The first cohort of the newly established KRAFTON India Gaming Incubator (KIGI) has been chosen by the South Korean game developer KRAFTON’s India division.
The incubator program was started last year with the goal of improving India’s gaming industry.
Through the provision of financial support, mentorship, tools, and direction to incubated businesses, this program seeks to improve the gaming ecosystem as a whole.
He continued by saying that the program’s goal was to guarantee that up-and-coming gaming firms could succeed to some extent and create better goods that could compete on a worldwide basis. Head of the Krafton Incubator Program, Anuj Sahani.
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For the incubation program, Krafton is open to receiving any form of game. But it won’t take into account games that require real money or any other type of betting or gambling.
In terms of the selection process, Krafton is maintaining a thorough method to select the teams. Teams first apply online using the website’s portal, where they are required to fill out a comprehensive form with several details. These applications are then reviewed by its internal key team, which is composed of people who are knowledgeable about the incubation of Krafton games.
Following this initial review, a selection committee is formed. This panel comprises members from various Krafton rooms, studios, and regions, including Korea, the US, India, and Europe. This committee evaluates the projects and the teams behind them.
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Until now, Krafton India has selected two startups for the cohort: ReDimension Games and Shura Games. ReDimension Games is developing an action-adventure game, “Sojourn Past,” which is set for a 2024 release. Shura Games has introduced “Spice Secrets,” a mobile game combining culinary adventures with puzzle challenges, targeting a wide audience.
“We are still evaluating multiple applications and going through the process. However, to avoid further delays and to commence with our first cohort promptly, we have selected two startups for the first cohort. Moving forward, we plan to add many more,” Sahani said.
Meanwhile, Krafton will provide maximum funding of $150K for the complete incubation period.
“We may extend this for some teams based on their requirements. The duration of the incubation period ranges from 6 to 12 months. The disbursal of funds will be based on milestones. For instance, if a team is committed for one year, the funding will be divided into three to four milestones, with payments disbursed accordingly. We aim to ensure that teams are making progress and fulfilling their commitments,” Sahani said.
The previous year, Krafton made a commitment to invest $150 million in Indian gaming and entertainment firms over the course of the next two to three years.
Since March 2021, the BGMI manufacturer has made investments in India.To date, KRAFTON has put $140 million into 11 Indian businesses.
About KRAFTON
KRAFTON is a collection of studios, each with a unique personality in the arts. Our group’s constant goal is to develop, innovate, and produce fresh entertainment and technological experiences that will allow fans to participate and interact for years to come.
