March 21, 2022 – Qualcomm, a global provider of semiconductors and extended reality (XR) technology, has today announced the launch of the Snapdragon Metaverse Fund, established to invest up to USD $100 million in developers and companies building unique, immersive XR experiences, as well as associated core augmented reality (AR) and related artificial intelligence (AI) technologies.
Qualcomm stated that the Snapdragon Metaverse Fund is designed to be a launchpad for XR developers and companies building the foundational technologies and content ecosystem to enable the metaverse. The fund is also aligned with a number of industry-defining efforts that Qualcomm has developed including a portfolio of Snapdragon XR Platforms, Snapdragon Spaces XR Developer Platform, and XR Labs Europe – all to help strengthen the XR ecosystem.
The fund plans to deploy capital through a combination of venture investments in leading XR companies by Qualcomm Ventures and a grant program by Qualcomm Technologies, Inc. for developer ecosystem funding in XR experiences such as gaming, health and wellness, media, entertainment, education, and enterprise. Qualcomm Technologies has been a key contributor in every major computing evolution with the company providing core technologies across 5G, AI and XR – all of which are critical to the metaverse.
Commenting on the launch of the fund, Cristiano Amon, President and CEO of Qualcomm Incorporated, said: “We deliver the groundbreaking platform technology and experiences that will enable both the consumer and the enterprise to build and engage in the metaverse and allow the physical and digital worlds to be connected. Qualcomm is the ticket to the metaverse. Through the Snapdragon Metaverse Fund, we look forward to empowering developers and companies of all sizes as they push boundaries of what’s possible as we enter into this new generation of spatial computing.”
The company added that its Snapdragon Metaverse Fund will help enable and foster innovation across the entire ecosystem through venture investment and developer ecosystem grants for content projects. In addition, grant recipients may have the opportunity to gain early access to cutting-edge XR platform technology, hardware kits, a global network of investors, and co-marketing and promotion opportunities.
Applications for the Snapdragon Metaverse Fund will officially open in June. Companies and developers who are interested to learn more can visit qualcomm.com/metaverse-fund. For more information on Qualcomm and its extended reality technology solutions to help build the metaverse, please visit the company’s website.
Image credit: Qualcomm
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Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past seven years.