Krafton India, the gaming giant behind popular titles such as BGMI, has announced the launch of its gaming incubator program in a bid to support and expand the local gaming ecosystem. The program, known as Krafton India Gaming Incubator (KIGI), aims to provide guidance, mentorship, access to resources, and financial support to six to ten teams annually. With a duration ranging from six months to a year, the selected participants will receive financial support ranging from $50,000 to $150,000, depending on their specific needs.
Key Takeaway
Krafton India has launched its gaming incubator program, KIGI, to support and nurture local gaming talent. The program aims to provide financial support, mentorship, and resources to selected participants, with a focus on promoting diversity and innovation in the Indian gaming ecosystem.
Promoting Diversity in the Indian Gaming Ecosystem
Krafton India’s CEO, Sean Hyunil Sohn, expressed the need for diversity in the gaming ecosystem, stating that while there are numerous gaming startups and developers in India, there is still room for growth and innovation. The KIGI program aims to address this gap by providing opportunities for early-stage startups, student teams, and independent developers to showcase their talent and build products tailored for the Indian markets. Participants will receive mentorship from gaming industry executives and experts from both South Korea and India, as well as access to Krafton’s internal resources, including data and market research.
Agnostic Approach to Technology and Platforms
What sets Krafton India’s gaming incubator apart is its agnostic approach to technology and platforms. Unlike other incubation programs, KIGI allows participants to develop games using technologies of their choice and for platforms beyond just mobile. This aligns with India’s gaming market, which is predominantly mobile-focused but is also witnessing growth in PC and console gaming. However, the program does not consider developers or startups focusing on real-money gaming or gambling content, as recent government guidelines have restricted these sectors in India.
Opportunities for Funding and Acquisition
Upon graduating from the incubator, participants will have opportunities to raise capital from institutional investors. Krafton also expressed the possibility of acquiring potential startups and teams that demonstrate exceptional talent, enabling the company to further expand its presence in India. The incubator program aims to serve as a beacon for identifying game development teams in India, offering a broader spectrum of opportunities beyond traditional investment models.
Promoting Innovation and Growth in India’s Gaming Market
The launch of KIGI comes at a strategic time for Krafton India as it expands its portfolio of mobile titles in the country. With India expected to experience significant growth in its gaming industry, the incubator program provides an avenue for developers and startups to experiment with different genres and create diverse games. Market intelligence firm Niko Partners predicts that India’s video game revenue will see a 21.2% year-on-year growth to reach $868 million by 2023.
The gaming industry in India is undoubtedly a booming sector, with equity funding in Indian gaming startups increasing nearly 70% to $647.9 million in 2022. The launch of Krafton’s gaming incubator program demonstrates the company’s commitment to fostering local talent, promoting diversity, and driving innovation in India’s gaming ecosystem.
