The government on Tuesday announced to help build a robust ecosystem of over 2,000 interactive entertainment startups, as India’s interactive entertainment sector is projected to grow to $60 billion by 2034, creating over 20 lakh jobs.
Towards this goal, the Department for Promotion of Industry and Internal Trade (DPIIT) collaborated with social gaming and interactive entertainment platform WinZO which would focus on building an ecosystem of over 2,000 startups, innovators, and students, providing them with mentorship, industry insights, and access to global opportunities.
The initiative will go a long way to establish the country as a global leader in interactive entertainment, capturing a significant share of the $300 billion global gaming market.
“The MoU focuses on bridging the talent gap in the sector by equipping professionals with cutting-edge skills in coding, animation, game design, and development,” said Sanjiv Singh, Joint Secretary, DPIIT.
The DPIIT-WinZO partnership is designed to harness this potential by nurturing startups through hackathons, workshops, accelerator programs, and curated pitch events.
The MoU, spanning over two years, also aims to accelerate the growth of the domestic interactive entertainment sector by fostering innovation, creating skilled talent, and scaling startups to compete on a global stage.
They would also establish a Center of Excellence (CoE) that would serve as a launchpad for startups and entrepreneurs, focusing on critical aspects such as building a skilled, industry-ready workforce.
Saumya Singh Rathore, Co-founder of WinZO, said by fueling foreign direct investment, nurturing world-class talent, and driving the creation of future-ready IP, “we are building the foundation for a new era of interactive entertainment”.
According to Dr. Sumeet Kumar Jarangal, Director (Startup India), DPIIT, the initiative is a testament to “our commitment to building a thriving ecosystem for entrepreneurs by collaborating with the industry partners”.