diff --git a/README.md b/README.md
index b1146205..e7581e99 100644
--- a/README.md
+++ b/README.md
@@ -43,6 +43,7 @@ See the below table to find out which version of the template to use.
 
 | React Native | Template |
 | ------------ | -------- |
+| 0.69         | 6.11.\*  |
 | 0.68         | 6.10.\*  |
 | 0.67         | 6.9.\*   |
 | 0.66         | 6.8.\*   |
diff --git a/template/Gemfile b/template/Gemfile
index 2c3edcf4..5efda89f 100644
--- a/template/Gemfile
+++ b/template/Gemfile
@@ -1,6 +1,6 @@
 source 'https://rubygems.org'
 
 # You may use http://rbenv.org/ or https://rvm.io/ to install and use this version
-ruby '2.7.4'
+ruby '2.7.5'
 
 gem 'cocoapods', '~> 1.11', '>= 1.11.2'
diff --git a/template/_gitignore b/template/_gitignore
index 81570d99..344481b2 100644
--- a/template/_gitignore
+++ b/template/_gitignore
@@ -20,6 +20,7 @@ DerivedData
 *.hmap
 *.ipa
 *.xcuserstate
+ios/.xcode.env.local
 
 # Android/IntelliJ
 #
@@ -49,9 +50,10 @@ buck-out/
 # For more information about the recommended setup visit:
 # https://docs.fastlane.tools/best-practices/source-control/
 
-*/fastlane/report.xml
-*/fastlane/Preview.html
-*/fastlane/screenshots
+**/fastlane/report.xml
+**/fastlane/Preview.html
+**/fastlane/screenshots
+**/fastlane/test_output
 
 # Bundle artifact
 *.jsbundle
diff --git a/template/android/app/build.gradle b/template/android/app/build.gradle
index 9a7db522..3081a1f2 100644
--- a/template/android/app/build.gradle
+++ b/template/android/app/build.gradle
@@ -1,7 +1,6 @@
 apply plugin: "com.android.application"
 
 import com.android.build.OutputFile
-import org.apache.tools.ant.taskdefs.condition.Os
 
 /**
  * The react.gradle file registers a task for each build variant (e.g. bundleDebugJsAndAssets
@@ -152,17 +151,13 @@ android {
                         "GENERATED_SRC_DIR=$buildDir/generated/source",
                         "PROJECT_BUILD_DIR=$buildDir",
                         "REACT_ANDROID_DIR=$rootDir/../node_modules/react-native/ReactAndroid",
-                        "REACT_ANDROID_BUILD_DIR=$rootDir/../node_modules/react-native/ReactAndroid/build"
+                        "REACT_ANDROID_BUILD_DIR=$rootDir/../node_modules/react-native/ReactAndroid/build",
+                        "NODE_MODULES_DIR=$rootDir/../node_modules"
                     cFlags "-Wall", "-Werror", "-fexceptions", "-frtti", "-DWITH_INSPECTOR=1"
                     cppFlags "-std=c++17"
                     // Make sure this target name is the same you specify inside the
                     // src/main/jni/Android.mk file for the `LOCAL_MODULE` variable.
                     targets "helloworld_appmodules"
-
-                    // Fix for windows limit on number of character in file paths and in command lines
-                    if (Os.isFamily(Os.FAMILY_WINDOWS)) {
-                        arguments "NDK_APP_SHORT_COMMANDS=true"
-                    }
                 }
             }
             if (!enableSeparateBuildPerCPUArchitecture) {
@@ -282,9 +277,10 @@ dependencies {
     }
 
