Research out of the University of Pennsylvania’s Wharton School, led by Professor Ethan Mollick, revealed that, since its 2009 founding, Kickstarter has been used to raise $5.3 billion, leading to the creation of 8,800 new companies and non-profit organizations and generating 29,600 full-time and 283,000 part-time jobs. The study, funded in part by the Kauffman Foundation, relied on data from Kickstarter and only looked at successfully funded projects. Kickstarter had no involvement in the study. Continue reading Study Examines the Significant Impact of Kickstarter Projects

HTC helped put together the Virtual Reality Venture Capital Alliance, a coalition of 28 venture capital firms committed to investing $10 billion in virtual reality, augmented reality and mixed reality startups. Among the companies joining the consortium are Sequoia Capital, well known for investing in tech giants Apple and Intel; Matrix Partners; and 500 Startups. Prior to this, HTC — which created the Vive VR headset — had pledged more than $100 million to the nascent VR industry. HTC has since spun off Vive into its own separate company. Continue reading Virtual Reality Venture Capital Alliance to Support VR Startups

For those looking for an affordable VR alternative, RiftCat has been busy developing an app called VRidge that streams virtual reality games from a PC to a smartphone over Wi-Fi. The beta is currently available for Android, but the company is also working on an iOS version. The most recent update added support for SteamVR and Razer’s open source OSVR project. The implications could be significant, especially when considering the cost of investing in a high-end VR headset, such as the $600 Oculus Rift or $800 HTC Vive, both of which still require a powerful PC starting in the $1,500 range. Continue reading VRidge Streams VR from PC to Google Cardboard, Gear VR

Facebook, which just achieved a milestone of more than a billion daily users, has announced plans to share revenue with Facebook video content owners and launch a news app. The moves are aimed at keeping users on the platform as long as possible, and its competitors have the same goal in mind: Apple has its newsreader Apple News, partnering with The New York Times; Twitter Moments links tweets in a traditional story format; and Snapchat Discover app showcases stories from publishers including CNN, Vice, People and National Geographic. Continue reading Facebook Unveils Plan to Share Revenue with Video Creators

In GoPro’s first ever deal with an educational institution, the camera company and USC School of Cinematic Arts announced that USC students will receive help to distribute, monetize and promote content created with GoPro camera equipment. As part of the deal, GoPro will donate 150 cameras and accessories, and GoPro camera technology will be incorporated into the school’s filmmaking curriculum — including education, workshops and one-on-one tutoring — this fall. The cameras will also be used for gaming and VR. Continue reading GoPro and USC Ink Deal to Use Cameras for Film, Games, VR

Oculus is joining with a number of hardware partners — including Alienware, AMD, Asus, Dell, Intel and Nvidia — to introduce “Oculus Ready” PC systems optimized for the Rift. Starting at price points under $1,000, PCs featuring the certification are expected to hit the market next year and could be a major step toward the consumer adoption of virtual reality. Oculus CEO Brendan Iribe previously hinted that a complete Rift system, including a PC, would run about $1,500. Founder Palmer Luckey recently added that the Rift headset alone will cost more than the $350 developer kit. Continue reading Hardware Partners to Introduce “Oculus Ready” Certified PCs

Facebook introduced a new 360-degree spherical video feature this week for the social platform’s newsfeed. At launch, users can roam an immersive trailer for “Star Wars: The Force Awakens” by dragging their mouse over the video in order to access different vantage points. Mobile users can change their angle within clips featuring NBC’s “Saturday Night Live” and workouts by NBA star LeBron James by simply tilting their smartphone or swiping their finger across the screen. Continue reading Facebook Betting On VR with New 360-Degree Video Feature

As interest in virtual reality heats up across industries, a number of international media players — including Disney, Sky, Axel Springer, ProSiebenSat.1 Media, China Media Capital and Evolution Media Partners (backed by TPG and Creative Artists Agency) — are investing $65 million in Palo Alto-based VR startup Jaunt. The investment follows other high-profile moves in immersive tech: Google joined venture funds in investing $542 million in Magic Leap last year, and Oculus VR raised $75 million before Facebook picked up the company for $2 billion. Continue reading Investment from Media Firms Brings Jaunt’s Funding to $100M

With the acquisition of Pebbles Interfaces, Oculus VR is poised to replace its Touch controller with hand-sensing technology that allows users to interact directly with the virtual world. This is Oculus’ latest acquisition this year of companies offering expertise in tracking and 3D mapping. Pebbles’ technology, based on custom optics, sensor systems and algorithms, tracks hand movement in real space, with detailed mapping of where each hand is in relation to the other. The terms of the purchase were not announced. Continue reading Oculus Acquires Technology That Enables Direct VR Interaction

Augmented reality systems with technology that overlays digital interfaces onto the physical world may eventually edge out virtual reality and significantly impact human perception. While VR products such as Oculus Rift, Gear VR and HTC’s Vive get closer to launch, timelines for augmented reality devices such as Microsoft’s HoloLens and Google-backed Magic Leap remain vague. However, some believe AR is more likely to become integrated into our everyday activities and subsequently affect the way we interact, work and communicate. Continue reading Augmented Reality on Track to Transform Our Everyday Lives

More than 3,000 attendees and 200 exhibitors gathered in Santa Clara this week for the Augmented World Expo, now in its sixth year. The event, which has grown ten-fold since its inception, featured demos involving VR headsets, enhanced glasses, product-scanning apps and brain-scanning headbands. According to a recent Digi-Capital report, augmented and virtual reality is projected to reach $150 billion in revenue by 2020 (when AR is expected to dominate 80 percent of the market). AWE founder Ori Inbar believes “2016 will be the year of shakeups and mergers.” Continue reading AR/VR Leaders Imagine the Future at Augmented World Expo

Oculus Story Studio, a lab program within Oculus VR dedicated to experimentation with the goal of helping virtual reality grow as a platform, is using “Lost Director’s Cut,” a new version of the studio’s short VR film as the basis for a new social experience that promises to change the paradigm of VR experiences from solitary to shared. The purpose of the new demonstration is to show filmmakers and other creatives how far they can push virtual reality beyond current single-person, isolated experiences. Continue reading Oculus Story Studio Explores Ways to Make VR More Social

Oculus VR announced yesterday that the company plans to ship its Oculus Rift headset by Q1 2016. Pricing and tech details have yet to be released, but consumers will be able to place pre-orders during the 2015 holidays. The virtual reality device, which has only been available for developers thus far, will need to be used with a PC. Both Palmer Luckey, the founder of Oculus, and Facebook, which acquired the company last year, expected to launch the headset earlier. However, the team has faced challenges regarding some of the system’s requirements. Continue reading Oculus Rift VR Headsets Will Begin Shipping Early Next Year

The wide consumer release of virtual reality headsets from companies such as Oculus VR has been stalled by ongoing development and additional upgrades. Some VR makers have attributed the delay to motion sickness experienced by some users. While Oculus and other companies have promised to have their products ready by the end of this year or early 2016, game developer Valve says it has already developed a solution to the discomfort caused by VR headsets. Continue reading Valve May Have Solved Motion Sickness Problems Related to VR

The Consumer Electronics Association’s Director of Business Intelligence Jack Cutts is the organization’s lead analyst on smart eyewear, watches, glasses and phones. He released his forecast figures for the category of wearables — here defined as fitness trackers, smartwatches and smart eyewear (plus any device worn in, on or around the eyes). When will wearables go mainstream? This is one of the issues that Cutts’ data revealed, starting with the current market and out to 2018 and beyond. Continue reading CEA Exec on the History and Direction of Wearables (Part 1)