Correct Answer : Option (C) - Meta
MeitY Startup Hub (MSH), an initiative of the Ministry of Electronics & Information Technology (MeitY), and Meta, here 13th Sep 2022, announced the launch of an accelerator programme to support and accelerate XR technology startups across India.
This initiative, XR Startup Program focuses on skilling and building technological capabilities for the metaverse, and will help shape the ecosystem for these emerging technologies, including Augmented Reality (AR) and Virtual Reality (VR) in the country.
The Minister of State for Electronics & Information Technology, and Skill Development & Entrepreneurship, Shri Rajeev Chandrasekhar has said, “It is an important day in terms of achieving Prime Minister Shri Narendra Modi ji’s vision of making the next 10 years as India’s Techade - full of opportunities for young Indians. It is also an important milestone in area of Metaverse which is an important part of emerging future of the internet. I look forward to the collaboration with Meta and I hope it provides the necessary impetus towards fueling the growth of investments in future technologies in line with the government vision for making India a trillion-dollar economy by 2025.”
Emphasising on the potential of Indian Startups from tier 2/3 cities & how the Narendra Modi government is committed in encouraging them, the Minister further added, “Young Indian Startups, especially from tier 2/3 cities, will play a significant role in emerging tech areas like Web 3.0, blockchain, AI, Metaverse etc. and will shape the future of Technology and the internet for India and the world.
The Accelerator Program will support 40 early-stage start-ups working in XR technologies with a grant of Rs 20 lakhs each. Further, the Grand Challenge will encourage early-stage innovators in sectors like Education, Learning and Skills, Healthcare, Gaming and Entertainment, Agritech & Climate Action and Tourism & Sustainability.
The innovators will be provided support to upscale from the R&D phase
to developing workable products and services. At first 80 innovators
will be shortlisted to attend a bootcamp, out of which, a total of 16 innovators
will be provided grants of Rs 20 lakhs
each and further support to help them develop Minimum Viable Product (MVP)/ prototypes
..Source : PIB