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HTC announces a new $1.5 Billion fund and research center for China

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HTC i snaking a huge Chian investment, as it continues to grapple with ever-falling sales and revenue numbers. to tackle that and perhaps find the ‘next big tech’ to help itself sustain, the company has announced a massive $1.5 Billion fund and a new research center in conjunction with the Shenzhen Municipal Government.

HTC has partnered up with the Shenzhen Industry Guiding Fund to establish the Shenzhen VR Investment Fund. The fund has been endowed with an initial 10 billion RMB (approximately $1.5 billion) and will use it to provide a boost to the Chinese VR industry and the companies working in the field.

A brand new, China VR Research Institute has also been announced that will be working to create new technologies in Virtual Reality. This center will be working on the development of  sensors, displays, graphics, data visualization, human-machine interaction, and other related technologies. The institute will also include enterprises, universities, research institutes, and investment organizations that will all be working in collaboration with each other to boost the VR economy in China.

The institute will also be working to apply these technologies into sectors such as health care, military, engineering, design, and manufacturing.

Speaking on the topic, HTC chairwoman and Co-founder Cher Wang said that the research institute and the investment fund would together serve to,

Accelerate the development of the VR industry in Shenzhen and elevate the city’s R&D capabilities.

HTC has been doubling down upon VR recently. HTC Vive is one of the most popular — and expensive! — headsets out there and the company is looking to keep the momentum going. From launching the  Vive X accelerator to getting investment firms together to form the VR Venture Capital Alliance (VRVCA) to establishing the Industry of Virtual Reality Alliance in China, the company is betting big on VR.

The new China VR Research Institute and the $1.5 Billion fund, is further proof of the HTC’s commitment to virtual reality and to the Asian continent.

A bibliophile and a business enthusiast.

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