Extended Reality (XR) Startup Program

About Extended Reality (XR) Startup Program:

• The XR Startup Program is collaboration between Meta and MeitY Startup Hub (MSH). 
• Aim: To accelerate India’s contribution towards building the foundations of the metaverse and nurturing the development of Extended Reality (XR) technologies in India.
• It includes two segments namely; an Accelerator and a Grand Challenge
• Accelerator: 
  • The Accelerator will nurture and foster 40 early-stage startups working with XR technologies through a well-designed 6-month program. 
  • Each startup will get access to many benefits, including a grant of ₹ 20,00,000, mentorship by industry experts and researchers, access to a network of potential strategic partners and investors, technology and infrastructure support, and opportunities to participate and present at relevant industry events.
• Grand Challenge:
  • The Grand Challenge is aimed at supporting early-stage innovators to upscale from the R&D phase to developing workable prototypes and Minimum Viable Products (MVPs).
  • It will encourage early-stage innovators in sectors like Education, Learning and Skills, Healthcare, Gaming and Entertainment, Agritech & Climate Action and Tourism & Sustainability.
  •  It will include 4 sector-specific challenges to advance the XR technology ecosystem in India. 
  • A total of 80 shortlisted innovators will receive a grant of ₹ 50,000 and an opportunity to attend the boot camp. 
  • Of the 80 shortlisted innovators, 16 innovators will be supported with grants worth ₹ 20,00,000 to help them develop MVP(s)/ prototypes.

 

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Q1) What is Metaverse?

The metaverse is the emerging 3-D-enabled digital space that uses virtual reality, augmented reality, and other advanced internet and semiconductor technology to allow people to have lifelike personal and business experiences online.

Source: MeitY Startup Hub and Meta shortlist 120 Startups and Innovators for the XR Startup Program