Each team will receive £20,000 of funding to advance their projects.
Interested applicants have until 17 February 2019 to submit their proposals.
The content series is being made in partnership with Springwise.
Digital Catapult's Rebecca Gregory-Clarke gives her thoughts from another successful year of VR inclusion at the Venice Film Festival.
VR Awards is partnering with companies including AWE, Super Ventures and Digital Catapult to launch VR Awards Investors Lunch.
The funding continues the UK's investment in VR and AR technologies.
It's a 10-week programme to help advance their projects through mentorship and investor access.
Providing valuable insights and data for developers to help shape the future of the industry.
The investment group is looking to support the next generation content creators.
The Augmentor programme returns for a second year to help new businesses wanting to enter the immersive technology sector.