Krafton India launches gaming incubator to expand local ecosystem
04.10.2023 - 01:27
/ techcrunch.com
Krafton India has launched a gaming incubator in the South Asian nation as it seeks to expand the local ecosystem and support the domestic talent looking to enter the fast-growing gaming market.
Called Krafton India Gaming Incubator (KIGI), the program aims to support six to 10 teams annually, with the total duration ranging from six months to a year. Selected participants will get guidance, mentorship, access to Krafton’s resources and financial support, typically between $50,000 – $150,000 depending on their needs, the company said on Wednesday.
Krafton India, which recently relaunched the popular mobile title BGMI, said it would look for early-stage Indian startups and those at the conception stage, as well as student teams and independent developers for the KIGI program. The selected participants will be mentored by various gaming industry executives, game developers and industry experts from South Korea and India. Krafton will also offer the participants access to its internal resources, including data and market research, to help them build their respective products for the Indian markets worldwide.
“Given the huge demand for gaming content [in India], the supply side has yet to mature. There are many great startups and small- to medium-sized and large-size game developers, but I think in the ecosystem, there is a lack of diversity,” said Sean Hyunil Sohn, CEO of Krafton India, in an interview.
The South Korean company has appointed former Gameloft and Electronic Arts producer Anuj Sahani as the head of its incubator program. Sahani told TechCrunch that he, along with other executives at Krafton, will look for relevant participants by going through their applications and will pick the ones that fit the company’s global standards.
To be sure, Sony and Epic Games also have incubation programs in various markets to support indie developers and early-stage startups. But those are limited to a specific gaming engine or platform, Sohn said, adding that Krafton’s program is game engine and platform agnostic, meaning the incubating teams can develop games using technologies based on their requirements and for platforms — not restricted to mobile that is dominating the gaming market in India — including PC and consoles.
However, it will not consider developers or startups building real money gaming (RMG) or gambling content. India used to attract decent investments in RMG, but recent government guidelines have changed the landscape. Similarly, many Indian states have restricted online gambling altogether.
After graduating from the incubator, the participants can raise capital from institutional investors. Krafton can also fund them through its committed allocation of investments for the Indian market, which