$10 million in deals likely at gaming event in Hyderabad

87

Hyderabad, Oct 29 (IANS) Deals worth over $10 million are expected to be signed during India Game Developer Conference (IGDC) to be held here next month.
The global Investor-Publisher Connect, to be held on November 22-23 at the Hyderabad International Convention Centre (HICC) here has attracted 50 active investors and 60 gaming start-ups to tap potential investment and publishing opportunities.
IGDC has emerged as the most productive platform for investors, publishers and gaming companies to engage with each other. IGDC 2019 has seen 100 per cent increase in the number of global and local investors and start-ups and the organizers expect investor-publisher investment opportunities worth more than $10 million in this year’s edition.
The two-day event will be held in two formats — speed dating roster where early-stage gaming companies get a chance to meet investors, and game publishers and exclusive one-on-one meetings where traction stage and accelerated companies get detailed face time with investors, publishers and strategic international partners.
Selected gaming start-ups will have an opportunity to have unique speed dating running for 15 minutes, with top-notch investors on both days.
“There has been an unprecedented innovation in the Indian gaming landscape in the last 18 months, especially as smartphones have become more accessible to Indian digital consumers. India’s online gaming industry is poised to grow at 20-25 per cent CAGR to a billion-dollar market over the next two years,” said Manish Agarwal, CEO of Nazara Technologies Ltd.
There were 35 investors and publishers and over 200 meetings between studios, investors and publishers during IGDC 2018.
“The Investor-Publisher connect at IGDC is a great platform for Indian gaming companies to raise capital to really help them accelerate, as well as drive strategic partnerships with indigenous and international industry leaders,” said Ajish G. Habib, MD, and CEO of TuttiFrutti Interactive.
India is one of the top five markets for mobile gaming, owing to increasing smartphone affordability and decreasing data prices.
According to trade analysts, the online gaming industry in India is estimated to reach revenues of Rs 12,000 crore by 2023, growing at 22 per cent annually. The number of mobile phone gamers in the country will be around 628 million by 2020.

- Advertisement -