Whether you’re a budding or experienced entrepreneur, here’s an opportunity to consider. Virtual Reality headset company HTC is accepting applications for a new batch of VR startup companies that will begin in November 2016, according to Road to VR.
HTC has $100 million earmarked for its Imagination to Reality global VR accelerator program and is reaching out worldwide. Companies accepted into the program will work at HTC Hive X locations in San Francisco, Taipei, and Beijing. There’s also a hardware-only program in Shenzen, China.
HTC hasn’t said how much of the $100 very large is still available after the first batch of startups were picked. Of more than 1,200 applications for that first round, 33 companies were chosen — half from China. The full list (minus a few in stealth mode) is available on Road to VR. The categories of that first batch include content creation (largely entertainment and gaming), hardware, and services, according to HTC.
Participants in the startup accelerator program won’t exactly be sitting around basking in the glow of entrepreneurial opportunity. They will have four months “to produce marketable products/content which will be presented to potential investors upon their graduation.” So expect to be busy.
Even if the first (and second) groups of Vive X startups burn through HTC’s $100 million accelerator pot, that doesn’t mean investment backing potential disappears. HTC is the founding member of the Virtual Reality Venture Capital Alliance (VRVCA), a consortium of VC companies focused on virtual reality. Together VRVCA has a total of $12 billion in capital to invest.
So if you have an idea for the VR market and want backing to get it going fast — and are willing to relocate and work like crazy for four months — consider the Vive X accelerator program. The program offers expertise, mentorship, education, networking, support services, and of course investment to give you the chance to add to the world of Virtual Reality. The program is taking applications now.