Earlier this week, Qualcomm announced the launch of a $100 million venture fund for companies developing immersive experiences. The funds will be distributed through the Qualcomm Technologies grant program and Qualcomm Ventures arm. Recipients of Qualcomm’s grants will receive early access to new hardware and services, as well as marketing opportunities. The fund will be open to developers in all areas of immersive experience creation, and applications will be considered in June.
The fund will be used to support VR and AR startups, and will initially focus on augmented and virtual reality. While the terminology “XR” generally refers to virtual reality, Qualcomm is looking beyond that to help build out the XR ecosystem. The Qualcomm Metaverse Fund will be open to XR developers in a wide variety of industries. For more information on the program, visit the company’s website.
The new fund will focus on AR and VR companies, with the goal of enabling the creation of virtual and augmented reality experiences. The corporate venture capital arm of Qualcomm has previously made major investments in emerging technologies, including mixed reality smart glasses, but the focus on AR and VR in this fund will likely be much more broad and diverse than that. It will also fund the creation of immersive environments for gamers.
The new fund will focus on AI and augmented reality companies and will support a variety of vertical industries. The Snapdragon Metaverse Fund will invest up to $100 million in companies that create VR and AR experiences. The Qualcomm Intelligent Reality Fund will provide seed capital to develop core augmented reality and AI technologies and developer ecosystems. This fund will help accelerate the development of XR technologies in gaming, health and wellness, media, enterprise, and entertainment.
The Snapdragon Metaverse Fund will invest $100 million in companies that develop XR experiences. The Qualcomm Intelligent Reality Fund will focus on core AI and augmented reality technologies and developer ecosystems. The aim of the fund is to support companies with immersive XR experiences. It will also support the development of augmented reality and VR-compatible devices. This is a huge opportunity for developers and investors alike.
The $100 million fund will initially invest in projects that use artificial intelligence or augmented reality to create a more immersive experience. The Qualcomm Metaverse Fund is not a limited-equity venture fund and is open to projects in other areas of the world. But it is expected to invest in companies that use a blend of these technologies. This will be the first phase of the funds for the Snapdragon Metaverse.