Meta & MeitY to Support 40 Early-Stage Extended Reality Startups In India

Updated: Sep 18






Meta has been single handedly driving the virtual reality #metaverse industry, from the acquisition of Palmer luckey's Oculus to pumping $ 10 Billion for the Metaverse, we at #xrom hope #meta launches Oculus Quest in India as it will help both the enterprise as well as consumers leverage the benefits of Virtual Reality.


Meta in partnership with MeitY- The Ministry of Electronics & Information technology's startup hub signed an agreement to launch an accelerator programme to offer grants to startups building services for the metaverse, #extendedreality #startups.


Extended Reality is an umbrella term for Virtual Reality, Augmented Reality & Mixed Reality

Metaverse is imagined to be the next iteration of the internet, a virtual world which would be interoperable, persistent , Immersive underpinned on #ar #vr #mr #5g #ai #blockchain #nft #cryptocurrencies.



The programme will support 40 early-stage startups working in extended reality (XR) technologies with a grant of Rs 20 lakh each. At first 80 innovators will be shortlisted to attend a bootcamp, out of which, a total of 16 innovators will be provided grants of Rs 20 lakh each to aid them in developing prototypes.

The accelerator programme will be implemented by four institutions – International Institute of Information Technology, Hyderabad; AIC SMU Technology Business Incubation Foundation, Sikkim; Gujarat University Startup and Entrepreneurship Council, Gujarat; and Foundation for Innovation and Technology Transfer at IIT Delhi.

In addition to the accelerator program, Meta will also conduct a grand challenge for individual innovators from different sectors including education, healthcare, gaming and entertainment, agri-tech, tourism, and climate. These innovators will be given support to make their XR products ready for the market.

Both the accelerator and grand challenge will also help support startups and innovators to build customer connections, and acquire new partnership and funding opportunities


This collaboration is part of the government's efforts to educate people about emerging and future technologies. With a large talent pool of creators and develop..



“India’s rapid tech adoption combined with a vast pool of tech talent puts the country in a vantage position for shaping the future of the internet. For this future to be equitable, it will require active participation from all stakeholders, including developers, businesses, creators, policymakers, and entrepreneurs,” said Ajit Mohan, vice president, and managing director at Facebook India (Meta).

Mohan pointed out that the XR Startup Program will act as a “catalyst to unlock the use of immersive technology” across multiple sectors for India and the world.

According to Meta, the startup program is supported by the company’s XR Programs and Research Fund, which has committed $50 million in investment over two years in collaboration with industry partners, governments, nonprofits, and academia.


If you are an XR startup, click the link to apply

https://meitystartuphub.in/public/xr-startup-program/

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