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HomeNewsMeta Introduces $250,000 Mixed Reality Fund for 5 Indian Startups

Meta Introduces $250,000 Mixed Reality Fund for 5 Indian Startups

The fund aims to support creativity and create an ecosystem for extended reality (XR) technology in the nation.

On Wednesday, Meta revealed a brand-new mixed reality (MR) programme for India that includes a $250,000 award for local companies and developers to create experiences and apps. According to a statement from the corporation, the fund aims to support creativity and create an ecosystem for extended reality (XR) technology in the nation.

The fund, according to the company, will assist developers in creating apps for the Meta Quest Platform and metaverse using Meta’s Presence Platform, which offers a wide range of machine perception and AI capabilities.

A chosen group of up to five Indian businesses and developers will benefit from the program’s financial grant as well as specialized mentoring and advice from the specialists at Meta Reality Labs. They will also have the chance to join Meta’s expanding developer ecosystem by uploading their creation to Quest App Lab, according to Meta.

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At the conclusion of the programme, the top local venture capital funds will be introduced to the startups who made the short list. The fund is already accepting applications, encouraging established and up-and-coming entrepreneurs and developers to test out the capabilities of the Presence Platform.

“Meta is dedicated to creating the India XR ecosystem. According to Sandhya Devanathan, vice president for Meta in India, “The Presence Platform is a key component of the metaverse vision, seeking to make virtual experiences more tangible and accessible.”

“We think that this fund and programme will hasten the development and uptake of VR and MR experiences in the nation and provide Indian developers with a chance to make their innovations global,” Devanathan continued.

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Sahil Pawar
Sahil Pawar
I am a graduate with a bachelor's degree in statistics, mathematics, and physics. I have been working as a content writer for almost 3 years and have written for a plethora of domains. Besides, I have a vested interest in fashion and music.

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