Qualcomm Launches $100M Snapdragon Metaverse Fund
Mar 21, 2022
The Snapdragon™ Metaverse Fund is designed to be a launchpad for extended reality (XR) developers and companies building the foundational technologies and content ecosystem to enable the metaverse. The fund is aligned with a number of industry-defining efforts the company has developed including a portfolio of Snapdragon® XR Platforms, Snapdragon Spaces™ XR Developer Platform, and XR Labs Europe – all to strengthen the XR ecosystem. Qualcomm Incorporated (NASDAQ: QCOM) today announced the launch of the Snapdragon Metaverse Fund, established to invest up to $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. 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.
"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,” said Cristiano Amon, president and CEO of Qualcomm Incorporated. “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.”
Qualcomm Technologies has been a key contributor in every major computing evolution and is a leader in core technologies such as 5G, AI and XR – all of which are critical to the metaverse. As we enter the new era of spatial computing, the 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, 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.
Companies and developers who are interested to learn more can visit qualcomm.com/metaverse-fund. Applications for the Snapdragon Metaverse Fund will officially open in June.
Stay up to date with the latest industry developments: sign up to receive TelecomTV's top news and videos plus exclusive subscriber-only content direct to your inbox – including our daily news briefing and weekly wrap.