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New York Is Planning to Juice Its VR Industry With a Splashy New Lab
To spur job growth in virtual reality and augmented reality startups.
Companies like Facebook, Google, and Microsoft have spent years proclaiming that technologies like virtual and augmented reality represent the future of how we live and work. While teachers and doctors are already experimenting with such technology, VR and AR devices still have a ways to go before they're as ubiquitous as smartphones and tablets.
Local organizations in New York City are hoping to accelerate that process. A new lab will soon launch in New York City designed to support growing startups working in the augmented and virtual reality fields, making it the first publicly-funded initiative of its kind in the U.S. It's a joint effort between the New York City Economic Development Corporation (NYCEDC) and the Mayor's Office of Media and Entertainment (MOME), which issues filming permits and facilitates film and media production throughout the city.
"We're on the cusp of growth, but we've identified these barriers to that growth ," Kate Daly, senior vice president of the NYCEDC's Center for Urban Innovation, told Fortune.
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