Deutsche Telekom and lenses company ZEISS have extended their smart glasses partnership by setting up a joint venture to develop the technology.
The two companies now hold a 50 percent stake in tooz technologies, which will be located in the United States and Aalen, Germany.
The new venture will take control of the development of optical technology from ZEISS and connectivity from Deutsche Telekom.
Manufacturers of smart glasses will be able to get licences for tooz's technology, which the company said will be available in the medium term.
Since both companies started working together last year, they have developed applications via work with more than 40 partners across industry, commerce and science.
Christian Stangier, Senior Vice President of Connected Devices at Telekom, said: "The diverse and economically promising development projects have confirmed for us that there will be a market for smart glasses as well as for business and end consumers.
"These scenarios range from logistics and maintenance to fitness and health applications."
Ulrich Simon, Head of Corporate Research and Technology at ZEISS, said tooz would look to improve existing smart glasses technology by using the likes of microdisplay and electronics.
He said the goal was to help produce glasses that provide images, data and communication for people who need to their hands free.
"This could be in logistics, but also during surgery: the doctor will need numerous, individually selected pieces of information while still concentrating completely on what is happening in the OR," Simon explained.
"In retail, smart glasses will enable personalised shopping experiences as well as day-to-day applications: for example, navigation functions and social media will be available without needing to reach for your smartphone."
Edge computing will be used to transfer data from smart glasses to the cloud, which both companies said would reduce the size and weight of the spectacles as well as deliver lower latencies.
Stangier added: "If we want to experience real-time applications in the future, then we need cloud connectivity that is available everywhere.
"This is the only way to guarantee a high-speed reaction time.
"We are convinced that smart glasses will play a major role in the years ahead.
"Edge computing is a key step to achieving this breakthrough for smart glasses."