HTC will lead investment fund to cultivate VR ecosystems by supporting startups

HTC will lead investment fund to cultivate VR ecosystems by supporting startups

Great news has come from Taiwanese smartphone maker HTC that it will be heading a virtual reality accelerator fund worth $100 million in order to push the VR ecosystems majorly by supporting the associated startups. Virtual reality is already being used in various fields like the training of surgeons, astronauts and combat troops.

The investment fund will be known as Vive X. The startups will have an access to VR expertise, advanced VR technology, mentorships, financial investments and go-to-market support. The HTC said that a website has been created where interested organizations can sign in for the program.

Vive X will start in Beijing, Taipei and San Francisco and will then expand from there on. Selected startups will be invited from Asia. The Vive X project sounds interesting, but experts have warned that virtual reality is in its early days and will take a lot of time before its mass adoption.

HTC CEO Cher Wang mentioned, “Virtual reality is changing the world, yet to do that effectively it needs a healthy eco-system to expand into the mass market”.

Tuong Huy Nguyen, an analyst at Gartner said that early days are going for VR pilots. Companies, which are interested in VR, do not want to do the things alone. They want that someone should streamline things for them and bring innovative ideas and implement them.

He thinks that that best way for HTC would be to design specific vertical industry content. As per Nguyen, medical centers are already using VR to diagnose prostate cancer. Including VR technology has improved diagnosis accuracy by 300%.

HTC's efforts in the case of VR look promising, it is the place for immersive technology but the only thing is it will take time. HTC will have a fierce competition from Android smartphone market.

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