![[Toyota Times] Century as a Brand, Lexus as Innovation: All the Details on Toyota's New Project!](https://businessfortnight.com/wp-content/uploads/2025/10/Toyota-Times-Century-as-a-Brand-Lexus-as-Innovation-All-218x150.jpg "[Toyota Times] Century as a Brand, Lexus as Innovation: All the Details on Toyota's New Project!")
Hon’ble Union Minister of State Shri. Rajeev Chandrasekhar launched the program
XR Startup Program may have an Accelerator and a Grand Challenge. Focusing on startups in gaming and leisure utilizing XR applied sciences
10 early-stage startups will obtain INR 20 Lakhs every as grant by means of the accelerator program
20 innovators will obtain INR 50K every, prime 4 amongst that can obtain INR 20 Lakhs every as grant by means of the grand problem
HYDERABAD, India, Sept. 16, 2022 /PRNewswire/ — MeitY Startup Hub (MSH), an initiative of the Ministry of Electronics & Information Technology, GoI, and Meta, on 14 Sept 2022, introduced the launch of XR Startup Program to help and speed up XR know-how startups throughout India. This initiative, focuses on skilling and constructing technological capabilities for the metaverse and will assist form the ecosystem for the rising applied sciences, together with Augmented Reality (AR) and Virtual Reality (VR) in the nation.
IIIT Hyderabad Foundation (CIE) is chosen as one among the 4 implementation companions for the program throughout the nation.
The Accelerator Program will help 40 early-stage startups working in XR applied sciences with a grant of Rs 20 lakhs every. Further, the Grand Challenge will encourage early-stage innovators in sectors like Education, Learning & Skills, Healthcare, Gaming & Entertainment, Agritech & Climate Action and Tourism & Sustainability. For the grand problem the innovators will likely be offered help to upscale from the R&D section to growing workable merchandise and providers. At first, 80 innovators will likely be shortlisted to attend a bootcamp, out of which, a complete of 16 innovators will likely be offered grants of Rs 20 lakhs every and additional help to assist them develop Minimum Viable Product (MVP)/ prototypes.
Speaking on the event, the Union Minister of State for Electronics & Information Technology, and Skill Development & Entrepreneurship, Shri Rajeev Chandrasekhar stated, “It is an important day in terms of achieving Prime Minister Shri Narendra 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 area of Metaverse which is an important part of emerging future of the internet. I look forward to the collaboration with Meta and I hope it provides the necessary impetus towards fueling the growth of investments in future technologies in line with the government’s vision for making India a trillion-dollar economy by 2025.”
Speaking on how the Digital India Programme launched in 2015 has remodeled citizen’s lives, governance and democracy, catalysed India’s Digital economy and created vital capabilities in rising applied sciences, the Minister stated, “According to PM’s Digital India vision, it is clear that India is no longer going to be a consumer of technology but become a leader in producing emerging technologies.”
Emphasising on the potential of Indian Startups from tier 2/3 cities and how the Narendra Modi authorities is dedicated in encouraging them, the Minister additional 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, Metaverse etc. and will shape the future of technology and the internet for India and the world.”
Sharing his views on the collaboration, Mr. Joel Kaplan, Vice President, Global Policy, Meta, stated, “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.”
The use circumstances that IIITH will likely be focusing are from gaming and leisure domains. Startups will likely be benefited with mentorship by business specialists, IIITH know-how help and analysis join as effectively as alternative to current at business occasions. Extended Reality comes from the mixture of AR, VR and MR applied sciences. Gaming in the metaverse helps the person expertise the recreation in actual time whereas additionally permitting them to work together higher with different players in a multiplayer atmosphere. VR additionally helps the gamer management the playable characters higher unlocking the full potential of gaming.
“The XR Startup Program could be a breakthrough to the quicker integration of AR and VR technologies in the entertainment and gaming industry. This will give lot of boost to early stage companies since they will be getting help from their established counterparts through funding and mentoring,” stated Anubhav Tiwari (Head DeepTech and MedTech Incubator, CIE, IIIT Hyderabad Foundation)
XR applied sciences are set to redefine how we see the leisure business. Users can be part of digital live shows or host digital events. Movies might be made way more immersive with the XR applied sciences. Sports broadcasting might be utterly reinvented with individuals with the ability to truly go to stadiums nearly. The use circumstances of this know-how go a lot past what we are able to think about. Classrooms might be delivered to life with simulations of what’s being taught and social media can go as far as letting individuals meet in the digital world and enable first particular person interplay with one another.
For the XR Startup Program, different implementation companions together with IIITH Foundation (CIE) are 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.
About CIE@IIITH
CIE@IIITH, additionally recognized as CIE (Centre of Innovation and Entrepreneurship) is a DST authorized incubator operational since 2009. CIE@IIITH has to this point supported round 160 startups and has seed-funded 18 startups, 80% of that are money constructive. CIE@IIITH was additionally instrumental being the kiln of the initiatives that culminated into the basis of T-Hub. Along with developments in AVISHKAR, CIE@IIITH can also be specializing in turning a brand new leaf by way of infrastructure amenities, programmes and startup engagements focusing in direction of constructing a deep tech startup ecosystem. New working areas are launched, seed funding programmes, structured workshops and mentoring alternatives and know-how switch facilitation are additionally being deployed now.
Visit https://cie.iiit.ac.in/ for extra particulars.
Photo: https://mma.prnewswire.com/media/1900542/XR_Startup_Program_Launch.jpg
Logo: https://mma.prnewswire.com/media/1900509/IIITH_Logo.jpg
