Startup incubator T-Hub in partnership with Facebook has launched the India Innovation Hub Accelerator Programme to foster innovation in Augmented Reality/Virtual Reality (AR/VR) space.
T-Hub and Facebook will aid the selected startups working in the field with cutting edge technology to scale using innovation programmes, global outreach, and technology depth.
Startups, 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 programme.
The startups selected as part of this programme will have an opportunity to work and scale up under the aegis of Facebook.
The startups 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.
Also, the qualified startups will be directly accepted to the FB Start programme and could access T-Hub's network of mentors, industry experts, investors, service providers, and community/ecosystem. Jay Krishnan, CEO, T-Hub, said,
The Indian AR/VR market yet nascent is expected to grow at a compound annual growth rate (CAGR) of 76 percent over the next five years, fuelled by demand from business and consumer sectors. Our intent, as an ecosystem enabler is to partner with pioneers like Facebook and explore new frontiers that are relevant for India like healthcare, education, etc., with AR/ VR and XR.
"Through our Accelerator Programme with T-Hub, we want to provide the right support, training and mentorship to the start-ups," said Satyajeet Singh, Head of Platform Partnerships, Facebook India and South Asia.