Reliance Entertainment has announced its plans to invest in over 20 Indian gaming startups this year. The corpus of the investment fund remains undisclosed for now.
Also, a part of Reliance Entertainment has announced investments worth over $50K in marketing and technology to support some Indian startups as part of its ‘PG Connects’ event.
The gaming startups will be getting support to take their game to the next level for a launch including significant dollar investments in technology, marketing, analytics, and people resources from Reliance Games.
As said by Reliance Entertainment Digital CEO Amit Khanduja, the market is at an inflection point and it is a green-field opportunity for game developers as domestic mobile game market grows significantly in next 18 to 24 months. “Currently, indie-developers need significant hand holding in design, monetisation, marketing and technology, we see strategic tie ups as the road to success than pure-play fund investments,” he added.
A FICCI-KPMG report projected this segment to grow to $763 Mn (INR 5,070 Cr.) by the end of December 2020 from $399 Mn (INR 2,650 Cr.) in 2015. The number of gaming startups today has reached from 40, a few years back, to 250. As per Robert Bu, general manager for UCWeb India, the Indian gaming market is forecasted to grow nearly five-fold in three years – from $416 Mn in 2015 to $2 Bn in 2018.
The development was first reported by ET.
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