SucSEED Indovation Fund and STPI IMAGE CoE collaborate to support the gaming cohorts
Gaming Fund under the umbrella of Hyderabad headquartered SucSEED Indovation Fund continues to work with various partners to discover and support gaming start-ups with seed funding and organize mentorship support from successful Gaming Founders & experienced Influencers.
SucSEED Indovation Fund and STPI led IMAGE CoE had announced their collaboration earlier to aid the gaming startup ecosystem. Gaming startups would be incubated with STPI IMAGE COE and SucSEED Innovation Fund would invest in the select Gaming Startups from the cohort. Up to $ 100,000 in funding will be offered for early-stage product development. Several successful Gaming Founders have joined the SucSEED Indovation Fund to create a Gaming Sub-Fund for this purpose and they bring the immense experience as value-add alongside their capital. United Gamers Hideout (UGH) ESports and Stareout games are the two such startups from Cohort-1 that have received funding from SucSEED Indovation Gaming Fund through this partnership.
UGH creates innovative esports IPs that enables professional gaming in India. Unlike other sports leagues, UGH offers a unique dual system of talent hunt feeding into a franchise style league. Providing a platform for esports teams from around the world to scout players for professional contracts to represent them in our new franchised league. UGH has already established a strong event roadmap for the next two years including tournament licenses and strategic partnerships.
United Gamers Hideout was established in September 2019 by Abhisek Moharana with the vision to create the path for millions of aspiring players to play professionally and represent Indian at global level.
Stareout games is a hyper casual game studio. Unlike other game studios, Stareout takes a regional content approach for giving a more immersive gaming experience for users. During the past 6 months,
Stareout was able to launch and attract over 100k organic users across their games.
Vamsi Raju, Founder and CEO at Stareout games said, “Hyper Casual gaming is a low commitment and quick stress relief alternative for long form entertainment. We are building gaming experiences that are tailored to the desi audience and are worth playing ”. He further added that “The seed fund raised from SucSEED Indovation will help us prove the product market fit for regional based games which people can play in their local languages, targeting tier 2 and tier 3 cities primarily. We will be working on creating new and unique user acquisition strategies to get users in India at the lowest possible cost. ”
Founded in 2019, Stareout Games is a gaming consultancy company catering to global publishers and game studios. Over the years with the experiences of building and scaling hyper casual games across various markets & considering the rapid growth in Indian markets, Stareout Games has pivoted the business model and started launching under our own banner.
Sridhar Muppidi, Founder of PurpleTalk and of YesGnome, one of the largest game development and publishing companies in India, who is one of the key stakeholders in the SucSEED Indovation Gaming Sub-Fund; said: “India, with its immense talent pool, can potentially grab a sizable chunk of the $ 100B global gaming industry. However, there aren’t enough companies going after this opportunity, so some of us in the industry figured the best way to accelerate this is by investing at a pre-seed stage in a large number of gaming entrepreneurs. To achieve this, most of the top gaming enterprises and companies in India have come together to launch this Gaming fund with SucSEED. “
IMAGE Center of Entrepreneurship is an initiative by Software Tech Parks of India (STPI) in conjunction with the Ministry of Electronics and Information Technology (MeitY) and the Government Of Telangana. The IMAGE CoE Accelerator Program is a one-of-a-kind program that provides mentorship, office space, seed funding, and other incentives to entrepreneurs in gaming, computer vision, artificial intelligence, and VFX industries. IMAGE CoE Accelerator Program is currently running its pilot cohorts and has started registrations for the next cohort.