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Friday, June 14, 2024

Facebook’s owner Meta partners with MeitY to support India’s XR tech companies

The Ministry of Electronics and Information Technology (MeitY) and Facebook’s holding company, Meta, have announced the list of 120 startups and innovators for the XR Startup Programme in New Delhi. The Programme includes an Accelerator and a Grand Challenge, aiming towards boosting the emerging Tech ecosystem in the country.

The Ministry of Electronics and Information Technology (MeitY) and Meta unveiled the selection of 120 entrepreneurs and innovators for the XR Startup Programme in New Delhi. The Program comprises an Accelerator and a Grand Challenge aimed at bolstering the country’s burgeoning tech industry.

Over 30% of the firms chosen for the Accelerator Programme are from tier II or tier III locations in India. In addition, women-led or co-led Startups and Innovators account for more than 20% of the cohort. The initiative will identify, develop, and advance Extended Reality (XR) Technology firms and innovators across the country.

It is providing a grant of 20 lakh rupees to each of 40 early-stage start-ups working on XR technology. Innovators will also be assisted in progressing from the R&D phase to the development of marketable products and services.

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