China bets big on VR, Taiwanese HTC here to help

January 20, 2017 // By Julien Happich
A few months ago, Taiwanese smartphone and VR headset manufacturer HTC signed a strategic cooperation agreement with the Shenzhen Municipal People's Government to create a "China VR Research Institute" assorted with a joint "Shenzhen VR Industry Fund".

The two sides will focus on the development of sensors, display, graphics, data visualization, human-computer interaction and other areas of core VR technology. The total investment of the project worth 10 billion yuan initially, which will be operated in the form of industrial fund, for VR applications spanning medical, military, engineering, design, manufacturing and other professional fields.

Both sides will encourage enterprises, colleges, scientific research institutions and investment institutions to participate in the VR project. The Shenzhen VR Industry Fund will also invite all enterprises of the virtual reality industry chain to work together, and introduce private capital and venture capital from China and other countries to support this project.

HTC is further promoting VR with its subsidiary company HTC VIVE launching the $10 Million "VR For Impact" program at this year's World Economic Forum.

Taking on the role of a responsible company willing to make a positive impact on the world, HTC's CEO and Chairwoman Cher Wang was quoted on a company blog saying "The potential for virtual reality to help us learn, understand, and transform the world is limitless. VR for Impact is a challenge to the VR community and content developers across the globe to help drive awareness and to solve the biggest challenges of mankind".

"HTC Vive will fund the best ideas using Virtual Reality that truly drive awareness and positive change in our world. We encourage all players in the VR eco-system to join as only together can we drive real impact", she added.

Behind this move may lay the ambition to compensate dwindling smartphone numbers and average selling price with premium VR hardware and content.

Visit HTC Vive at www.vive.com