The New York City Government has built its own VR/AR lab to challenge Silicon Valley status
The New York City Economic Development Corporation (NYCEDC) and the Mayor's Office of Media and Entertainment (MOME) announced yesterday that they will spend $6 million to build a VR/AR lab, the first time they have invested in VR/AR on the East Coast of the United States.
The decision was made because of the need for vr technology development. The VR/AR industry in New York City has invested more than $50 million in the past year and increased work demand by 125%. The lab will be the first institution of its kind in the United States to invest publicly. Architectural design companies like Gensler, NBBJ and California's Özel have begun using virtual reality (VR) technology.
One of the purposes of establishing VR/AR is to challenge Silicon Valley, the opponent on the West Coast of the United States. NYCEDC and MOME will issue bid applications early next year, using the New York lab as an incubator for VR and AR companies, making the lab a place for talent gathering in the VR/AR industry. It is understood that after the completion of the laboratory, it will become the main “distribution center†of VR/AR companies in the five administrative districts of the city. In addition to providing space for activities, it will also assist startups in financing, training, research and development of new technologies and product display purposes.
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