Gaming unicorn Games24x7 seems to be planning to establish itself as a “technology platform” by making investments in firms developing innovative technology solutions. To do so, the firm has announced the TechXpedite accelerator, a 60-day accelerator program designed for startups in three key areas of gaming, Artificial Intelligence (AI), and impact-driven inclusive tech, with Amazon Web Services (AWS) as its cloud partner.
“Games24x7 has always been a technology company. Yes, we’re focused on gaming, but at the heart of it, we are a technology company,” Bhavin Pandya, co-founder and co-CEO, of Games24x7, told Business Standard.
“A lot of the problems that we're solving — such as understanding consumer behavior, our responsible product initiatives, or fraud detection, etc. — are not problems unique to us. The underlying technology can be used to build other platforms as well,” he added.
How Will Games24x7’s New Program Work
The latest initiative will give mentors, masterclasses, networking, and funding opportunities, along with credits worth $500,000 from more than 30 technology partners. The program works upon Games24x7’s previous “GameTech Accelerate” program that was announced in December 2023 in collaboration with the Karnataka government.
“Given our extensive experience spanning close to two decades, we are suitably placed to support the new-age entrepreneurs through mentorship, training, and access to capital as they bravely and passionately innovate to create disruptive products and services,” said Pandya.
Founded in 2006, Games24x7 is one of the three gaming unicorns in India, apart from Dream11 and Mobile Premier League (MPL). The company currently has a user base of more than 120 million players.
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Games24x7 Wants To Be Seen As Technology Platform
The new accelerator program is part of the firm's larger strategy to establish itself as a tech platform. The program is open to startups working on AI, gaming, and innovative technologies.
With an aim to scale innovation, TechXpedite will focus on empowering startups to create working proofs of concept (PoCs), use-case applications, and market-ready solutions. The accelerator will culminate in a pitch event in February next year, where selected startups will showcase their solutions to investors, experts, and domain leaders.
Games24x7 is also aiming to restart investments from Games24x7 Ventures, which is on a hiatus due to the recent imposition of a 28 percent blanket goods and service tax (GST) on online gaming by the government.