By 2019, the Beidouwan VR Village is expected to house 50 companies to produce 1.5 million pieces of VR-related hardware equipment annually
China is one of the few countries in the world that promotes virtual reality technology at the state level.
Earlier in 2016, the Chinese government endorsed the formation of “The Industry of Virtual Reality Alliance”, and more recently, VR headset manufacturer HTC Vive has teamed up with China National Tourism Administration.
Now, the country is pushing even new boundaries by establishing a village with the entire infrastructure required for research, development, manufacturing and servicing support for virtual reality related industries.
Dubbed as Beidouwan VR Town, the village will be built by Guian New Area, China’s state approved national-level new area in Guizhou mid-Western China.
The VR village is expected to house 50 companies
According to the official statement, Beidou Bay VR will mainly integrate five functions including, industry planning & exhibition, scientific education & promotion, field trip & experiences, innovation & entrepreneurship, and a platform for trading and showcase.
By 2019, the village is expected to house 50 companies with total annual capacity of producing 1.5 million pieces of VR-related hardware equipment that creates an annual revenue of 1 billion yuan (USD $145,490 million), and 3,500 new jobs.
Grants and financial support will be provided
Under the initiative, Guian New Area officials will offer rewards and grants to support content development, investment ventures, and industrial incubators that set up in the new area.
A reward of RMB1 million (USD $145,390) will be available to Chinese organizations and research institutes that generate intellectual property with a value of RMB2 million (USD $290,782) or above.
A one-off grant of up to RMB5 million (USD $726,955) will be available to VR incubator support providers.
Officials say, the first phase of Beidouwan VR Town is due to complete in May, 2017.