From Bitcoin to Virtual Reality: Boost.vc’s Shift in Focus
In a significant move, Boost.vc, a prominent startup accelerator, is diversifying its next cohort of startups. The accelerator, known for its expertise in building communities around emerging tech sectors, has decided to shift its focus from solely investing in Bitcoin-related startups to include those working on virtual and augmented reality.
A Conversation with Adam Draper
In an exclusive chat with TechCrunch last week, Boost.vc co-founder Adam Draper shared the accelerator’s reasoning behind this change. According to Draper, "We’re good at building communities around early tech sectors. We bring together investors, entrepreneurs, and builders, and by focusing investments on a category over time, we ourselves become experts in the subject, and thus more valuable to startups that might want to join."
After two and a half years of investing in Bitcoin-related startups, Draper explained that the team decided they didn’t need to limit their strengths to a single ecosystem. With this in mind, Boost.vc plans to accept a roughly equal number of virtual reality startup applications as those working on solving problems with Bitcoin.
Virtual Reality: The New Frontier
Boost.vc’s next cohort, or "tribe," of startups will receive mentorship from investors and entrepreneurs with experience in the virtual reality scene. Additionally, participating teams will benefit from free housing (for teams of 1-4 people) and $15-25,000 in capital in exchange for ~6% of their company.
As for the types of virtual reality startups that Boost.vc will be investing in, Draper clarified that they won’t be backing teams working on hardware. Instead, the accelerator is looking for companies building a software infrastructure around the creation and consumption of experiences in virtual reality.
Early Successes in Virtual Reality
Draper believes that outside of gaming, the earliest successful VR products will show up on Google’s Cardboard and Samsung’s Gear VR. With applications like Google’s Expeditions popping up, Draper expressed his excitement about the potential for VR and education technology.
Topics to Explore
- The Role of Boost.vc in Shaping Emerging Tech
- How does the accelerator plan to leverage its expertise in building communities around emerging tech sectors?
- What are the implications of this shift in focus for the broader startup ecosystem?
- Virtual Reality: The New Frontier
- What opportunities and challenges lie ahead for VR startups, particularly those focused on software infrastructure?
- How can investors and entrepreneurs best support the growth of the VR industry?
The Future of Virtual Reality
As Boost.vc embarks on this new chapter in its journey as a startup accelerator, it’s clear that virtual reality is poised to play a significant role in shaping the future of tech. With its commitment to supporting innovative startups and fostering community-building around emerging sectors, Boost.vc is well-positioned to make a meaningful impact in the world of VR.
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Conclusion
Boost.vc’s decision to diversify its next cohort of startups marks an exciting new chapter for the accelerator. As it shifts its focus towards virtual reality, Boost.vc is poised to play a significant role in shaping the future of tech.
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Conclusion
As we continue to navigate the ever-changing landscape of tech, it’s clear that virtual reality is poised to play a significant role in shaping its future. With Boost.vc at the forefront of this movement, there’s no shortage of exciting developments on the horizon.
By staying informed about these emerging trends and developments, you’ll be well-equipped to navigate the challenges and opportunities that lie ahead.
