Krafton India Gaming Incubator: Rewards, Event Date, Tips And More
In a groundbreaking move to nurture and expand the Indian gaming ecosystem, Krafton India has unveiled the Krafton India Gaming Incubator (KIGI). This initiative aims to provide crucial support to budding game developers and startups looking to make their mark in the thriving gaming industry. In this article, we will delve into the details of KIGI, including the rewards it offers, event dates, and some essential tips for aspiring participants.
Krafton India Gaming Incubator: An Overview
Krafton, the company behind the popular BGMI (Battlegrounds Mobile India), has set its sights on fostering the growth of the Indian gaming industry. KIGI is designed to support and guide six to ten teams annually, offering them a unique opportunity to transform their gaming ideas into reality. The program’s duration ranges from six months to a year, during which selected participants will receive a range of benefits.
Rewards and financial support
One of the most compelling aspects of KIGI is the financial support it provides to the selected participants. The financial backing ranges from $50,000 to $150,000, depending on the specific needs of the participating teams. This support is crucial for covering development costs and allows the teams to focus on creating and refining their games.
Mentorship and guidance
Apart from financial assistance, KIGI offers invaluable mentorship and guidance from industry veterans and experts in the gaming field. Participants will have the opportunity to learn from gaming industry executives, game developers, and experts from both South Korea and India. This mentorship will play a pivotal role in helping participants shape their gaming ideas and strategies.
Access to Krafton’s Resources
Krafton India is opening its treasure trove of resources to KIGI participants. This includes access to internal data, market research, and other resources that can aid in the development and fine-tuning of their gaming products. Such access is a significant advantage for participants, as they can tap into the wealth of knowledge and information available within Krafton.
Platform-Agnostic Approach
Unlike some gaming incubation programs, KIGI adopts a platform-agnostic approach. This means that participants are not limited to a specific gaming engine or platform. They have the freedom to choose the technologies that best suit their needs and can develop games for various platforms, including PCs and consoles, in addition to mobile. This flexibility aligns with the diverse gaming landscape in India.
Exclusivity for Game Development
KIGI is focused on nurturing game development talent in India and does not consider developers or startups working on real-money gaming (RMG) or gambling content. This aligns with recent government guidelines and state-level restrictions on such ventures in India.
Event Dates and Application Process
The application process for KIGI opened on October 4, 2023. Prospective participants can submit their applications through the dedicated website provided by Krafton. The timeline for the program’s duration ranges from six months to a year, and it can be extended for exceptional cases.
Criteria for Eligibility
To be eligible for KIGI, participants must meet certain criteria:
1. Be an India-based game developer or have a legal entity in India. Student teams from India can also apply without a registered legal entity.
2. Have a game idea that demonstrates the potential for global scalability and innovation.
3. Possess the skills and enthusiasm for game development.
4. Demonstrate a well-defined concept and business goals.
Market Potential in India’s Gaming Industry
KIGI comes at a time when India’s gaming industry is experiencing exponential growth. Market intelligence firm Niko Partners predicts a 21.2% year-on-year increase in India’s video game revenue across all platforms, reaching a staggering $868 million in 2023. With around 97% of gamers in India playing on smartphones or tablets, the mobile gaming market is particularly dominant. The number of gamers in India is expected to continue rising, projected to reach 641.2 million by 2027.
Krafton’s Commitment to India
Krafton India’s commitment to nurturing the Indian gaming industry extends beyond KIGI. The company has previously invested approximately $50 million in the Indian gaming sector, with investments in companies like Nodwin Gaming, Loco Interactive, Nautilus Mobile, and more. This demonstrates Krafton’s dedication to fostering a thriving gaming ecosystem in India.
Tips for Aspiring Participants
If you’re an aspiring game developer or startup interested in KIGI, here are some essential tips to increase your chances of being selected:
1. Craft a Compelling Game Concept: Ensure your game concept is innovative, scalable, and has the potential to stand out in the market.
2. Build a Strong Team: Assemble a team with the necessary skills and expertise in game development and business.
3. Be Clear and Passionate: Clearly articulate your concept, goals, and enthusiasm for the gaming industry in your application.
4. Demonstrate viability: Show that your idea is technically feasible, financially viable, and can attract a significant player base.
5. Embrace Diversity: KIGI supports a variety of game genres, gameplay mechanics, art styles, and business models. Don’t be afraid to explore different avenues in the gaming world.
Krafton India’s launch of the Krafton India Gaming Incubator (KIGI) marks a significant milestone in the growth of the Indian gaming industry. With substantial financial support, mentorship from industry experts, access to valuable resources, and a platform-agnostic approach, KIGI provides a unique opportunity for aspiring game developers and startups to realize their gaming dreams. As the Indian gaming market continues to flourish, KIGI is poised to play a pivotal role in shaping its future. If you have a passion for game development and innovation, KIGI could be your ticket to gaming glory in India and beyond.
