Connect with us

Investment

Krafton Launches Gaming Incubator in India to Propel Local Talent and Industry Growth

Dive into Krafton’s latest endeavor as it launches the Krafton India Gaming Incubator (KIGI) to empower and support emerging talents in the Indian gaming industry.

Published

on

To actively contribute to the thriving gaming scene, in India, Krafton, the Korean gaming powerhouse behind the popular mobile game BGMI has introduced the Krafton India Gaming Incubator (KIGI). This groundbreaking initiative aims to nurture and support emerging talents within the gaming industry including startups, student teams and independent developers.

The KIGI program provides support to around six to ten early stage teams every year with durations ranging from six months to one year. Selected participants in this incubation program will not receive assistance tailored to their project requirements (ranging from $50,000 to $150,000) but also gain access to invaluable mentorship from experts in the gaming industry.

Krafton Indias primary focus is on identifying promising startups during their conceptualization phase. This aligns with the companys commitment to fostering talent and driving innovation in the gaming ecosystem. The program follows a platform approach that allows participating teams to develop games using their technologies for various platforms such as PC and consoles. This grants them flexibility and creative freedom.

It’s worth mentioning that developers or startups involved in real money gaming (RMG) or gambling content are explicitly excluded from this program. This exclusion is a response to government guidelines and state level restrictions that have impacted ventures, in India.
After completing the incubation process participants will have the chance to secure funding, from institutional investors. Krafton as a supporter of the gaming industry may also provide funding through its investments specifically aimed at the market.

Kraftons venture into gaming incubation aligns with its investments of around $50 million in the gaming sector. These investments have supported companies, including Nodwin Gaming, Loco Interactive, Nautilus Mobile (the developer behind the Real Cricket game series) Lila Games and the gaming focused VC fund Lumikai Fund. However it’s important to note that the funding for the KIGI incubator is separate from these commitments.

Advertisement

Krafton Indias strategic move comes at a time when there is growth in the gaming market. According to Niko Partners, a market intelligence firm, Indias video game revenue is projected to experience a year on year growth of 21.2% reaching an estimated $868 million by 2023. With gaming dominating this market there is also a 12.1% year on year increase, in gamers to reach 444 million gamers by 2023.

To ensure that the incubator program achieves success and makes an impact Krafton has enlisted industry experts who will serve as mentors.
Notable individuals, like Dave Curd, who serves as the director at PUBG Studios and Harns Kim, a game producer at Krafton will be. Sharing their valuable insights with the participants. The program will be conducted virtually. Will encompass seminars and community events. It aims to provide networking opportunities for individuals and teams working on their game development projects.

According to Tracxn, a startup market tracker there has been an increase of 70% in equity funding for Indian gaming startups. The funding amount has reached $647.9 million in 2022 up from $381.8 million in 2020. Despite a market slowdown in 2023 Indian gaming startups have already managed to secure a $94.3 million.

Krafton India is currently accepting applications, for its incubator program. They are welcoming aspiring gaming enthusiasts and developers to be part of this groundbreaking initiative that seeks to shape the future of the gaming industry.

image by: Freepik

Advertisement

Author

  • Gilberto Ceballos

    Gilberto is a Mexican law student at Universidad Panamericana in Mexico City, one of the top law schools in the country, with an unwavering passion for various legal subjects like international law and arbitration. He is part of the full immersion program, designed to provide students with a deep understanding of international law. This experience aims to delve into the complexities of global legal systems, international relations, and dispute resolution mechanisms. In addition to this, Gilberto participated in the youth parliament organized by the Mexican Senate, representing the voice of the Mexican youth, as well as having various international academic experiences in Canada, United Kingdom and France. He is a passionate gamer and looking forward to contribute to ELN.

Investment

Disney’s USD 1.5 Billion Gamble: Forging a New Era in Gaming with Epic Games Partnership

Explore the groundbreaking collaboration between Disney and Epic Games, as Disney invests $1.5 billion in the gaming giant.

Published

on

Disney, a known entertainment giant has made an strategic move by investing a whopping USD1.5 billion into Epic Games, a prominent player, in the gaming industry. This partnership goes beyond involvement as Disney becomes a shareholder in Epic Games the company behind the popular game Fortnite.

