Qualcomm establishes metaverse fund

On March 22, Qualcomm announced the establishment of a snapdragon metaverse fund with a total amount of up to US $100 million to invest in developers and enterprises building unique immersive XR experience and related core AR and AI technologies.

In an interview with China Electronics News, the relevant person in charge of Qualcomm China said that the fund plan will be used by Qualcomm venture capital to make venture capital investments in leading XR companies, and provide funds for building a developer ecosystem rich in XR experience (including games, health, media, entertainment, education and enterprise applications) through Qualcomm technologies’ funded projects.

Regarding Qualcomm’s move, Zhong Xinlong, a researcher at the Institute of informatization and software industry of CCID think tank, said in an interview with China Electronics News that it is a common practice for XR enterprises to establish funds or developer plans to improve their ecology. Earlier, other manufacturers also carried out different forms of activities to improve their ecological construction, such as Google’s grow with Google growth plan HTC’s vive x accelerator program, vive ISV partner program, oculus start program, etc. “For Xiaolong metaverse fund, we look forward to enabling developers and enterprises of different sizes to create more possibilities when a new generation of spatial computing is launched,” said an Meng, President and CEO of Qualcomm

According to Qualcomm, Xiaolong metaverse fund will officially open its application in June this year. Enterprises and developers invested and funded by Xiaolong metaverse fund will have the opportunity to obtain leading XR platform technology, hardware suite, global investor network and joint marketing and promotion opportunities.

According to Zhong Xinlong, Qualcomm’s establishment of metaverse fund may achieve three potential goals. As a provider of XR integrated software and hardware solutions, first of all, the establishment of Qualcomm Fund helps to explore more partners and further promote its products. Secondly, the growth of smartphone market has slowed down in recent years, and metaverse related businesses, including XR terminals, may become the second business growth curve of Qualcomm; Finally, the establishment of the fund will help Qualcomm show the technical strength of its products, create a better reputation, and then create more classic application examples to attract more potential third-party customers

Metaverse has not only accelerated the pace of Qualcomm’s layout of XR, but also entered a new round of activity in the field of XR investment and financing since the concept of “metaverse” became popular all over the world in 2021. Internationally, Microsoft plans to buy Activision Blizzard, Sony XR virtual platform developer and snap ar waveguide display company at a “sky high price” of US $68.7 billion; Domestically, byte beat acquired hardware manufacturers Pico and XR with large sums of money, and Qitian completed round B + financing and AR smart glasses enterprise rokid obtained round C financing of 700 million yuan. Metaverse has also attracted local government bets. In March this year, Beijing Tongzhou plans to establish a metaverse industry fund to build a fund covering the metaverse industry by relying on the Tongzhou industry guidance fund and combining other social capital in the way of “master Fund + direct investment”.

The reporter observed that since June 2021, the investment and financing boom has involved many application fields such as games, hardware, upstream display technology, education, training and 3D cloud platform, promoting the development and growth of the industry in terms of technology development, application expansion and market expansion. At the same time, the new round of investment and financing boom will not only help promote the development of VR industry, but also promote the in-depth development of VR terminal product prices, games and content applications.

For example, after the acquisition of Pico last year, the company used its own resources to increase its investment in technology research and development and marketing of Pico VR head display. During mwc2022, byte beat reached a cooperation intention with Qualcomm. Liang Rubo, CEO of byte beat, said that related devices of its Pico company will be equipped with Qualcomm snapdragon spaces XR Developer Platform in the future. In terms of marketing, we promoted VR head display products through e-commerce live broadcast and other ways, which increased the market share of Pico products. According to the latest data, Pico, a subsidiary of byte beat, has risen from the third largest VR hardware supplier in the world to the second, second only to meta quest VR head display products. The industry expects that Pico terminal shipments are expected to increase significantly this year, and Pico will also raise its original VR sales target in 2022 from 1 million units to about 1.8 million units in the near future.

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