Hyderabad-based startup incubator, T-Hub has entered a partnership with Facebook to launch India Innovation Hub Accelerator Programme. The idea is to nurture innovation and catayse developments in the Augmented Reality/Virtual Reality (AR/VR) space in India.
Startups working on AR/VR applications in 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, could partake in the programme.
Once selected, the startups get the opportunity to work and scale with the help of social media giant – Facebook.
A ‘demo-day’ will be held at T-Hub in Hyderabad, wherein startups will be given the opportunity to showcase their Proof of Concept (PoC) on the prioritized solutions to Facebook and T-hub executives.
Those that qualify will be directly accepted to the FB Start programme and will get access to the network of mentors, industry experts, investors, service providers and the overall T-Hub ecosystem.
While pointing out that the Indian AR/VR market is still its nascent stage, Jay Krishnan, CEO, T-Hub added, “It 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.”
Satyajeet Singh, Head of Platform Partnerships, Facebook India and South Asia added, “Through our Accelerator Programme with T-Hub, we want to provide the right support, training and mentorship to the start-ups.”