"The Garage enables companies to have a global advantage from day one, and that is hugely important in this fast-paced technology sector," O'Riley said.
"They can scale up much faster, connect with the big international industry players, and showcase their work to major international tech investors," he said.
"While the Garage is a great boost for Auckland's world-leading screen, digital and creative content industries, VR is becoming a crucial enabling platform for a whole range of sectors, including skills training and education. The future is definitely now."
The AR/VR Garage is part of a global group, the VR Society, and will be the Oceania base for the organisation. The Society last year secured more than US$170 million for its global members.
The facility already has a rapidly increasing commercial pipeline with more than 15 projects, some of which already have international partners and working to solve global challenges.
The innovation hub already has ten tenant companies, and will have another ten by the end of October.
Partners of the facility have enabled its tenants to have subsidies access to technology and tools, connect with potential working partners and source local and international contracts.
The AR/VR Garage was officially opened by Minister for Science and Innovation Steven Joyce, and Auckland Mayor Len Brown.