SUMMARY
Until now, Krafton India has selected two startups for the cohort, ReDimension Games, and Shura Games
Krafton is open to all kinds of games for the incubation programme. However, it won’t consider real money gaming or any games associated with betting or gambling
Meanwhile, Krafton will provide funding of $150K for the complete incubation period
South Korean game developer KRAFTON’s India arm has selected the first cohort for its recently launched KRAFTON India Gaming Incubator (KIGI).
The objective of the incubation programme, launched last year, is to uplift the gaming ecosystem in India.
“As we are all aware, the gaming industry in India boasts a large user base and numerous downloads, yet the quality of games emerging from the country remains subpar. This program aims to enhance the overall gaming ecosystem by providing incubated teams with financial support, mentorship, access to tools, and guidance,” Anuj Sahani, head of Krafton Incubator Program, told Inc42.
He added that the programme was launched with a vision to ensure that new gaming startups can achieve some level of success and produce higher-quality products that can compete on a global scale.
Krafton is open to all kinds of games for the incubation programme. However, it won’t consider real money gaming or any games associated with betting or gambling.
Regarding the selection process, Krafton is upholding a comprehensive procedure to choose the teams. Initially, teams apply through its online portal on the website, where they must complete a detailed form with multiple particulars. Subsequently, these applications undergo review by its internal key team, consisting of individuals proficient in Krafton game incubation.
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.
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.
Last year, KRAFTON committed to investing $150 Mn (over the next two to three years) in India towards Indian gaming and entertainment startups. The BGMI maker has been making investments in India since March 2021.
KRAFTON has invested $140 Mn in 11 Indian startups to date. Some of KRAFTON’s notable investments include One Impression, which secured $10 Mn this March; Kuku FM, in which KRAFTON participated in the Series B round; Nautilus, which received $5.4 Mn from KRAFTON in February 2022; and FRND, which received $6.5 Mn from the gaming giant.
KRAFTON also relaunched “BGMI” in India last year. After PUBG Mobile got banned in India in 2020, KRAFTON cut ties with Tencent to relaunch the game as “BGMI (BattleGrounds Mobile India)”. However, the Indian government banned the game again in July 2022, citing issues with Indian users’ data before it made a comeback last year.
