The Business Bytes
New Delhi, November 26, 2024 (TBB Bureau): In a monumental stride towards redefining India’s position in the global gaming and interactive entertainment industry, the Department for Promotion of Industry and Internal Trade (DPIIT) has signed a two-year Memorandum of Understanding (MoU) with WinZO, the country’s largest social gaming platform. This groundbreaking collaboration aims to bolster innovation, empower startups, and nurture skilled talent, positioning India as a global hub for interactive entertainment.
The partnership is set to transform India’s gaming landscape by establishing a robust ecosystem encompassing over 2,000 startups, innovators, and students. Through mentorship, industry insights, and access to global opportunities, the initiative aligns with Prime Minister Narendra Modi’s Atmanirbhar Bharat vision. It also aims to capture a substantial share of the $300 billion global gaming market.
A centerpiece of this collaboration is the creation of a state-of-the-art Center of Excellence (CoE). Spearheaded by WinZO and supported by DPIIT, the CoE will act as a launchpad for startups and entrepreneurs, focusing on: Developing globally competitive “Made in India” intellectual properties; Innovating monetization strategies tailored for Indian gaming assets; Attracting foreign direct investment (FDI) into the sector; Enhancing workforce skills in coding, animation, game design, and development; and Driving local manufacturing of interactive technology products.
The partnership’s initiatives include hackathons, workshops, and accelerator programs to nurture creativity and entrepreneurship. Startups will also gain access to WinZO’s $50 million fund, mentorship from industry stalwarts, and direct investor connections. WinZO’s flagship Tech Triumph Program (Bharat Edition) will expand under this MoU, further showcasing Indian gaming talent at premier global events such as the Game Developers Conference (GDC) and Gamescom LATAM.
According to a recent USISPF report, India’s interactive entertainment sector is projected to grow to $60 billion by 2034, creating over two million jobs. The DPIIT-WinZO partnership is poised to tap into this potential by addressing long-standing challenges such as monetization and skill gaps, while fostering innovation and entrepreneurship.
Sanjiv Singh, Joint Secretary, DPIIT, remarked, “This collaboration marks a significant milestone in realizing India’s potential as a global powerhouse in interactive entertainment. By fostering innovation, entrepreneurship, and excellence, we are aligning with the Hon’ble Prime Minister’s vision of self-reliance and global leadership in technology.”
Dr. Sumeet Kumar Jarangal, Director (Startup India), DPIIT, highlighted the initiative’s transformative potential, saying, “This partnership underscores our commitment to nurturing a pipeline of talent and innovation that will place India at the forefront of the global gaming industry.”
Saumya Singh Rathore, Co-Founder of WinZO, added, “This MoU represents a transformative step toward creating an ecosystem that fosters innovation, attracts FDI, and positions Indian intellectual property on the global stage. Inspired by the Hon’ble Prime Minister’s vision, we aim to shape India into a global leader in gaming and technology innovation.”
This first-of-its-kind partnership between DPIIT and WinZO is set to drive India’s interactive entertainment industry into a new era of growth and innovation. With a focus on fostering startups, enhancing skills, and creating world-class intellectual properties, it reaffirms India’s commitment to becoming a global leader in gaming and interactive entertainment.
