In a first bid to to foster innovation in Augmented Reality and Virtual Reality (AR/VR) space, T-Hub in partnership with Facebook today kick-started 'India Innovation Hub Accelerator Program'.
T-Hub, an incubator for startups, is an initiative by the Telangana Government.
According to an official release, the main agenda of the program is to discover amazing startups that are working in the field of AR/VR in the country and T-Hub and Facebook will aid the start-ups with cutting edge technology to scale using innovation programs, global outreach and technology depth.
Start-ups, which are in the space of AR/VR application to healthtech, industrial manufacturing, education, corporate learning and development, hardware and accessories positioning, gesture and eye tracking, mobile hardware and enablement, video processing, developer tools, camera, capture technology, can participate in this program, it said.
"The start-ups selected as part of this program will have an opportunity to work and scale up under the aegis of Facebook. The start-ups will be given an opportunity to develop Proof of Concept (PoC) on the prioritised solution and showcase their PoC to key executives of Facebook and T-Hub during the 'Demo Day' at T-Hub Hyderabad," it said.
Jay Krishnan, CEO, T-Hub, said, AR/VR today has started to gain traction in industries ranging from entertainment, gaming to communication and industry.
The Indian AR/VR market yet nascent is expected to grow at a compound annual growth rate (CAGR) of 76 per cent over the next five years, fuelled by demand from business and consumer sectors, he added.
Satyajeet Singh, Head of Platform Partnerships, Facebook India and South Asia said they understand the challenges that start-ups face to get their ideas off the ground and are committed to paving the way for the next generation of startup success in the country.
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