$1.5 Billion Investment Fund and Research Center by HTC on China

By Staff Reporter

Nov 21, 2016 06:00 AM EST

Announcing a partnership with the Shenzhen Municipal Government in kicking off two new initiatives, HTC is really making a lot of moves China.

A new China VR Research Institute is one of these new initiatives. HTC and the said center will be working on developing breakthroughs in sensor, display, graphics, data, visualization, human machine interaction and some other areas. This will consist of members of enterprises, universities, research institutes and investment organizations which will be working to boost the VR ecosystem in Shenzhen China and apply the technology to various areas such as health care, military, engineering, design, and manufacturing.

The Shenzhen VR Investment Fund has also been established with the help of the Shenzhen Industry Guiding Fund. It's backed by an initial amount of 10 billion RMB (about $1.5 billion), which will help accelerate the growth of the Chinese VR industry by boosting funds of various companies.

HTC chairwoman and cofounder Cher Wang said that the research institute's "multiple R&D centers" and the investment fund would "accelerate the development of the VR industry in Shenzhen and elevate the city's R&D capabilities."

Rivals like Oculus also have their own research groups dedicated to solving the long-term breakthroughs VR will need to become more immersive and reach mainstream potential. We've heard about many such groups in the West, though this is the first we've heard about in China.

Earlier in the year the company launched its own Vive X accelerator, looking to assist startup companies with mentorship, working space, and access to potential investment. Shortly after that the company gathered investment firms to form the VR Venture Capital Alliance (VRVCA), again reviewing pitches from startups to raise funding. Most recently, the company helped establish the Industry of Virtual Reality Alliance in China, gathering companies to combat a range of issues facing the industry.

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