Hyderabad startups bet big on metaverse

HYDERABAD: With the metaverse exploding with opportunities, it is not just large corporates that are trying to cash in with tech ideas, even budding city-based entrepreneurs are betting big on this space.

T-Hub CEO

Mahankali Srinivas Rao

pointed out that there are around 10

startups

in the metaverse space in Telangana and four of them are actively engaged with T-Hub.

“T-Hub is ensuring that the number of startups in the metaverse accelerates five times in the next two years. We also aspire to support metaverse startups through T-Fund and

Startup India Seed Fund Scheme

(SISFS). The mentoring ecosystem for sta-rtups will help entrepreneurs acquire relevant knowledge and skills,” Rao said.

He pointed out that T-Hub is engaging with corporates to explore how to leverage technology for opportunities.

On the opportunity provided by the metaverse space,

Pushpak Kypuram

, founder & director of a city-based metaverse startup, NextMeet, said the metaverse offers a massive opportunity for all enterprises to re-invent all digital interactions for consumers and employees whereas for individuals, it offers a new experience of ‘near-life interactions’. NextMeet enables real-time virtual conferencing and networking in an avatar-based 3D environment.

Hemanth

Kumar Satyanarayana

, founder & CEO, Imaginate, said every enterprise will find a need to create a digital twin of its facilities for enabling hybrid workplaces in the future workplace setting. “This is a large opportunity for several companies to make use of and help these enterprises move faster to enterprise metaverses. The cost is the current challenge,” he said. His startup, Imaginate, enables enterprises to create digital replicas of their real worlds allowing their employees to have immersive collaboration in replica worlds.

Similarly,

Shorupan P

, Founder and CEO of INR Group, intends to reach out to small and medium businesses to help them take advantage of ‘Metaversifying’ their businesses.“We are catering to 10 SMBs and are eyeing 500 by the end of this year. We will be looking at businesses that have a good frequency of recurring customers such as coffee shops and car wash service providers,” he said. It will help companies to tokenize their equity and turn them into intradable ‘ShareTokens’, creating NFTs as well as generating awareness on Blockchain and cryptocurrencies. They would also offer services offering cryptocurrency investors and accountants.


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