Hyderabad: To promote innovation in the augmented reality(AR) space and virtual reality(VR), T-Hub has merged with Facebook to start India Innovation Hub Accelerator Programme. The programme will give startups working in the AR/VR space accessing both T-Hub and Facebook’s services, experts, mentors and ecosystem. It started receiving applications from February 23-28 and 3month accelerator programme will start in April. The opportunities will be given for startups to develop and present the concept to executives of Facebook and T-Hub and eligible startups will be qualified to the FbStart programme. A 400 People Startup ‘PurpleTalk’, a beautiful story
Satyajeet Singh tells: “We have been in the business of helping startups for the last ten years and through our various programmes like FB developer platform, FbStart we have been able to connect with a lot of innovative startups. With the current programme we want to promote startups in the space of AR/VR as we are also betting big on this space. We are accepting applications from Tuesday and will start the programme in April,” said Satyajeet Singh, head of platform partnerships, Facebook India and South Asia. Also said “The programme will provide the startups with the right support, training and mentorship and will not be looking at any funding. We are clear that we are looking at early and growth stage startups in this space and not at just idea stage startups”.
T-Hub CEO Jay Krishnan says: “The Indian AR/VR market though very nascent is expected to grow at a compounded annual growth rate of 76 per cent over the next five years. Our intent, as an ecosystem enabler is to partner with companies like Facebook to explore new frontiers that are relevant to India like healthcare, education with AR/VR and Extended Reality (XR).” said Krishnan Follow us on FB
KTR quotes: Telangana IT Minister KTR tweeted about the partnership and said, “Another prestigious partner and yet another fabulous programme launched. VR and AR is an absolute game changer in the world of multimedia and entertainment.” GrowthEnabler a report shows India has 100 AR startups, just 5% have capital investment of $1-1.5 million and 70 VR startups has raised any capital. Also the top 15 AR/VR startups have increased $3 million fund as combined in 5 years.