Krafton India, the renowned publisher behind the popular mobile title BGMI, has embarked on a mission to bolster the local gaming ecosystem with the launch of the Krafton India Gaming Incubator (KIGI). This innovative program seeks to empower and support emerging talents in the ever-expanding gaming industry, offering mentorship, resources, and financial backing to promising teams. With the potential to provide up to Rs 1.24 crore in funding, KIGI is set to become a game-changer for Indian gaming startups.
Fostering Gaming Innovation in India
Krafton India’s KIGI program is designed to nurture and elevate gaming startups at various stages of development, from early-stage ventures to student teams and independent developers. The initiative aims to assist six to ten teams annually, providing invaluable mentorship from gaming industry experts hailing from both South Korea and India.
Access to Expertise and Resources
Participants in KIGI will gain access to Krafton’s extensive internal resources, including market research and data, which can significantly enhance the development of their gaming products. Moreover, the program is unique in that it is platform-agnostic, enabling incubated teams to choose their preferred technologies and platforms, including PC and consoles, rather than being restricted to mobile platforms like many other gaming incubators.
Excluding Real-Money Gaming
Notably, KIGI will not consider developers or startups engaged in real-money gaming (RMG) or gambling content due to recent government guidelines and state-level restrictions affecting such ventures in India. Krafton’s commitment to responsible gaming is evident in this exclusion.
Investing in India’s Gaming Ecosystem
Krafton has previously invested approximately $50 million in the Indian gaming sector, supporting companies like Nodwin Gaming, Loco Interactive, Nautilus Mobile (developer of the Real Cricket game franchise), Lila Games, and the gaming-focused VC fund Lumikai Fund. The funding allocated for KIGI, however, will be separate from these previous commitments.
Promising Growth Prospects for Indian Gaming
Market intelligence firm Niko Partners predicts a robust 21.2% year-on-year growth in India’s video game revenue across all platforms, reaching an estimated $868 million in 2023. India’s gaming landscape is predominantly mobile-centric, with around 97% of gamers favoring smartphones and tablets. Furthermore, the country is witnessing a remarkable surge in the number of gamers, projected to expand from 444 million in 2023 to a staggering 641.2 million by 2027.
Expert Guidance and Virtual Collaboration
Key experts from Krafton, including Dave Curd, creative director of PUBG Studios, and Harns Kim, game producer at Krafton, will offer mentorship and guidance to KIGI participants. The program, conducted virtually, will include seminars and community events, fostering networking opportunities for participants to build meaningful connections within the gaming industry.
Surge in Gaming Startup Funding
Notably, equity funding in Indian gaming startups witnessed a substantial 70% surge, reaching $647.9 million in 2022, up from $381.8 million in 2020, according to startup market tracker Tracxn. In 2023, despite a broader market slowdown, Indian gaming startups have already secured $94.3 million in funding.
Krafton is currently accepting applications for the KIGI program through its website, offering a promising gateway for aspiring gaming entrepreneurs to bring their creative visions to life.
