T-Hub and Facebook have concluded the India Innovation Hub Accelerator Program with nine shortlisted augmented reality (AR) and virtual reality (VR) startups showcasing their technologies on the Demo Day at T-Hub in Hyderabad on Wednesday.
T-Hub and Facebook selected a cohort of nine start-ups from 20 shortlisted applications for the three-month programme, after a rigorous evaluation process. These start-ups offered solutions with the potential to solve real-world problems in industries such as health tech, industrial manufacturing, human resources, education and corporate learning, among others.
The three-month accelerator program gave nine selected startups, an opportunity to work and scale up under the aegis of Facebook, with direct access to FbStart, a global program from Facebook for Startups.
These start-ups received hands on training, mentoring sessions and practical lessons on product, technology and strategy from Facebook experts, skilled in the field of AR/VR.
â€śAt Facebook, we are committed to working with start-ups and partners across the industry to boost Indiaâ€™s technology to 'build for tomorrow'. Today, technology has the potential to unlock newer opportunities, empowering people and businesses to dream big and build products to empower their communities. The success of our accelerator program reinforces our focus to enable the next generation of start-up success in India,â€ť Satyajeet Singh, Head of Platform Partnerships, Facebook India and South Asia said in a statement.
Each start-up will become a part of an alumni network of graduates from programs across the globe, enabling them to learn, collaborate and build together. The program also provided them with access to T-Hubâ€™s network of mentors, industry experts, investors, service providers and the community.
â€śOur commitment to supercharge innovation has achieved another milestone with the successful completion of our latest accelerator program, this time in collaboration with Facebook. For this program T-Hub specifically focused on AR, VR and MR, but in general startups offer a tremendous value proposition for corporate giants with solutions based on many emerging technologies like AI, IoT, Blockchain, etc. T-Hub is elated to continue being one of the best scaling catalysts in India for both corporates and startups,â€ť Srinivas Kollipara, COO & interim CEO, T-Hub, said.
Meet the startups that were a part of the accelerator program
Through the program, the startup claims to have gotten a better understanding of design thinking for crafting its product and ideated to develop smarter new products. The advancement resulted in acquiring clients such as the Indian Army, DRDO, and PMExperts - one of the largest training companies in Gujarat.
The accelerator helped it rapidly grow from the development stage to get its product offering attested clinically and validated by over 160 doctors across seven different countries. As a result, it is now prepared to manufacture the product from December 2018 and hit the market starting January 2019.
This VR startup was able to successfully launch its Big Basket Virtual Store with the support of mentors, who helped correctly demonstrate the use of its technology. The subject matter experts from Facebook and T-Hub helped it build a Virtual and Augmented Reality platform.
With the help of mentors, this Bengaluru-based startup switched its product from a deep-tech enabled engine to a customer-centric product that now solves real problems. As a result, it acquired new clients and attracted interest from other high-potential prospects. In three months, based on the product roadmap, the start-up built a stronger team.
Through the course of the accelerator program, Merxius scaled up its business by receiving investment from Boeing and acquiring its first foreign customers.
This startup was able to iterate its product twice with several additional features, developing a stronger product portfolio. It was possible after working with Facebook's React 360 framework, Newsfeed, and Oculus teams.
It completed onboarding of its first client and scaled up rapidly as a result of the acceleration programme. It also offered them a way to get into advanced integration stages with many other enterprise clients.
This Hyderabad-based VR startup fine-tuned its product, PerspectAI, with support from the mentors. The product was launched at NASSCOM HR Summit and HYSEA Summit on 27 July 2018, generating leads for pilot projects at over 30 organisations.
The program helped it create a smarter VR experience with the mentors providing the right direction for the development of its products and solutions. As a result, it could distribute its content on an application known as INVR (India in VR), which resulted in increasing the business with newer partners.
Additionally, GMETRI, Innov4Sight, and Scapic will receive further support from T-Hub for a month emphasizing on Go-to-Market strategies that help increasing funnel conversion rates, picking up the sales model, taking product to entire market, and building company.
The jury selected these 3 startups based on not only they are having a compelling product, but also the fact that they stood out to benefit the most from a further collaboration with Facebook and T-Hub in the immediate term. The jury also considered the selected startups best align with either Facebook products or Facebook mission of bringing good to the world.