What is VIVE X?
VIVE X is HTC’s global program to invest in startups at the intersection of VR, AR, AI and 5G. We do that by providing founders with investment, strategic support and networked expertise. The VIVE X team is based in San Francisco, London, Beijing, Taipei, and Tel Aviv, with each hub covering their own region (eg. Beijing for China, London for Europe).
What is HTC’s goal for VIVE X?
Our mission is simple: to accelerate the XR ecosystem by supporting the best startups globally. We believe that technologies such as VR, AR, AI and 5G are radically changing the way we work, learn, live and play. This will transform entire industries and create a large amount of value along the way. A healthy ecosystem benefits everyone, including VIVE and the teams we back.
What kind of startups are suitable for VIVE X?
We typically do not invest in service-based business such as agencies or content studios. We also do not provide project funding through VIVE X. If you are making a game or VR experience then please get in touch with our Viveport team.
How much funding do VIVE X companies receive?
VIVE X most looks at startups from Seed through Series A. Additionally, we are also willing to look at post-Series A for more advanced XR startups. Teams typically receive between $100-200k USD (or equivalent) and usually as a convertible note. The final amount is dependent on the stage and geo of the startup. In addition to the investment each company gains access to the VIVE X program of support.
What is the VIVE X program?
We no longer run a traditional accelerator, but consider ourselves an early-stage value add investor that can provide programmatic support to all our founders. After joining VIVE X, the team will work with you to understand how we can pro-actively deliver the most strategic value add near term. Thereafter, we provide ongoing portfolio support as needed. Areas where we have supported founders include:
- Strategic guidance – we will work with you to set clear business goals and identify areas where HTC and the VIVE X team can support the company.
- Networked expertise – as well as internal support, we will work with you to identify individuals and partners within our global network that can be helpful in achieving your objectives.
- VIVE X network – connections to over 100 VIVE X founders and alumni who have been on the same startup journey as you.
- Promotional support – as well as the association with VIVE X, our global PR teams will identify further PR and marketing opportunities as they arise.
- Distribution – access to potential new users through Viveport and connections into our Enterprise Sales teams across relevant regions.
- Go-to-Market Support – help you expand your product globally and identify new markets.
- Product Support – access to tech support from our developer relations team and the potential for early access to new product, software and SDK’s (where possible and appropriate).
- Fundraising support – we can advise on your future fundraising, make introductions to investors, and raise visibility through investor related events.
Why should I join VIVE X?
If your company is accepted into VIVE X, we will do all we can to help ensure that your company has all the resources it needs to be successful. We want your company to be the next titan in your respective industry vertical. By taking part in VIVE X, you will be joining our VIVE family and have the opportunity to access unparalleled levels of support from our team of mentors, engineers, corporate executives and investors.
Do I have to work out of the VIVE X office or be in one of the previously mentioned VIVE X locations?
VIVE X is not a location-based accelerator program. There is no requirement for you to work from the VIVE X office or be in one of the VIVE X city locations. We expect that you already have a team based in its own offices (or are working remotely). You will have a central VIVE X contact in your region (eg. London for European based companies) and support can be provided remotely. However, we will expect to have regular contact with founders and will from time to time want to hold in-person meetings, events and similar. In some cases we can provide limited access to meeting rooms and hot desks in our offices globally, but this is currently subject to restrictions and would only be provided on a case-by-case basis.
Can I make an application for funding?
VIVE X operates like a traditional venture capital firm, we pro-actively reach out to partners we're interested in, and also work through qualified referrals through partners and leaders in the space who are known and respected. We are also approachable by warm intros from trusted people in our network (e.g. other VIVE X founders or customers and partners). This is usually the best way to work towards an investment from VIVE X.
Therefore there is no direct application process for VIVE X and we would encourage any prospective partners to raise their profile within the industry and network with the leaders in this space.