The company is now focused on the Metaverse and the journey to build immersive XR digital experiences
Qualcomm has launched the Snapdragon Metaverse Fund to accelerate the metaverse content ecosystem and the next generation of spatial computing. The USD100 million fund is aimed at helping innovative developers and companies building unique, immersive XR (extended reality) experiences, as well as associated core augmented reality (AR) and related artificial intelligence (AI) technologies.
The fund is aligned with Qualcomm’s industry-defining efforts to strengthen the XR ecosystem including a portfolio of Snapdragon XR Platforms, Snapdragon Spaces XR Developer Platform, and XR Labs Europe.
“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,” said Cristiano Amon, President and CEO, Qualcomm.
Applications for Qualcomm’s Snapdragon Metaverse Fund will officially open in June 2022. Qualcomm said that recipients may get 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.
The fund is anticipated to deploy capital via a combination of venture investments in leading XR companies by Qualcomm Ventures and a grant program by Qualcomm Technologies for developer ecosystem funding in XR experiences.