NYC Economic Development Corporation to Open an Incubator for VR/AR Businesses

Published by , December 19, 2016 3:38 am

(ArchitectsNewspaper)  the New York City Economic Development Corporation (NYCEDC) and the Mayor’s Office of Media and Entertainment (MOME) yesterday announced that they will invest $6 million into a virtual reality (VR) and augment reality (AR) lab—the first of its kind on the East Coast. The NYCEDC and MOME are set to release a request for proposals early next year to set up and run the lab.
The lab in New York will serve as an incubator for VR/AR businesses. In a press release, the NYCEDC and MOME said that the city’s VR/AR industry has seen more than $50 million invested in the past year along with a 125 percent increase in job demand. In terms of operation, the lab will support the growth of VR/AR companies by providing space, infrastructure, and resources. Additionally, it will serve as a place for people involved in the industry to gather.

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