The opening ceremony of the Zhongguancun VR Industrial Park was held in Beijing on April 11.

Experts from the industry attended the ceremony and made keynote speeches, including HTC vice president Bao Yongzhe, Dell vice president Lin Hao, and Zhao Qinping, professor at Beihang University.

Zhongguancun VR Industrial Park, located in Zhongguancun Shijingshan Science Park in Shijingshan district of Beijing, aims to develop into a cluster for virtual reality industry spreading across 1.9 million square meters in three years.

So far, more than 40 companies have been introduced to the park, engaged in the fields of VR hardware R&D, content creation, software development and industrial application.

The park will promote the application of VR in many sectors such as e-commerce, digital entertainment, education, sports, construction, planning, tourism, conventions and exhibitions, medical care, manufacturing and military defense.

The park will give subsidies up to 10 million yuan ($1.45 million) to companies developing technological innovation that boost the development of the VR industry.

The establishment of the park conforms to Beijing government’s support policy for the virtual reality industry introduced last October.