MeitY Startup Hub and Meta launch XR startup program
The XR Startup Program was jointly launched by MeitY Startup Hub and Meta to create the next generation startups focusing on Extended Reality Technologies.
- The XR Startup Program is an accelerator program aimed at supporting and accelerating extended reality (XR) startups in India.
- This newly launched initiative would focus on skilling and building technological capabilities for metaverse and help promote emerging technologies such as Augmented Reality (AR) and Virtual Reality (VR) in India.
- This initiative would provide assistance to 40 early-stage startups working in the extended reality technologies by providing a grant of Rs.20 lakh each.
- A Grand Challenge would be organized to encourage early-stage innovators in sectors such as education, learning and skills, healthcare, gaming and entertainment, agri-tech and climate action and tourism and sustainability.
- It would also support startups and innovators by establishing consumer connections, partnership opportunities and fundraising.
- Innovators would be provided assistance to upscale from the research and development phase to create workable products and services.
- Under this initiative, 80 innovators would be shortlisted to attend a bootcamp. Of these 16 would be provided grants to develop minimum viable products/prototypes.
- The program would be implemented by 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), IIT Delhi, New Delhi.
- It would be financially backed by Meta’s XR Programs and Research Fund – a two-year investment in programs and research with industry partners, civil rights groups, governments, NGOs and academic institutions.
MeitY Startup Hub
MeitY Startup Hub (MSH), an initiative of the Ministry of Electronics & Information Technology (MeitY), aims to achieve the Indian Government’s goals of promoting technology innovation, startups and creation of intellectual properties. This nodal agency would act as a national coordination, facilitation and monitoring centre that will integrate all incubation centres, startups and innovation-related activities of the MeitY.
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