New Delhi, June 29 (KNN) Meta on Wednesday unveiled its new mixed reality program under which it will offer up to USD 250,000 to five start-ups in the field of extended reality technology.

This grant will help start-ups build apps and services using the company’s Presence platform.

Selected developers and start-ups under the program will receive guidance from Meta Reality Labs experts and be able to upload their products to Quest App Lab. 

A few among the five selected developers and start-ups will also get a chance to be introduced to local venture capital funds at the end of the program. 

The company’s mixed reality program aims to nurture innovation in the extended reality ecosystem of India. 

“Meta is committed to building the XR (extended reality) ecosystem in India. We believe that this fund and program will accelerate the creation and adoption of VR (virtual reality) and MR (mixed reality) experiences in the country and give Indian developers an opportunity to go global with their innovations,” Sandhya Devanathan the VP for Meta in India said.

The USD 250, 000 grant announced on Wednesday is a part of Meta’s larger scheme to fund innovation and research in the XR space.  (KNN Bureau)