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Qualcomm is interested in promoting the Chinese XR industry and has set up an investment alliance of 23 partners for this very purpose. XR Industry Investment Alliance

Qualcomm announced the establishment of the “XR Industry Investment Alliance” yesterday at the Qualcomm XR Ecological Partner Conference 2021 in Qingdao. The alliance aims to promote the innovation of Chinese XR industry and build a strong XR ecosystem according to a Qualcomm blog post . The risk capital in the investment appliance is intended to support promising XR startups in commercializing their products.

In the blog post, Qualcomm notes that XR has made some great strides in the recent years and that the company expects the technology to develop at a rapid pace in the future. Qualcomm notes that drawing on wireless technology, XR has the potential to become one of the most popular breakthrough computing platforms in the world. A Big Investment Alliance

The Qualcomm investment alliance has already attracted 2 partners. Other major tech players have also been invited to join the alliance.

The list of partners includes the investment arms of some of the Asian tech giants such as Samsung, Tencent, Xiaomi, and Lenovo. Also joining the alliance are some well-known Silicon Valley investors like Sequoia Capital. The alliance did not reveal the size of its fund.

Here is the list of the alliance partners: Hillhouse Capital