     if (enableHermes) {
-        def hermesPath = "../../node_modules/hermes-engine/android/";
-        debugImplementation files(hermesPath + "hermes-debug.aar")
-        releaseImplementation files(hermesPath + "hermes-release.aar")
+        //noinspection GradleDynamicVersion
+        implementation("com.facebook.react:hermes-engine:+") { // From node_modules
+            exclude group:'com.facebook.fbjni'
+        }
     } else {
         implementation jscFlavor
     }
@@ -297,7 +293,11 @@ if (isNewArchitectureEnabled()) {
     configurations.all {
         resolutionStrategy.dependencySubstitution {
             substitute(module("com.facebook.react:react-native"))
-                    .using(project(":ReactAndroid")).because("On New Architecture we're building React Native from source")
+                    .using(project(":ReactAndroid"))
+                    .because("On New Architecture we're building React Native from source")
+            substitute(module("com.facebook.react:hermes-engine"))
+                    .using(project(":ReactAndroid:hermes-engine"))
+                    .because("On New Architecture we're building Hermes from source")
         }
     }
 }
diff --git a/template/android/app/src/main/java/com/helloworld/MainActivity.java b/template/android/app/src/main/java/com/helloworld/MainActivity.java
index 24f41285..405d80a8 100644
--- a/template/android/app/src/main/java/com/helloworld/MainActivity.java
+++ b/template/android/app/src/main/java/com/helloworld/MainActivity.java
@@ -17,7 +17,8 @@ protected String getMainComponentName() {
 
   /**
    * Returns the instance of the {@link ReactActivityDelegate}. There the RootView is created and
-   * you can specify the rendered you wish to use (Fabric or the older renderer).
+   * you can specify the renderer you wish to use - the new renderer (Fabric) or the old renderer
+   * (Paper).
    */
   @Override
   protected ReactActivityDelegate createReactActivityDelegate() {
@@ -36,5 +37,12 @@ protected ReactRootView createRootView() {
       reactRootView.setIsFabric(BuildConfig.IS_NEW_ARCHITECTURE_ENABLED);
       return reactRootView;
     }
+
+    @Override
+    protected boolean isConcurrentRootEnabled() {
+      // If you opted-in for the New Architecture, we enable Concurrent Root (i.e. React 18).
+      // More on this on https://reactjs.org/blog/2022/03/29/react-v18.html
+      return BuildConfig.IS_NEW_ARCHITECTURE_ENABLED;
+    }
   }
 }
diff --git a/template/android/app/src/main/java/com/helloworld/newarchitecture/MainApplicationReactNativeHost.java b/template/android/app/src/main/java/com/helloworld/newarchitecture/MainApplicationReactNativeHost.java
index f555e364..55473c3f 100644
--- a/template/android/app/src/main/java/com/helloworld/newarchitecture/MainApplicationReactNativeHost.java
+++ b/template/android/app/src/main/java/com/helloworld/newarchitecture/MainApplicationReactNativeHost.java
@@ -16,8 +16,8 @@
 import com.facebook.react.bridge.UIManager;
 import com.facebook.react.fabric.ComponentFactory;
 import com.facebook.react.fabric.CoreComponentsRegistry;
-import com.facebook.react.fabric.EmptyReactNativeConfig;
 import com.facebook.react.fabric.FabricJSIModuleProvider;
+import com.facebook.react.fabric.ReactNativeConfig;
 import com.facebook.react.uimanager.ViewManagerRegistry;
 import com.helloworld.BuildConfig;
 import com.helloworld.newarchitecture.components.MainComponentsRegistry;
@@ -105,7 +105,7 @@ public JSIModuleProvider<UIManager> getJSIModuleProvider() {
                 return new FabricJSIModuleProvider(
                     reactApplicationContext,
                     componentFactory,
-                    new EmptyReactNativeConfig(),
+                    ReactNativeConfig.DEFAULT_CONFIG,
                     viewManagerRegistry);
               }
             });
diff --git a/template/android/app/src/main/jni/Android.mk b/template/android/app/src/main/jni/Android.mk
index 0ae63667..cda13912 100644
--- a/template/android/app/src/main/jni/Android.mk
+++ b/template/android/app/src/main/jni/Android.mk
@@ -17,7 +17,7 @@ LOCAL_SRC_FILES := $(wildcard $(LOCAL_PATH)/*.cpp)
 LOCAL_EXPORT_C_INCLUDES := $(LOCAL_PATH)
 
