HCLTech joins MeitY-Meta's XR Startup Programme

HCLTech, on Thursday, announced that it has joined the XR Startup Programme, a collaboration between Meta and the Ministry of Electronics and Information Technology (MeitY) Startup Hub. The program aims to support and boost extended reality (XR) technology start-ups in India.  

As a knowledge partner in this initiative, HCLTech will play a vital role in cultivating a dynamic ecosystem for Indian start-ups, the company said. This ecosystem will foster the creation of innovative services, hardware, and software solutions, particularly in the areas of education, healthcare, and agri-tech.   

The company believes that these advancements will not only have a significant economic impact but also contribute to positive social and environmental changes.  

"We are thrilled to participate in the XR Startup Program to mentor and support startups and innovators in emerging technologies including augmented reality, virtual reality, and mixed reality. Digital engineering is of strategic focus to HCLTech and our involvement in this program reinforces our commitment to nurturing emerging technologies and innovation to drive all-around growth,” said Vijay Guntur, President, Engineering and R&D Services, HCLTech.  

The IT firm is offering one-on-one mentorship to start-ups, guiding them through thought leadership sessions and sharing valuable business and industry insights. As the program continues, start-ups can utilise HCLTech's global infrastructure, next-generation engineering technology, and innovation labs to develop, test, and validate their use cases.  

The XR Startup Program, launched in September 2022, is a joint effort between MeitY Startup Hub (MSH) and Meta. This initiative focuses on skilling and developing technological capabilities for the metaverse, with a specific emphasis on emerging technologies like Augmented Reality (AR) and Virtual Reality (VR) within the country.  

"The XR Startup Program is playing a crucial role in supporting startups to embrace extended reality technologies. We are delighted to collaborate with HCLTech for this program," said Shivnath Thukral, Director and Head Public Policy, India, Meta.  

“The next wave of innovation, transformation, and investments is in XR technologies and the metaverse and the ‘XR Accelerator’ program will ensure that Indian startups are at the forefront of developing, launching, and scaling immersive technology solutions for the global markets,” said Jeet Vijay, CEO, MeitY Startup Hub.    

During the event in Jan, Jeet Vijay also expressed the importance of emerging technologies like XR (Extended Reality) in shaping the digital landscape. He emphasized that Indian startups and innovators, particularly from non-metro areas, will have a crucial role in developing technologies like the metaverse and shaping the future of the internet.  

The XR (Extended Reality) market is growing due to technological progress and growing interest from consumers across different industries. A report by Research and Markets predicts that the XR market will continue to soar, with an estimated growth rate of 35.27%. By 2028, it is projected to reach $95 billion globally, up from $11 billion in 2021.