Qualcomm announced the establishment of a $100 million Snapdragon Metaverse Fund to invest in developers and companies that create unique immersive XR experiences and related core AR and AI technologies.
It is reported that the fund aims to be a launch platform for XR developers and enterprises, supporting them in building the underlying technology and content ecosystem for Metaverse.
The fund is in line with Qualcomm’s existing portfolio of industry-leading initiatives, including the Snapdragon® XR platform, the Snapdragon Spaces™ XR developer platform, and the European XR Lab.
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Qualcomm CEO Ammon said that the invested companies and developers will have the opportunity to gain early access to leading XR platform technology, hardware kits, global investor networks, and joint marketing and promotion opportunities. The application for the Snapdragon Metaverse Fund will be officially opened in June 2022.
The following is the full text:
The Snapdragon® Metaverse Fund aims to be a launchpad for XR developers and enterprises, supporting them in building the underlying technology and content ecosystem for the Metaverse.
This fund is in line with Qualcomm’s existing portfolio of industry-leading initiatives, including the Snapdragon® XR platform, the Snapdragon Spaces™ XR developer platform, and the European XR Lab, to jointly advance the development of the XR ecosystem.
Qualcomm today announced the establishment of a $100 million Snapdragon Metaverse Fund to invest in developers and companies building unique immersive XR experiences and related core AR and AI technologies.
Moreover, the fund plans to deploy capital through venture capital investments in leading XR companies through Qualcomm Ventures, as well as through Qualcomm Technologies, Inc.-funded programs for the creation of rich XR experiences including gaming, health, media, entertainment, education, and enterprise application to provide funding for the developer ecosystem.
Qualcomm President and CEO Ammon said:
We deliver groundbreaking platform technologies and experiences that will empower consumers and enterprise customers to build and integrate into the metaverse, connecting the real and digital worlds.
Qualcomm’s technology is the key to the metaverse. Through the Snapdragon Metaverse Fund, we look forward to empowering developers and enterprises of different sizes to create more possibilities when a new generation of spatial computing is launched.
Furthermore, Qualcomm Technologies has contributed significantly to every major revolution in computing and has maintained leadership in key core technologies of the Metaverse such as 5G, AI, and XR.
As we enter a new era of spatial computing, the Snapdragon Metaverse Fund will empower and support innovation across the ecosystem through venture capital and funding for the content project developer ecosystem.
In addition, investee companies, and developers will have early access to leading XR platform technologies, hardware kits, global investor networks, and joint marketing and promotion opportunities. The application for the Snapdragon Metaverse Fund will be officially opened in June 2022.
