HTC has been one of the most proactive companies inside the virtual reality (VR) industry, driving development and nurturing promising VR startups. In July, HTC as part of a consortium announced the Virtual Reality Venture Capital Alliance (VRVCA), a $10 billion USD fund to encourage the growth of the VR industry. Today the company has revealed its established the Industry of Virtual Reality Alliance (IVRA) in conjunction with the Electronic Information Division of the Ministry of Industry and Information Technology (MIIT) in China.
The IVRA aims to enhance the development of the VR ecosystem in China by promoting technology innovation and the formulation of industrial standards, bridging hardware, software, content, platforms and industrial applications. More than 170 enterprises and institutions have confirmed their partnership with the IVRA. This includes leading VR enterprises at home and abroad such as Alibaba, Huawei, JD, Netease, Sohu, Perfect World, Enlight Media, Letv, iQiYi, Samsung, Nokia, AMD, Ubisoft, NVIDIA, and ARM.
Cher Wang, Chairwoman and CEO of HTC Corporation said, “We are honored to work with many excellent industry partners to promote the development of China’s VR ecosystem. As a founding member of the IVRA and a leading firm in VR technology, HTC is committed to promoting VR technology innovation in China and the implementation of various industry applications. We have already accumulated a wealth of experience in these areas. With the establishment of the IVRA, we will continue to play to our strengths, while actively assisting MIIT and other relevant departments, in formulating industry standards.”
While Alvin W. Graylin, China Regional President of Vive, HTC and Vice Chairman of IVRA commented: “As the current market leader, HTC is honoured to have this chance to promote the spirit of cooperation and integration between all parts of the ecosystem in order to accelerate the maturing of the VR industry as a whole. We want to bring revolutionary improvements to people’s lives in China and globally by working together as one industry to bring to market products and content which deliver real value to consumers and business customers.”
China is seen as one of the biggest markets for VR, with a massive consumer base of tech savvy customers. But the country has generally been difficult to break into for non-Chinese companies, but as the IVRA has been officially endorsed by the government by working with MIIT that might make it easier for the rest of the VR industry.
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