The collaboration between Disney and Epic Games is outlined in an announcement by The Walt Disney Company. It aims to establish an alliance that will create a new gaming and entertainment universe. The goal is to integrate Disneys collection of beloved characters and intellectual properties into Fortnite, which has gained immense popularity as a battle royale game.

The investment itself plays a role in this groundbreaking deal demonstrating Disneys confidence in Epic Games and its potential for success. However it’s important to note that regulatory approval is necessary for this aspect of the collaboration.

What makes this collaboration innovative is the way it connects the proposed “universe”, with Fortnite. Disney plans to leverage Fortnites map creation tools and world building capabilities to achieve this integration.
This strategy aligns with a growing trend, in the gaming industry, where games like Fortnite are used to create experiences to a metaverse. This reflects collaborations, like Complexity teaming up with Mastercard and Gen.G partnering with Crocs both demonstrating the potential of Fortnites ability to build worlds.

The CEO of Epic Games Tim Sweeney hinted at their shared vision mentioning that they are working on “something to build a open and interoperable ecosystem.” This mysterious statement implies an forward thinking approach to their partnership.

Advertisement

The timing of this investment is significant as it comes shortly after Epic Games experienced layoffs that particularly affected their esports properties such as Psyonixs Rocket League Championship Series (RLCS). The impact of this boost on Epic Games esports ventures is uncertain since neither Epic Games nor Disney explicitly mentioned esports as a focus in their initial statements.

Josh D’Amaro, Chairman of Disney Experiences expressed optimism, about the collaboration. He emphasized how it would allow Disney to share its collection of stories and experiences with an audience.
He mentioned that Epic Games cutting edge technology and the open nature of Fortnite offer a chance for people to connect with Disney in meaningful ways. This entails delving into the specifics of Disneys USD 1.5 billion investment, in Epic Games examining how the strategic partnership could influence gaming, entertainment and esports. Additionally it involves exploring how Disneys beloved characters can be seamlessly integrated into the Fortnite universe and understanding the implications, for the changing realm of digital experiences.

Author

  • Gilberto Ceballos

    Gilberto is a Mexican law student at Universidad Panamericana in Mexico City, one of the top law schools in the country, with an unwavering passion for various legal subjects like international law and arbitration. He is part of the full immersion program, designed to provide students with a deep understanding of international law. This experience aims to delve into the complexities of global legal systems, international relations, and dispute resolution mechanisms. In addition to this, Gilberto participated in the youth parliament organized by the Mexican Senate, representing the voice of the Mexican youth, as well as having various international academic experiences in Canada, United Kingdom and France. He is a passionate gamer and looking forward to contribute to ELN.

Continue Reading

Investment

Fosun Sports Initiates Ambitious USD 100 Million Investment Drive for Esports and Premier League Advancement

Delve into Fosun Sports’ visionary pursuit as they seek a monumental $100 million investment to fortify their presence in both esports and the Premier League.

Published

on

Fosun Sports

In an impressive move that showcases their dedication to the changing world of sports and entertainment Fosun Sports, the highly regarded branch of the international conglomerate Fosun International is making waves with reports emerging about their ambitious plan to raise an astounding USD 100 million, in funding. This significant investment drive is strategically aimed at expanding Fosun Sports esports offerings and strengthening their presence in the Premier League through investments in the Wolverhampton Wanderers, affectionately known as Wolves.

Navigating Financial Strategies
At the core of this endeavor lies Fosun Sports thoughtful consideration of financial strategies. The conglomerate is exploring avenues such as establishing partnerships attracting equity investments and other innovative financial arrangements. The funds raised are poised to play a role not in enhancing Wolves competitiveness within the Premier League but also potentially fueling the acquisition or development of groundbreaking ventures within the ever evolving and dynamic esports industry.

The Strategic Intersection
This strategic venture, into both esports and the Premier League demonstrates an understanding of the dynamics of todays sports and entertainment landscape. The decision to invest simultaneously in these two interconnected domains reflects Fosun Sports acknowledgment of esports growing global influence and the enduring popularity of Premier League football.
This convergence presents an opportunity for Fosun Sports to position itself as a frontrunner, in the expanding domains that intersect here.

