Reliance Entertainment Plans to Invest in 20 Indian Gaming Startups This Year
Reliance Entertainment, a wholly-owned subsidiary of Reliance Anil Dhirubhai Ambani Group, has announced its plans to invest in 20 Indian Gaming startups this year. The amount of the investment fund is still undisclosed by the company.
“The next 18-24 months present a massive opportunity as India is set to become the second biggest smartphone market in the world. The market is at a inflection point and it is a green-field opportunity for game developers as domestic mobile game market grows significantly," said Reliance Entertainment Digital CEO Amit Khanduja.
Also, a part of Reliance Entertainment, Reliance Games has also announced investments worth over $50,000 in marketing and technology to support some Indian startups as part of its 'PG Connects' event.
Amit further added that, "We are more keen on strategic partnerships with startups than a particular quantum of financial investment where we can help the partner take their game to the next level for a launch. These partnerships include significant dollar investments in technology, marketing, analytics and people resources from Reliance Games."
As per FICCI-KPMG report, Indian gaming industry is projected to grow to Rs 3,080 crore by 2016-end and further to Rs 5,070 crore by the end of December 2020. Recently, Alibaba-backed Chinese mobile internet company UCWeb has also announced a $20 million funding program for Indian startups producing games and apps.
