Home   »   Business Current Affairs & News   »   Meta Launches $250K Mixed Reality Fund...

Meta Launches $250K Mixed Reality Fund for 5 Indian Startups

Meta has announced the launch of a new Mixed Reality (MR) program in India, offering a $250,000 award to support homegrown startups and developers in building applications and experiences. The program aims to foster innovation and establish a national XR technology ecosystem, with selected participants receiving monetary grants, mentoring from Meta Reality Labs specialists, and the opportunity to join Meta’s growing developer ecosystem.

Building the XR Ecosystem in India:

Sandhya Devanathan, VP for Meta in India, expresses Meta’s commitment to building the XR ecosystem in India. The Presence Platform, an integral part of Meta’s metaverse vision, aims to enhance virtual experiences and make them more accessible.

Monetary Grant and Mentorship:

The program will select up to five Indian developers and startups to receive a monetary grant, along with top-notch mentoring and guidance from Meta Reality Labs specialists. Selected participants will also have the opportunity to upload their products to Quest App Lab and gain exposure within Meta’s developer ecosystem. Additionally, Meta plans to provide introductions to prominent local venture capital funds for selected startups at the end of the program.

Accelerating VR and MR Adoption:

Meta believes that the fund and program will accelerate the creation and adoption of VR and MR experiences in India, giving Indian developers a platform to showcase their innovations on a global scale. The program is open to both established and new startups and developers, encouraging them to experiment with the capabilities of the Presence Platform.

Incorporating Meta’s Capabilities:

Selected developers will be required to incorporate various features into their new or existing Meta Quest apps. These features include Passthrough, Scene Understanding, Spatial Anchors, Shared Spatial Anchors, Voice SDK, Text to Speech, Interaction SDK for Hand Tracking, and Social Presence APIs.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

Find More Business News Here

Meta Launches $250K Mixed Reality Fund for 5 Indian Startups_40.1

Meta Launches $250K Mixed Reality Fund for 5 Indian Startups_50.1