 # If you wish to add a custom TurboModule or Fabric component in your app you
-# will have to uncomment those lines to include the generated source 
+# will have to uncomment those lines to include the generated source
 # files from the codegen (placed in $(GENERATED_SRC_DIR)/codegen/jni)
 #
 # LOCAL_C_INCLUDES += $(GENERATED_SRC_DIR)/codegen/jni
@@ -28,8 +28,7 @@ LOCAL_EXPORT_C_INCLUDES := $(LOCAL_PATH)
 LOCAL_SHARED_LIBRARIES := \
   libfabricjni \
   libfbjni \
-  libfolly_futures \
-  libfolly_json \
+  libfolly_runtime \
   libglog \
   libjsi \
   libreact_codegen_rncore \
diff --git a/template/android/build.gradle b/template/android/build.gradle
index 5dfc68a6..c9bc539d 100644
--- a/template/android/build.gradle
+++ b/template/android/build.gradle
@@ -22,9 +22,9 @@ buildscript {
         mavenCentral()
     }
     dependencies {
-        classpath("com.android.tools.build:gradle:7.0.4")
+        classpath("com.android.tools.build:gradle:7.1.1")
         classpath("com.facebook.react:react-native-gradle-plugin")
-        classpath("de.undercouch:gradle-download-task:4.1.2")
+        classpath("de.undercouch:gradle-download-task:5.0.1")
         // NOTE: Do not place your application dependencies here; they belong
         // in the individual module build.gradle files
     }
diff --git a/template/android/settings.gradle b/template/android/settings.gradle
index 2f93b711..bd838b9c 100644
--- a/template/android/settings.gradle
+++ b/template/android/settings.gradle
@@ -6,4 +6,6 @@ includeBuild('../node_modules/react-native-gradle-plugin')
 if (settings.hasProperty("newArchEnabled") && settings.newArchEnabled == "true") {
     include(":ReactAndroid")
     project(":ReactAndroid").projectDir = file('../node_modules/react-native/ReactAndroid')
+    include(":ReactAndroid:hermes-engine")
+    project(":ReactAndroid:hermes-engine").projectDir = file('../node_modules/react-native/ReactAndroid/hermes-engine')
 }
diff --git a/template/ios/HelloWorld.xcodeproj/project.pbxproj b/template/ios/HelloWorld.xcodeproj/project.pbxproj
index 7dfdffdd..70234ff0 100644
--- a/template/ios/HelloWorld.xcodeproj/project.pbxproj
+++ b/template/ios/HelloWorld.xcodeproj/project.pbxproj
@@ -256,13 +256,15 @@
 			files = (
 			);
 			inputPaths = (
+				"$(SRCROOT)/.xcode.env.local",
+				"$(SRCROOT)/.xcode.env",
 			);
 			name = "Bundle React Native code and images";
 			outputPaths = (
 			);
 			runOnlyForDeploymentPostprocessing = 0;
 			shellPath = /bin/sh;
-			shellScript = "set -e\n\nexport NODE_BINARY=node\n../node_modules/react-native/scripts/react-native-xcode.sh\n";
+			shellScript = "set -e\n\nWITH_ENVIRONMENT=\"../node_modules/react-native/scripts/xcode/with-environment.sh\"\nREACT_NATIVE_XCODE=\"../node_modules/react-native/scripts/react-native-xcode.sh\"\n\n/bin/sh -c \"$WITH_ENVIRONMENT $REACT_NATIVE_XCODE\"\n";
 		};
 		00EEFC60759A1932668264C0 /* [CP] Embed Pods Frameworks */ = {
 			isa = PBXShellScriptBuildPhase;
@@ -436,7 +438,7 @@
 					"$(inherited)",
 				);
 				INFOPLIST_FILE = HelloWorldTests/Info.plist;
-				IPHONEOS_DEPLOYMENT_TARGET = 11.0;
+				IPHONEOS_DEPLOYMENT_TARGET = 12.4;
 				LD_RUNPATH_SEARCH_PATHS = (
 					"$(inherited)",
 					"@executable_path/Frameworks",
@@ -460,7 +462,7 @@
 				BUNDLE_LOADER = "$(TEST_HOST)";
 				COPY_PHASE_STRIP = NO;
 				INFOPLIST_FILE = HelloWorldTests/Info.plist;
-				IPHONEOS_DEPLOYMENT_TARGET = 11.0;
+				IPHONEOS_DEPLOYMENT_TARGET = 12.4;
 				LD_RUNPATH_SEARCH_PATHS = (
 					"$(inherited)",
 					"@executable_path/Frameworks",
@@ -576,7 +578,7 @@
 				GCC_WARN_UNINITIALIZED_AUTOS = YES_AGGRESSIVE;
 				GCC_WARN_UNUSED_FUNCTION = YES;
 				GCC_WARN_UNUSED_VARIABLE = YES;
-				IPHONEOS_DEPLOYMENT_TARGET = 11.0;
+				IPHONEOS_DEPLOYMENT_TARGET = 12.4;
 				LD_RUNPATH_SEARCH_PATHS = (
 					/usr/lib/swift,
 					"$(inherited)",
@@ -640,7 +642,7 @@
 				GCC_WARN_UNINITIALIZED_AUTOS = YES_AGGRESSIVE;
 				GCC_WARN_UNUSED_FUNCTION = YES;
 				GCC_WARN_UNUSED_VARIABLE = YES;
-				IPHONEOS_DEPLOYMENT_TARGET = 11.0;
+				IPHONEOS_DEPLOYMENT_TARGET = 12.4;
 				LD_RUNPATH_SEARCH_PATHS = (
 					/usr/lib/swift,
 					"$(inherited)",
diff --git a/template/ios/HelloWorld/AppDelegate.mm b/template/ios/HelloWorld/AppDelegate.mm
index cef8d202..28475b9c 100644
--- a/template/ios/HelloWorld/AppDelegate.mm
+++ b/template/ios/HelloWorld/AppDelegate.mm
@@ -16,6 +16,8 @@
 
