What is the New Media Tech Incubator Launched by WaveX and IICT Mumbai?

Mumbai, Aug 31 (NationPress) The Ministry of Information and Broadcasting (I&B), in partnership with the Indian Institute of Creative Technologies (IICT) Mumbai, has inaugurated a cutting-edge media tech startup incubator through its WaveX accelerator platform.

This incubator is set to foster a specialized nurturing environment for startups operating in the AVGC-XR sector, which encompasses audio, visual, comics, gaming, and extended reality.

The initiative aims to propel high-potential media and entertainment enterprises forward by offering structured mentorship, advanced infrastructure, strategic guidance, and practical testing opportunities in collaboration with government media units.

According to the ministry, the incubator is designed to facilitate the scaling and commercialization of innovative ideas.

The program will unfold in two distinct phases. Initially, startups will receive comprehensive support in critical areas such as business modeling, product development, fundraising, branding, pitching, and media regulations.

Additionally, they will have the opportunity for sandbox testing across sectors like OTT, VFX, VR, gaming, animation, publishing, and post-production.

In the subsequent phase, the emphasis will shift to global showcasing via WaveX’s Waves Bazaar platform, along with lighter mentorship, investor interactions, and industry partnerships.

Startups will gain access to co-working spaces, AV/digital labs, hosting servers, high-speed internet, cloud credits from AWS and Google, and future access to India AI compute services.

Furthermore, the program will feature masterclasses conducted by global tech leaders from renowned companies such as Google, Microsoft, and Amazon, alongside bootcamps, policy clinics, and investor connect sessions.

The governance of the incubator will be managed by WaveX, with quarterly reviews supported by the Ministry of I&B.

The inaugural cohort will consist of 15 startups, which will be accommodated at IICT’s Mumbai campus, with a monthly fee of Rs 8,500 plus GST.

Applications for the first cohort are open until September 7, and interested startups can apply online at wavex.wavesbazaar.com.

Established in July by Union I&B Minister Ashwini Vaishnaw, the IICT operates as a Section 8 joint venture entity backed by the Central Government, the Maharashtra Government, and key industry bodies such as FICCI and CII.

The institute's goal is to cultivate a robust talent pool for India’s creative economy and position the nation as a global frontrunner in immersive and digital content technologies.