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[ULVR]HTC Announces $10 Billion in ‘Deployable Capital' in VR Venture Capital Alliance

post #1 of 16
Thread Starter 
Quote:
We already knew that HTC was dedicating a lot of resources to help accelerate VR’s growth, but it looks like the company has taken a big step forward in this area today.

Taking to the stage at this week’s GSMA Mobile World Congress in Shanghai, HTC Vive has announced the Virtual Reality Venture Capital Alliance (VRVCA), which brings together 28 VR investment companies under one banner looking to help fund startup companies working in VR as well as augmented and mixed reality too. Along with HTC Vive itself, names include the likes of Immersion Ventures, The VR Fund, and Colopl VR Fund. The group’s president is Alvin Wang Graylin, the President of VR at HTC China itself.

According to the group’s official site there’s a staggering $10 billion in “deployable capital” between the investors, but that doesn’t necessarily mean that all of this money will be distributed between companies that pitch. It just means that money could be used to invest in those startups.

VRVCA will be meeting six times a year – once every two months – at offices in both Beijing and San Francisco. Hopeful startups from around the world will be able to pitch their companies in the hope of gaining some much needed investment. The site states that anyone working of VR content, base technologies, tools, platforms, hardware, peripherals, accessories or other vertical applications can apply, and it’s already possible to submit a pitch deck. We’re not sure when the first meeting will get underway, however.

Essentially, this gives entrepreneurs a great chance to give their company the spotlight, and also brings interesting new ideas and groups straight to the doors of the investors that might be interested in them. Think of it as a VR version of Shark Tank (or Dragon’s Den for the UK audience); you’ll get to pitch to a wide range of investors and those interested will work something out with you. Anyone that does pitch will need to include details like a full team background, market opportunity, and plans for monetization.

The announcement seems like an expansion of HTC’s own Vive X accelerator concept, which was announced at the end of April 2016. This is a $100 million accelerator fund that companies can apply to get a piece of, with offices in Beijing, Taipei and San Francisco to help incubate growth.

That’s a lot more money that could potentially be injected into the VR, AR and MR ecosystems. Hopefully we’ll start seeing the benefits in the very near future.

Did they say 10 Billion. eek.gif We may get down to sunglass size VR sooner than i thought.

http://uploadvr.com/htc-announces-vrvca/
Edited by Swolern - 6/29/16 at 10:34pm
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post #2 of 16
This is awesome. This should provide a huge push for more and better VR content, and I'm all for it. Though I don't currently own a headset, I'd love to make the purchase provided true system-selling content is available.
post #3 of 16
Maybe I should knock on their door for the final round of funding for our VR project.

Early 2016 projections for the VR industry were 30billion to 135billion by 2020, looks like it's now a lot closer to the $135 billion valuation.
post #4 of 16
Thread Starter 
Quote:
Originally Posted by hatlesschimp View Post

Maybe I should knock on their door for the final round of funding for our VR project.

Early 2016 projections for the VR industry were 30billion to 135billion by 2020, looks like it's now a lot closer to the $135 billion valuation.
Doesn't hurt to try. They definitely have the $$$ to do it.
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post #5 of 16
This is great news. I look forward to purchasing a next generation HMD in a couple years when they hopefully have higher resolution displays. Thanks to any early adopters out there that are getting the ball rolling! thumb.gif
post #6 of 16
Quote:
Originally Posted by FatalProximity View Post

This is great news. I look forward to purchasing a next generation HMD in a couple years when they hopefully have higher resolution displays. Thanks to any early adopters out there that are getting the ball rolling! thumb.gif

Thanks, the hours of mind feeding fun is enough. Come on in the vr water is NICE! 😉
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post #7 of 16
This is great, because this means money going towards getting HMD prices down and quality up. I'm definitely in the market for an HMD that's aimed at the mass market (pricing wise), and I'd imagine a lot of people are.

Content comes with userbase and this sends the right signals on that front.
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post #8 of 16
appleseed is becoming a reality :O
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post #9 of 16
and im guessing Rift doesn't want to be with them
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post #10 of 16
$10 Billion...

So long Occulus.
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