HTC is a company that isn’t afraid to leap into new spaces. It built the first Android phone, and it just released the first SteamVR headset. Now the company is investing even deeper into virtual reality.
Vive X is a new $100 million fund for VR startups from HTC (via The Verge). The company will lead this effort with unnamed partners to help new companies in this burgeoning space bring their products to the market. Additionally, Vive X will help connect startups with mentors and investors. For HTC, this should help it build out software support for the Vive headset for years to come, which is crucial considering analysts at SuperData Research expects VR to generate $40 billion in revenue by 2020.
This kind of support could encourage more startups to enter the space. VR is so new that the industry is still figuring out best practices. Additionally, the market for high-end VR on PC is still relatively small. While it may grow into a lucrative space by 2020, no one is expecting it to bring in much cash in 2016. In fact, SuperData has twice dropped its predictions for VR revenues this year.
Written By: Jeff Grubb