Meta launches a $250k Mixed Reality fund for Indian startups, developers

Social networking giant Meta has announced a new Mixed Reality programme in India along with a grant of $250,000 for homegrown startups and developers to build apps and experiences for its virtual reality headset Meta Quest Platform.

The fund seeks to nurture innovation and build an ecosystem of XR technologies in the country, the company said. 

“Meta is committed to building the XR ecosystem in India. The Presence Platform is an integral part of the metaverse vision, aiming to make virtual experiences more tangible and accessible,” said Sandhya Devanathan, Vice President for Meta in India.

Under the programme, up to five Indian developers and startups will receive a financial grant, along with dedicated mentoring and guidance from the Meta Reality Labs experts.

“They will also have an opportunity to upload their product to Quest App Lab and become part of Meta’s growing developer ecosystem. Selected startups will also get an introduction to leading local venture capital funds at the end of the programme,” Meta said in a press note. 

It further added that the fund and programme will accelerate the creation and adoption of VR and MR experiences in the country and give Indian developers an opportunity to go global with their innovations. 

The programme is now open for applicants across India.