‘HTC’ Bets $100M On Future VR Innovators, All Startup Entrepreneurs Invited

The VR wars are on and “HTC” is losing no time trying to capture the market ahead of its main competitor, “Oculus Rift” with a $100 million investment. The company recently announced its Vive X Accelerator, which is basically an open invitation to startups that have great ideas related to virtual reality and make their visions come true. The program has already lured in 33 startups and more are invited.

The VR Accelerator program that “HTC” is launching involves a four-month course, where the startups or the representatives of the startups will be taken through the steps necessary to get their products ready for the market. According to Road To VR, the 33 startups that are now part of the program will be given portions from the $100 million investment.

These 33 applicants were chosen from over 1,200 that applied for the program all around the world. Half of those applicants came from China and covered a wide range of startups in different industries. The chosen startups will be taken to San Francisco, Beijing, Taipei, and Shenzhen where they will proceed to create the VR technologies that will nab them the coveted prize of becoming the next innovators in the industry.

As Digital Trends points out, these startups won’t be just sitting around. They will only have four months to prove that they are worth investing in or get axed. On the flipside, if the potential is there and the forecasted financial returns of whatever technology is created are big enough, using up all of the $100 million might not matter.

Depending on how good the startups that are part of the program are, “HTC” could be looking at funding support several times that of what they are looking at now. On that note, it’s not certain how much of the money is still left and which of the 33 startups are actually showing any potential.