Facebook launches India Innovation Hub Accelerator Program with T-Hub
Facebook has partnered up with local Indian organisation T-Hub to launch its new India Innovation Hub Accelerator Program.
T-Hub is an organisation built from a partnership between the government of Telangana, three key Indian academic institutes, and a number of private sector leaders.
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The partnership between T-Hub and Facebook will look to collaborate in the development and innovation of Augmented and Virtual Reality (AR/ VR) technologies.
“AR/VR today has started to gain traction in industries ranging from - entertainment, gaming, communication and industry,” said Jay Krishnan, CEO, T-Hub. “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.”
The programme will look to discover high-potential startups and use cutting edge technologies, combined with the significant experience of both firms, to raise the platform of Indian innovation.
By providing the right guidance to these startups, Facebook and T-Hub hope to unlock the potential of both AR and VR, with both technologies being in the relatively early stages of their development.
“We understand the challenges start-ups face to get their ideas off the ground and we are committed to paving the way for the next generation of startup success in the country,” said Satyajeet Singh, Head of Platform Partnerships, Facebook India and South Asia.
“Through our Accelerator Program with T-Hub, we want to provide the right support, training and mentorship they need to explore the potential of emerging technologies.”