Facebook parent Meta launches startup accelerator with India’s IT ministry in metaverse push

Meta Platforms is looking at India as a way to bolster its bet on the metaverse. The Indian IT Ministry's startup hub has formed a partnership with the social powerhouse to launch an accelerator in the country to broaden innovation in emerging technologies.

40 early-stage startups will be helped in research and development and developing workable products and services by the startup program. A grant of over $25,000 will be given to each startup.

The program is supported by Meta's $50 million xr programs and research fund. Meta said that it will help startup with raising funds.

The program is meant to encourage technology innovation in smaller cities and towns according to the Minister of State for Electronics and Information Technology.

Meta is participating in the South Asian market's upskilling efforts with the launch of the XR startup program. The Central Board of Secondary Education, a government body that oversees education in private and public schools in the country, collaborated with the firm to create a curriculum on digital safety and online well-being.

The grand challenge for innovation in categories such as education, healthcare, entertainment, agritech, climate action, and tourism will be hosted by the program.

Future technologies will be defined by India. Global discussions on how technology can deliver more economic opportunity and better outcomes are shaped by decisions and investments made in India. The VP of Global Policy at Meta said in a statement that it was critical that India's tech startups and innovators were able to build the foundation of the metaverse.

Meta is interested in working with India's startup community. The company has supported three startup in the country.

India has a lot of tech talent and is in a good position to shape the future of the internet.

It will require active participation from all stakeholders in order to be equitable. We hope that the XR startup program will act as a catalyst tounlock the use of immersive technology across sectors such as education, healthcare, agritech and tourism, not only in India but across the globe.