Krafton India Launches Gaming Incubator to Expand Local Ecosystem

Krafton India

Krafton India, the company behind popular titles like BGMI, has unveiled its ambitious initiative to foster the Indian gaming ecosystem. The newly launched Krafton India Gaming Incubator (KIGI) seeks to support local talent and facilitate their entry into the rapidly growing gaming market.  KIGI aims to empower six to ten gaming teams annually, offering them a comprehensive support system. The program’s duration ranges from six months to a year, during which selected participants will receive invaluable guidance, mentorship, access to Krafton’s vast resources, and financial support ranging from $50,000 to $150,000, tailored to their specific needs.

Inclusivity in Selection Criteria

Krafton India is casting a wide net for potential candidates, including early-stage Indian startups, those in the conception phase, student teams, and independent developers. This inclusive approach reflects the company’s commitment to nurturing diverse talent. Selected participants will benefit from mentorship by esteemed gaming industry executives, game developers, and industry experts from both South Korea and India. Krafton will also open the doors to its internal resources, providing access to valuable data and market research.

A Solution for the Supply-Demand Gap

CEO of Krafton India, Sean Hyunil Sohn, emphasized the need for diversity in the Indian gaming ecosystem. He noted, “Given the huge demand for gaming content [in India], the supply side has yet to mature.” KIGI is positioned to address this gap and contribute to the industry’s growth. Krafton’s incubation program stands out for being a game engine and platform agnostic. This means participating teams can develop games using various technologies and for multiple platforms, not limited to mobile, thereby expanding the horizons for creativity. Krafton India will not consider developers or startups creating real-money gaming (RMG) or gambling content due to recent government guidelines and restrictions in various Indian states.

Post-Incubator Opportunities

Upon graduating from the incubator, participants will have the opportunity to raise capital from institutional investors. Krafton’s committed allocation of investments for the Indian market, including a recent commitment of $150 million, will also be available to support promising projects. The incubation program aligns with Krafton India’s ongoing expansion in the Indian gaming landscape. While BGMI remains a flagship title, the incubator will encourage developers to explore various genres and create diverse gaming experiences.

India’s Booming Gaming Market

Market intelligence firm Niko Partners predicts significant growth in India’s gaming revenue, estimating a 21.2% year-on-year increase to $868 million in 2023. With 97% of gamers in India playing on smartphones or tablets, the market is poised for further expansion, with projected gamer numbers reaching 641.2 million by 2027.

Expert Mentorship and Virtual Program

Key experts in the industry, such as Dave Curd and Harns Kim, will mentor and guide participants in the virtual program, which includes seminars and community events to facilitate networking and game development. In recent years, funding for Indian gaming startups has been on the rise, with equity funding growing by nearly 70% in 2022, reaching $647.9 million. Despite the market slowdown in 2023, Indian gaming startups have secured $94.3 million in funding. Krafton is now accepting entries for the incubator through its dedicated website, providing a promising opportunity for aspiring Indian game developers to make their mark in the industry.

Leave a Reply