A Dedication to Progress
Fosun Sports pursuit of this investment demonstrates their commitment to advancing their interests in the sports and entertainment sector. By positioning themselves at the convergence of esports and the Premier League the conglomerate aims not to achieve substantial financial gains but also to establish themselves as a key player in the industry actively shaping its future direction.

Looking Ahead
As Fosun Sports embarks on this journey industry observers are eagerly anticipating their moves. The intersection of esports and traditional sports signifies a shift in the entertainment landscape and Fosun Sports is well prepared to navigate this intersection with an emphasis on innovation and strategic growth. These unfolding developments are expected to have a lasting impact, on the sports and entertainment industry.

Advertisement

image by: rawpixel.com

Author

  • Gilberto Ceballos

    Gilberto is a Mexican law student at Universidad Panamericana in Mexico City, one of the top law schools in the country, with an unwavering passion for various legal subjects like international law and arbitration. He is part of the full immersion program, designed to provide students with a deep understanding of international law. This experience aims to delve into the complexities of global legal systems, international relations, and dispute resolution mechanisms. In addition to this, Gilberto participated in the youth parliament organized by the Mexican Senate, representing the voice of the Mexican youth, as well as having various international academic experiences in Canada, United Kingdom and France. He is a passionate gamer and looking forward to contribute to ELN.

Continue Reading

Investment

ESB and Qatar Esports Federation Launch Dota 2 League: A New Era in Esports

Explore the groundbreaking collaboration between esports production company ESB and the Qatar Esports Federation as they unveil a new Dota 2 league.

Published

on

ESB and the Qatar Esports Federation have joined forces to introduce a Dota 2 league marking a milestone, in the world of esports. This collaborative effort is set to begin in 2024. Is expected to bring about a change.

The league will consist of three events, featuring a prize pool of $2.6 million (~£2.06 million) establishing it as one of the premier esports competitions. To enhance its reach ESB and the Qatar Esports Federation have partnered with marketing agency SPORTFIVE for media rights while Quest Esports from Qatar will serve as the partner for the MENA area.

The inaugural event is scheduled to take place on April 3rd in Doha, Qatar kickstarting an exhilarating journey for esports enthusiasts worldwide. Subsequent editions are planned for July in Lima, Peru and November back in Doha ensuring that audiences, across continents will be captivated.

Furthermore this collaboration aims to promote inclusivity by creating opportunities through circuits and tournaments designed specifically for players. This initiative seeks to nurture budding talent on a scale.


The Memorandum of Understanding (MOU) highlights a shared vision, among the stakeholders outlining a path for innovation and community advancement in the realm of Dota 2 and the wider esports industry. Gonzalo Velasco, CEO of ESB emphasized the significance of this partnership by highlighting Qatars track record in hosting sports events and its well established infrastructure, which play crucial roles in establishing Doha as the global hub for this league.

Advertisement

However despite the excitement surrounding the leagues launch concerns persist within the esports community regarding the involvement of government affiliated entities. Qatars legal landscape, with its restrictions on LGBTQ+ rights, womens rights and freedom of expression reflects the dynamics shaping the world of esports.

The establishment of this Dota 2 league represents a response to Valves decision to discontinue the Dota Pro Circuit. It signifies a shift in how professional Dota 2 esportss governed and structured. ESB and Qatar Esports Federation are joining organizations like ESL FACEIT Group to lead circuits that will reshape the competitive landscape for Dota 2 enthusiasts worldwide.

As the esports industry continues to evolve this partnership, between ESB and Qatar Esports Federation serves as evidence of how collaboration can drive innovation and inclusivity within this domain.

Author

  • Gilberto Ceballos

    Gilberto is a Mexican law student at Universidad Panamericana in Mexico City, one of the top law schools in the country, with an unwavering passion for various legal subjects like international law and arbitration. He is part of the full immersion program, designed to provide students with a deep understanding of international law. This experience aims to delve into the complexities of global legal systems, international relations, and dispute resolution mechanisms. In addition to this, Gilberto participated in the youth parliament organized by the Mexican Senate, representing the voice of the Mexican youth, as well as having various international academic experiences in Canada, United Kingdom and France. He is a passionate gamer and looking forward to contribute to ELN.

Advertisement
Continue Reading

Trending