Alibaba’s UCWeb Pools $20 Mn Fund For Indian Gaming Startups

Alibaba’s UCWeb Pools $20 Mn Fund For Indian Gaming Startups

Alibaba backed UCWeb, under its accelerator ‘’9 Apps Dev’, has launched a $20 Mn fund for Indian gaming startups. The announcement was made at the PocketGamer Connects conference in Bangalore.

The plan is to invest into 100 startups with each receiving an amount of $500K. Also, the team would mentor these startups to monetise and popularise their product, without having any share in their in their revenue.

As per reports, the Indian gaming industry currently has 250 game developers and the gaming market is expected to grow to $571.6 Mn at 134.5 per cent compounded annual growth rate (CAGR) this year. 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.

With an increase in use of smartphones, game developers have an open platform to show their creativity. However, they often lack on monetisation front as in-app purchases are usually ignored by the users. The investors are already having a close watch on the space and there are some who have already caught their eyes such as Moonfrog Labs, Octro Inc, etc.

Also, there are issues related to cheap and low quality handsets which does not support gaming environment. “Smart developers will not only develop low-end games suited for the market as it is currently but also plan ahead for a better gaming environment in two to three years’ time,” said Robert.


Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.


Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Alibaba’s UCWeb Pools $20 Mn Fund For Indian Gaming Startups-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Alibaba’s UCWeb Pools $20 Mn Fund For Indian Gaming Startups-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Alibaba’s UCWeb Pools $20 Mn Fund For Indian Gaming Startups-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Alibaba’s UCWeb Pools $20 Mn Fund For Indian Gaming Startups-Inc42 Media
Alibaba’s UCWeb Pools $20 Mn Fund For Indian Gaming Startups-Inc42 Media
You’re in Good company