1st Call for Proposals for Start-ups to facilitate the development of Augmented and Virtual reality based solutions.Last Date of Submission: 26th January 2022
Virtual and Augmented Reality Centre of Excellence (VARCoE), IIT Bhubaneswar invites applications for start-up on boarding. This 1st Open Call will support 20 best submissions led and executed by start-ups, actively involved in research, development, and application activities related to ARVR. The problem statement for the same is listed below. The selected projects should have potential to entail a substantial advance in the state of the art, delivering new services with potential to improve the solutions based on ARVR and ability to reach the market in the short run. The open call is divided into four participation tracks. Applicants must apply for one of them.
Selection of Start-Up Proposal shall be a 4-Stage Process:
On boarding of start-ups in the VARCoE premises of IIT Bhubaneswar campus (In campus mode and virtual mode)
Seed grant support up to 10 Lakhs as well as Infrastructure, library and laboratory accesses provisioning for 10 best proposals as well as provisioning for In campus mode on boarding.
Infrastructure, library and laboratory accesses provisioning for 11th -20th best Proposals as well as provisioning for virtual mode on boarding.
Access to other funding/Investment from Govt organisations up to the tune of 25 Lakhs. This will be based on periodic review after six months of incorporation of start-up under VARCoE.
Access to private investment: A network of corporate and private investors engaged to select and invest in promising companies with great go- to-market and growth potential.
Visibility: VARCoE will offer ecosystem and organizational visibility towards new partnerships and business opportunities.