Source: The post is based on the article “MeitY Startup Hub and Meta shortlists 120 Startups and Innovators for the XR Startup Program” published in PIB on 27th January 2023
What is the News?
MeitY Startup Hub(MSH), an initiative of the Ministry of Electronics & Information Technology (MeitY) and Meta have announced the list of 120 startups and innovators for the XR Startup Program.
What is an XR Startup Program?
Launched in: 2022
Launched by: MeitY Startup Hub(MSH), an initiative of the Ministry of Electronics & Information Technology (MeitY) and Meta.
Aim: To discover, nurture, and accelerate Extended Reality (XR) technology startups and innovators across India.
Segments: It includes two segments namely:
Accelerator Challenge: 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 lakhs, mentorship by industry experts and researchers, access to a network of potential strategic partners and investors and opportunities to participate and present at relevant industry events.
Grand Challenge: It will encourage early-stage innovators in sectors like Education, Learning and Skills, Healthcare, Gaming and Entertainment, Agritech & Climate Action and Tourism & Sustainability.
– The innovators will be provided support to upscale from the R&D phase to developing workable products and services.