South Korea-based Krafton's India arm today announced the launch of KRAFTON India Gaming Incubator (KIGI) as the BGMI maker aims to bolster its presence in the country and boost India's growth in the game development sector.
What does Krafton aim to achieve with this program?
According to Krafton, the program named 'KRAFTON India Gaming Incubator' will focus on nurturing early-stage startups, including those at the conceptual or idea stage, as well as student teams and independent developers.
The program, lasting between six months to a year, will provide support to 6-10 teams annually. During this period, Krafton will mentor the teams and provide them access to the company's internal resources, such as data analytics and market research.
Students will have to opportunity for VC funding
After completing the programme, participants will have the option to either self-publish their games or seek venture capital funding from external investors and Krafton.
KIGI, led by former Gameloft and Glu Mobile executive Anuj Sahani and the South Korean gaming giant, will concentrate on ventures that are eager to scale, open to mentorship, passionate about game development, and interested in future funding opportunities.
It's worth noting that startups that are focusing on gambling and real-money gaming will not be considered for this program
Providing mentorship from renowned gaming executives
Krafton has stated it will facilitate mentorship and guidance for selected participants from renowned gaming executives, game builders, and industry experts, including Dave Curd, currently Creative Director of PUBG Studios, and former Art Director of Raven Software, and Harns Kim, currently Game Producer at KRAFTON, Inc., and former Live Service Producer of TERA at Bluehole Studios,
Additionally, it will also provide financial support ranging between $50,000 and $150,000, depending on the startup's needs.
Sean Hyunil Sohn, CEO, KRAFTON India, said “At KRAFTON, we recognize the immense potential that India holds in the global gaming landscape. KRAFTON India Gaming Incubator is a testament to our commitment to fostering creativity and innovation within the Indian gaming industry. Through the program, we hope to further develop the country’s capabilities in game development."
Krafton's commitment to the Indian gaming sector
Earlier in August 2023, Krafton said it would be investing $150 million in India over the next two to three years with the aim of fueling holistic growth of the Indian gaming and startup ecosystem.
The gaming company, which made its first investment in March 2021, invested approximately $140 million in 11 Indian startups.
Krafton, apart from developing games for PC and mobile users, invests in different sectors, including, Esports, multimedia entertainment, content creation and audio platforms. BGMI, PUBG, PUBG Mobile, NEW State, Thunder Tier One, and TERA, are some of Kratfon's portfolio games.