Despite positive early reviews and a positive outlook of high-end VR hardware like the HTC Vive and Oculus Rift, beyond their monumental price tags, both devices suffer from one significant issue – a lack of software actually worth using.
This is an problem HTC is hoping to solve by launching a new $100 million USD accelerator program for startups interested in working with VR technology. The program, called Vive X, is launching in Beijing, Taipei and San Francisco, and could possibly expand to more cities in the future. It’s currently unclear if HTC has any plans to bring Vive X to Canada.
HTC says that Vive X offers help developers secure investment, mentorship and give access to expensive VR development technology, including Vive dev kits. The program also provides companies with office space and will host demo days, allowing potential investors to see what developers creating VR content within HTC’s accelerator are working on.
What’s interesting, is Vive X’s investment fund doesn’t come solely from HTC. Instead, the Taiwanese phone manufacturer only leads the fund, with other investors also contributing to it, though HTC hasn’t listed what companies are investing in Vive X. It’s likely that Valve, HTC’s main partner with the Vive, is likely contributing a significant amount of money to the fund.
HTC says that companies part of the Vive X program will be given between $50,000 USD and $200,000 USD in exchange for giving “a small amount” of equity.
Earlier this year, competing Facebook-owned VR manufacturer Oculus, revealed it will give $1 million USD in funding towards a game jam focused on the Samsung’s Gear VR and the Oculus Rift.
HTC has pegged the company’s future on the Vive, with Wang Tsung-Ching, the head of HTC Vive China, even recently stating that the company believes the virtual reality industry will surpass smartphones in as little as four years.
Interested companies are able to apply for a pilot version of the program that’s set to launch in Beijing in May.
Related reading: In light of dwindling sales, HTC puts its faith in the Vive
[source]HTC[/source]
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