HTC Signs Strategic Partnership with Shenzhen Municipal Government

HTC Signs Strategic Partnership with Shenzhen Municipal Government

SHENZHEN, China, Nov. 17, 2016 /PRNewswire/ HTC Corporation ("HTC"), a pioneer in innovative, smart mobile and virtual reality (VR) technologies, today signed a Strategic Partnership Agreement with the Shenzhen Municipal Government. Under the agreement, the Shenzhen Municipal Government will support HTC in setting up the China VR Research Institute and the two parties will work together to establish the 10 billion RMB Shenzhen VR Investment Fund. Mr. Xingrui Ma, Deputy Secretary of the Guangdong Provincial Party Committee and Secretary of the Shenzhen Municipal Party Committee, Mr. Qin Xu, Deputy Secretary of the Shenzhen Municipal Party Committee and Mayor of Shenzhen, other leaders from the Standing Committee of the Shenzhen Municipal Party Committee and the Shenzhen Municipal Government Office, Ms. Cher Wang, Chairwoman of HTC, Mr. David Chen, Chief Operating Officer and Chief Technology Officer of HTC, Alvin W. Graylin, China Regional President of HTC Vive, and Edward Chang, Head of HTC Research Lab, attended the signing ceremony.

Ms. Cher Wang said, "It is a great honor for us to enter into the Strategic Partnership Agreement with the Shenzhen Municipal Government. As a pioneer and market leader in the VR industry, HTC possesses groundbreaking innovative technology and expertise. We hope that we can take this opportunity to merge HTC's advanced technologies and first-class, global talents together with Shenzhen's local industry and academic institutes as organized and coordinated by the Shenzhen Municipal Government. Together, with this research institute's multiple R&D centers and bolstered by the support of industry alliances and the investment fund, we will accelerate the development of the VR industry in Shenzhen and elevate the city's R&D capabilities to an international level. We are dedicated to exploring the world of VR, and hope to usher in a new era together with Shenzhen."

With this strategic cooperation, HTC and the Shenzhen Municipal Government have constructed a profound partnership with deep roots. Shenzhen is the first city in China to be identified as a Special Economic Zone and has a history of independent innovation. It boasts a strong foundation for the electronic information industry, offering the complete industry chain, accessible services, and supporting facilities. This makes the city extremely globally competitive in terms of R&D, commercialization and international expansion. Within the VR industry alone, Shenzhen boasts many homegrown companies along various parts of the industry chain, from device manufacturing to content generation and distribution to application. In addition to a strong capacity for innovation, these companies seek to cooperate with fellow enterprises. From June to October this year, HTC assisted the Shenzhen Municipal Science and Technology Innovation Committee in creating the Action Plan for Promoting Technological Innovation and Industry Application in Shenzhen's VR Industry (2016-2020). This cooperation was instrumental in laying a foundation of collaboration for the future development of VR.

With the Strategic Partnership Agreement, Shenzhen Municipal Government will support HTC to form the China VR Research Institute and promote VR development together with the establishment of the Shenzhen VR Industry Fund.Under the Strategic Partnership Agreement, the Shenzhen Municipal Government will support HTC to form the China VR Research Institute and promote VR development together with the establishment of the Shenzhen VR Investment Fund. The partnership will leverage HTC's advantages in VR technology and talent while focusing on unleashing breakthroughs in the core technologies of sensors, display, graphics, data visualization, human-machine interaction and other related areas. It will also create an innovation system in which enterprises, universities, research institutes, and investment organizations all participate and drive the evolution of the ecosystem together. VR technology applications across various industries, such as healthcare, military, engineering, design, and manufacturing, will be highlighted.

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