 #import <react/config/ReactNativeConfig.h>
 
+static NSString *const kRNConcurrentRoot = @"concurrentRoot";
+
 @interface AppDelegate () <RCTCxxBridgeDelegate, RCTTurboModuleManagerDelegate> {
   RCTTurboModuleManager *_turboModuleManager;
   RCTSurfacePresenterBridgeAdapter *_bridgeAdapter;
@@ -41,7 +43,8 @@ - (BOOL)application:(UIApplication *)application didFinishLaunchingWithOptions:(
   bridge.surfacePresenter = _bridgeAdapter.surfacePresenter;
 #endif
 
-  UIView *rootView = RCTAppSetupDefaultRootView(bridge, @"HelloWorld", nil);
+  NSDictionary *initProps = [self prepareInitialProps];
+  UIView *rootView = RCTAppSetupDefaultRootView(bridge, @"HelloWorld", initProps);
 
   if (@available(iOS 13.0, *)) {
     rootView.backgroundColor = [UIColor systemBackgroundColor];
@@ -57,6 +60,28 @@ - (BOOL)application:(UIApplication *)application didFinishLaunchingWithOptions:(
   return YES;
 }
 
+/// This method controls whether the `concurrentRoot`feature of React18 is turned on or off.
+///
+/// @see: https://reactjs.org/blog/2022/03/29/react-v18.html
+/// @note: This requires to be rendering on Fabric (i.e. on the New Architecture).
+/// @return: `true` if the `concurrentRoot` feture is enabled. Otherwise, it returns `false`.
+- (BOOL)concurrentRootEnabled
+{
+  // Switch this bool to turn on and off the concurrent root
+  return true;
+}
+
+- (NSDictionary *)prepareInitialProps
+{
+  NSMutableDictionary *initProps = [NSMutableDictionary new];
+
+#ifdef RCT_NEW_ARCH_ENABLED
+  initProps[kRNConcurrentRoot] = @([self concurrentRootEnabled]);
+#endif
+
+  return initProps;
+}
+
 - (NSURL *)sourceURLForBridge:(RCTBridge *)bridge
 {
 #if DEBUG
diff --git a/template/ios/Podfile b/template/ios/Podfile
index 01506faf..06a02f93 100644
--- a/template/ios/Podfile
+++ b/template/ios/Podfile
@@ -1,7 +1,7 @@
 require_relative '../node_modules/react-native/scripts/react_native_pods'
 require_relative '../node_modules/@react-native-community/cli-platform-ios/native_modules'
 
