This year's accelerator will be run remotely from July - November 2020.
The fund sees support from Epic MegaGrants and StoryFutures Academy.
VRFocus spoke with a few attendees to discuss the initiative and their projects.
20 companies will be in attendance.
Each team will receive £20,000 of funding to advance their projects.
Interested applicants have until 17 February 2019 to submit their proposals.
The funding continues the UK's investment in VR and AR technologies.
Twenty creative innovators will be offered funding to create new immersive content.