XR Startup Program

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 and Virtual Reality in the country.

The program by MeitY and Meta 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 Minister of State for Electronics and IT and Skill Development and Entrepreneurship, Rajeev Chandrasekhar said, “It is an important day in terms of achieving Prime Minister Modi’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 the area of Metaverse which is an important part of the emerging future of the internet.”

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.

Emphasizing on the potential of Indian Startups from tier 2/3 cities and how the government is committed in encouraging them, the Minister further added, “Young Indian Startups, especially from tier 2/3 cities, will play a significant role in emerging tech areas like Web 3.0, blockchain, AI, and metaverse, and will shape the future of technology and the internet for India and the world.”

Joel Kaplan, VP- Global Policy, Meta, also said, “India will play a pivotal role in defining future technologies. Decisions and investments made here in India now shape global discussions on how technology can deliver more economic opportunity and better outcomes for people. It is critical that we help to create an ecosystem that will enable India’s tech startups and innovators to build the foundations of the metaverse.”

He noted the significant strides India has made under the Digital India Program and maintained that Meta is committed to partner with the Indian government in supporting next generation startups in Tier 2/3 cities.

India is one of the most vibrant markets due to its tech talent, entrepreneurial spirit and the fast-growing startup ecosystem. Technologists from Tier 2/3 cities in India will shape the future of Metaverse. Going forward, we are going to witness country specific Metaverse.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA