Oct 16, 2024

Listen to this story Games24x7, an Indian online gaming company, recently announced the launch of the second edition of its accelerator program, TechXpedite, with the support of the Karnataka government. With AWS as its cloud partner, this 60-day accelerator program is designed to empower startups in gaming, AI, and inclusive technology. According to a NASSCOM report, Bengaluru is home to over 7,000 startups, solidifying its status as India’s leading startup hub and accounting for 20% of the country’s overall startup activity. Speaking to AIM Media House at IGIC 2024, Sanjeev Kumar Gupta , the CEO of Karnataka Digital Economy Mission, noted, “There are over 1,000 AI startups in the state. With initiatives like Beyond Bengaluru, we are also promoting AI startups in Mysuru, Hubli, and Mangaluru.” Earlier, at London Tech Week, state IT/BT minister Priyank Kharge unveiled a new scale-up program called Hypergrowth Global Karnataka. It aims to accelerate the global commercialisation and international market expansion of the best tech companies in Bengaluru and Karnataka. The program offers local companies access to global mentors, expert scaling advice from leading executives, go-to-market support, and connections to potential new customers and investors to enhance their international growth capabilities. Currently, many accelerator programs are functional in India including NVIDIA’s Inception program, India Accelerator, JioGenNext, and AWS. But coming down to online real money or skill gaming, there has been significant growth only in recent years. Games24x7’s Accelerator Program At Games24x7 , their founding thesis since 2006 has been to connect people with the games they love and offer gaming as a service. It took them three years (2006 to 2009) to launch the first product, which is almost unheard of today when startups are incubated in months. Last year, it launched GameTech Accelerate, initially focused on gaming, but soon realised that technology, particularly AI and machine learning, is central to everything. In an exclusive conversation with AIM, Bhavin Pandya , co-CEO & co-founder, Games24x7, said, “Today, 77% of Indian startups use technologies like AI, machine learning, IoT, or blockchain. That’s why we wanted to broaden our focus and contribute more broadly to the tech startup ecosystem, not just gaming.” This led them to launch TechSpedite, the next phase of their accelerator program, which will expand to more cities and focus on deep technology. “We’re now tackling challenges like designing integrated circuits and chips for use in various devices, addressing global problems. For years, the Indian tech scene has focused on solving problems from the West—like how Flipkart emerged as an answer to Amazon, or Ola to Uber. But now, we are at a stage where we can solve uniquely Indian challenges,” Pandya said. Second Edition of TechXpedite Accelerator Program In December 2023, in partnership with the Government of Karnataka, the ‘GameTech Accelerate – The Future of Gaming’ accelerator programme was launched to nurture and propel promising ventures offering innovative and viable solutions for India’s evolving online gaming industry. The programme received over 200 applications resulting in the selection of 15 emerging startups across four key focus areas, including New Games (Real Money, Casual, Hyper Casual, Educational, Simulation, Strategy, and MMO); Real-Time Analytics, Telemetry & Personalisation; Security and Anti-Cheating Measures; and Community and Social Integration. Speaking at the launch event, Kharge said, “Initiatives like TechXpedite are the kind of catalysts that will go a long way in accelerating the next phase of innovation, helping early-stage startups grow into global leaders.” For this year’s edition, applications to the program are open till November 10. The program will culminate in a pitch event in February 2025, where selected startups will present their solutions to a panel of investors, industry experts, and domain leaders. Pandya highlighted, “Startups are the future. By 2030, the number of startups is expected to grow by 2.6 times, from 90,000 today to over 2,50,000. This growth will only be possible if we continue investing in the startup ecosystem.” Karnataka Stands Tall The state recently signed a letter of intent with the World Economic Forum (WEF) to establish a dedicated AI centre, aiming to establish itself as a global AI hub. Further, the state government signed eight MoUs with global firms at the WEF meet in Davos, securing investments worth INR 23,000 crore across AI, citizen services, sustainability, and e-governance. Moreover, the emergence of companies like Sarvam AI , which focuses on developing advanced AI models, reflects Karnataks’s commitment to technological innovation. Krutrim AI, led by Ola founder Bhavish Aggarwal, has raised $50 million in funding at a $1 billion valuation and is now India’s first AI startup to reach unicorn status. Innovation in AI isn’t limited to corporate giants. Startups like KOGO OS are disrupting markets with their AI operating systems, offering modular AI assistants tailored for diverse industries. Meanwhile, Karya AI is pioneering in the rural employment sector, leveraging AI to create job opportunities through tasks in local languages, with notable partnerships with tech giants like Microsoft and Google. These initiatives underscore the state’s status as a hub for AI innovation, promising transformative impacts across multiple sectors. 📣 Want to advertise in AIM? Book here