-platform :ios, '11.0'
+platform :ios, '12.4'
 install! 'cocoapods', :deterministic_uuids => false
 
 target 'HelloWorld' do
diff --git a/template/ios/_xcode.env b/template/ios/_xcode.env
new file mode 100644
index 00000000..3d5782c7
--- /dev/null
+++ b/template/ios/_xcode.env
@@ -0,0 +1,11 @@
+# This `.xcode.env` file is versioned and is used to source the environment
+# used when running script phases inside Xcode.
+# To customize your local environment, you can create an `.xcode.env.local`
+# file that is not versioned.
+
+# NODE_BINARY variable contains the PATH to the node executable.
+#
+# Customize the NODE_BINARY variable here.
+# For example, to use nvm with brew, add the following line
+# . "$(brew --prefix nvm)/nvm.sh" --no-use
+export NODE_BINARY=$(command -v node)
diff --git a/template/package.json b/template/package.json
index 21dc8fe5..11b1dd86 100644
--- a/template/package.json
+++ b/template/package.json
@@ -10,27 +10,27 @@
     "lint": "eslint . --ext .js,.jsx,.ts,.tsx"
   },
   "dependencies": {
-    "react": "17.0.2",
-    "react-native": "0.68.2"
+    "react": "18.0.0",
+    "react-native": "0.69.0"
   },
   "devDependencies": {
     "@babel/core": "^7.12.9",
     "@babel/runtime": "^7.12.5",
     "@react-native-community/eslint-config": "^2.0.0",
     "@types/jest": "^26.0.23",
-    "@types/react-native": "^0.67.3",
-    "@types/react-test-renderer": "^17.0.1",
-    "@typescript-eslint/eslint-plugin": "^5.17.0",
-    "@typescript-eslint/parser": "^5.17.0",
+    "@types/react-native": "^0.68.0",
+    "@types/react-test-renderer": "^18.0.0",
+    "@typescript-eslint/eslint-plugin": "^5.29.0",
+    "@typescript-eslint/parser": "^5.29.0",
     "babel-jest": "^26.6.3",
     "eslint": "^7.32.0",
     "jest": "^26.6.3",
-    "metro-react-native-babel-preset": "^0.67.0",
-    "react-test-renderer": "17.0.2",
+    "metro-react-native-babel-preset": "^0.70.3",
+    "react-test-renderer": "18.0.0",
     "typescript": "^4.4.4"
   },
   "resolutions": {
-    "@types/react": "^17"
+    "@types/react": "^18"
   },
   "jest": {
     "preset": "react-native",
diff --git a/template/tsconfig.json b/template/tsconfig.json
index 80379e90..77163506 100644
--- a/template/tsconfig.json
+++ b/template/tsconfig.json
@@ -13,7 +13,7 @@
 
     /* Language and Environment */
     "target": "esnext",                                  /* Set the JavaScript language version for emitted JavaScript and include compatible library declarations. */
-    "lib": ["es2017"],                                   /* Specify a set of bundled library declaration files that describe the target runtime environment. */
+    "lib": ["es2019"],                                   /* Specify a set of bundled library declaration files that describe the target runtime environment. */
     "jsx": "react-native",                               /* Specify what JSX code is generated. */
     // "experimentalDecorators": true,                   /* Enable experimental support for TC39 stage 2 draft decorators. */
     // "emitDecoratorMetadata": true,                    /* Emit design-type metadata for decorated declarations in source files. */