MeitY Startup Hub and Meta launch XR Startup Program in a Bid to Boost Extended Reality Technologies in India

MeitY Startup Hub and Meta will shortlist 80 innovators and select 16 for further support contributing to the advancement of the XR technology ecosystem

MeitY Startup Hub (MSH), an initiative of the Ministry of Electronics and Information Technology (MeitY), and Meta announced the launch of an accelerator programme to support and accelerate XR technology startups across India. This initiative, XR Startup Program focuses on skilling and building technological capabilities for the metaverse, and will help shape the ecosystem for these emerging technologies, including Augmented Reality (AR) and Virtual Reality (VR) in the country.

Speaking on the occasion, the Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology, and Skill Development and Entrepreneurship, Rajeev Chandrasekhar has said, “It is an important day in terms of achieving Prime Minister Shri Narendra Modi ji’s vision of making the next 10 years as India’s Techade - full of opportunities for young Indians. It is also an important milestone in area of Metaverse which is an important part of emerging future of the internet. I look forward to the collaboration with Meta and I hope it provides the necessary impetus towards fueling the growth of investments in future technologies in line with the government vision for making India a trillion-dollar economy by 2025.”

The Accelerator Program will support 40 early-stage start-ups working in XR technologies with a grant of Rs 20 lakhs each. Further, the Grand Challenge will encourage early-stage innovators in sectors like Education, Learning and Skills, Healthcare, Gaming and Entertainment, Agritech and Climate Action and Tourism and Sustainability. The innovators will be provided support to upscale from the R&D phase to developing workable products and services. 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 lakhs each and further support to help them develop Minimum Viable Product (MVP)/ prototypes.

The XR Startup Program is supported by Meta’s XR Programs and Research Fund, a two-year $50 million investment in programs and external research with industry partners, civil rights groups, governments, nonprofits and academic institutions.