MeitY-Meta to support 40 early-stage start-ups working in XR technologies, to offer Rs 20 lakh each

To create next-generation startups in extended reality (XR) technologies, MeitY Startup Hub (MSH), an initiative of the Ministry of Electronics & Information Technology (MeitY) and Meta, has launched an accelerator programme to support XR technology startups across India.

This initiative will focus 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.

The 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, agri-tech 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 boot camp, 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.

Emphasising the potential of Indian startups from tier two and three cities, Minister of State for Electronics & Information Technology, and Skill Development & Entrepreneurship,  Rajeev Chandrasekhar said: "Young Indian Startups, especially from tier 2/3 cities, will play a significant role in emerging tech areas like Web 3.0, blockchain, AI, Metaverse, and will shape the future of technology and the internet for India and the world."

The Accelerator and Grand Challenge will also support start-ups and innovators by establishing customer connections, partnership opportunities, and fundraising among other things.

The XR Startup Program will be implemented by four institutions - 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.

The XR Startup Program is supported by Meta’s XR Programs and Research Fund.  

An important milestone in the area of Metaverse, the initiative can also  fuel the growth of investments in future technologies in line with the government vision for making India a trillion-dollar economy by 2025

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