Hyderabad-based startup incubator, T-Hub in collaboration with Facebook, announced the launch of the India Innovation Hub Accelerator Program which aims to mentor startups in the virtual reality (VR)/artificial intelligence (AR) space. The two organisations plan to enable these startups to scale up their businesses by employing innovation programmes, global outreach and technology depth.

The accelerator program will be accepting applications till February end and the program will commence in April. The will identify 8-10 startups which it will take under its wings and mentor. The qualified startups will also directly be accepted into Facebook’s Start Program and will be able to tap into T-Hub’s vast network of mentors, industry experts, investors, service providers and community. Prior to launching the program, the social media giant had rented space at T-Hub in order to provide technology solutions to the incoming startups.

“We will mentor the startups over a period of time. From Facebook, we’ll bring our expertise in technology and try to get the right mentors from industry as well who could help them in the kind of problems they are looking to solve,” said Satyajeet Singh , Head of Platform Partnership at Facebook India and South Asia. He was in Hyderabad to announce the launch of the program.

The program has duration of 6 months and will consist of a three-month accelerator program. The selected startups will be further mentored once they graduate from the accelerator program. Startups which are involved in the application of AR/VR to health-tech, industrial manufacturing, education, corporate learning and development, hardware and accessories etc can participate in the program. The startups will also have the opportunity to develop Proof of Concept (PoC) on the prioritised solution and showcase their PoC solutions to key executives of Facebook and T-hub during “Demo Day” at T-Hub, Hyderabad.

“AR/VR today has started to gain traction in industries ranging from entertainment, gaming, communication and industry. The Indian AR/VR market yet nascent is expected to grow at a compound annual growth rate (CAGR) of 76% 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,” said Jay Krishnan, CEO of T-Hub, in a statement.

(Picture courtesy: t-hub.co)