a world that is changing fast. "We are very excited about gathering the brightest and the most creative minds to join Vive X," he said. Wang added that for virtual reality to be able to make an impact, it needs to thrive in a healthy environment.
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According to Geekwire, the program is designed to invite companies to work in different and varying industries that are planning on producing content with virtual reality. There is no limit or exclusivity when it comes to companies or organizations that want to be part of it.
HTC is leading the initiative, but it still is unclear if others are behind the funding. However, it shouldn't be a surprise if a name or two will come out because VR is seen as a lucrative industry in the not so distant future.
Although the company is headquartered in Washington in the U.S., the program will be piloted in Beijing, and HTC is handing out invites to startups based in Asia to apply. After a series of evaluations, a group of experts will choose the companies to be given access to amenities like coaching and seminars from VR experts and a substantial amount of funding, reportedly ranging from $50,000 to $200,000.
