Meta and Meity Startup Hub Launch Extended Reality Facilitation Program to Help India Build XR Ecosystem and Build Metaverse Foundation

Meta (formerly Facebook) announced the launch of the extended reality promotion program "XR Startup Program" with Meity Startup Hub, an Indian entrepreneurial ecosystem, to promote India's extended reality (XR) ecosystem and help build the foundation of the Metaverse. The XR Startup Program is supported by the Meta XR Initiative and Research Fund, which aims to invest $50 million in Metaverse projects over two years. The XR Startup program includes an accelerator and a Grand Challenge to encourage innovations that may impact education, learning, healthcare, etc. The accelerator program will support 40 early-stage start-ups to build XR technology, and each company will receive 2 million rupees. funding. For the Grand Challenge, 80 early innovators will be shortlisted for the bootcamp and 16 of them will be given Rs 2 million to help them develop product prototypes.