For the creation of next Generation Startups in Extended Reality Technologies, the Ministry of Electronics & Information Technology (MeitY) together with Meta launched an accelerator program. The program will accelerate XR technology startups pan India. XR Startup Program focuses on building technological capabilities in addition to skilling. It will help in shaping the ecosystem for emerging technologies that includes Augmented Reality and Virtual Reality in the country.
The XR Startup Program is supported by Meta’s XR Programs and Research Fund. Rajeev Chandrasekhar, the minister of state for skill development and entrepreneurship of India, said India will become a leader in Producing Emerging Technologies.
According to Joel Kaplan, Vice President, Global Policy, Meta India will play a pivotal role in defining future technologies. Apart from accelerator program, a grand challenge will support innovators and start-ups with establishing partnership opportunities, customer connections and fundraising, etc.
Over 40 early-stage start-ups working in XR technologies will gain support by the Accelerator Program with a grant of Rs 20 lakh each. The Grand Challenge will further encourage early-stage innovators across various sectors comprising Healthcare, Education, Gaming & Entertainment, Learning & Skills, Tourism & Sustainability, Agritech & Climate Action, etc.Among the innovators first 80 innovators will be eligible to attend a bootcamp.
A total of 16 innovators among them will also be provided grants of Rs 20 lakhs each apart form support in developing Minimum Viable Product (MVP)/ prototypes in addition to gaining support in upscaling from the developing workable products and services.
Implemented by IIT Delhi, New Delhi, International Institute of Information Technology – Hyderabad Foundation, Hyderabad, Telangana (CIE IIIT-H), AIC SMU Technology Business Incubation Foundation (AIC-SMUTBI), Rangpo, Sikkim; Gujarat University Startup and Entrepreneurship Council (GUSEC), Ahmedabad, Gujarat and Foundation for Innovation and Technology Transfer (FITT), the XR Startup Program will enable the startups across the length and breadth of the country.