The startup creator fund that raised $10 million last year from a $30 million grant from the Honeymoon Fund will continue to receive federal funding, despite pressure from some California voters who say the fund has been a major waste of taxpayer dollars.
The $10-million funding from the California Taxpayer’s Association, known as the Taxpayer Fund for Innovation, will help fund new businesses and support startups that compete in a growing area of the economy, such as online retail and transportation services.
The fund’s first project will be a virtual reality game called VR-Oculus, which is being developed by the Los Angeles-based startup Oculus VR, which partnered with a group of California-based businesses to create a VR-like environment for consumers to explore a virtual world.
The money will also be used to fund a number of other projects, including a new app that is designed to be used in public transit to help people get around.
The app will allow users to find the closest subway station and ride there.
It’s a program that is already available in other cities, including Seattle, Boston, and Portland, Ore.
The funding will allow the startup to begin working with other startups and businesses, which will include helping them expand their businesses, said Jason Pappas, chief executive of the California Association of Business and Industry.
“This is a way to ensure the fund is focused on the kinds of startups that we need, to ensure it’s a way for the fund to remain focused on our core mission,” he said.
The California Taxpayers’ Association has been trying to block the fund, which has raised nearly $4.5 million so far from a variety of sources.
The Taxpayer and Public Trust Fund for Enterprise was established by California Gov.
Gavin Newsom in 2013 to support California startups, including the Honeymoons Fund, which was created in 2015 and has raised more than $20 million since then.
The first project under the fund will be an interactive online shop called VROculus that will let users explore virtual worlds and make purchases using the virtual currency of VR.
“The VROOCUS VR experience is designed specifically for users who want to explore new worlds and explore virtual experiences,” the developer told the Los Angelenos Register.
“Our goal is to provide a VR experience that people can actually use.”
The program is meant to encourage companies to invest in VR startups, and will be available to users of all ages.
“If you are not yet in the market for a VR game, we can help you understand what VR games are and how to make a VR gaming experience,” said the developer.
“Honeymoons is committed to supporting innovative, tech-based business models that will enable our state to thrive and grow,” Newsom said in a statement.
“This funding is a testament to the support of the voters of California, who have spoken loudly and clearly about the need for tax reform and innovative tech solutions for California businesses,” he added.
