HTC is creating a VR research institute and $1.5b investment fund in China

Both initiatives help advance the company's goal of encouraging development in the burgeoning VR space.

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HTC announced a partnership with China's Shenzhen Municipal Government to launch two new initiatives designed to help advance development and interest in the burgeoning VR market.

The first initiative is the China VR Research Institute. In this facility, HTC and Shenzhen Municipal Government will strive to develop software and hardware innovations such as sensors, display modalities, methods of human-machine interaction, and other data.

China VR Research Institute represents a collaboration between assorted research facilities, universities, and other businesses united toward propagating China's VR ecosystem.

The second initiative is the Shenzhen VR Investment Fund. Backed by an initial seed of $1.5 billion (approximately 10 billion RMB), the fund is being established with the aid of the Shenzhen Industry Guiding Fund and will help companies in China's VR space get off the ground.

HTC and affiliated companies such as Valve have concentrated on taking strides in encouraging greater development in virtual reality. Last month at Steam Dev Days, developers at Valve confirmed that a beta for SteamVR will make its way to Linux and Mac computers later this year.

[Source: UploadVR]

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