B2G Initiatives: Establishing a National Centre of Excellence for AVGC-XR
B2G Initiatives Drive National Centre of Excellence for AVGC-XR
The union cabinet has approved the establishment of a National Centre of Excellence (NCoE) for animation, visual effects, gaming, comics, and extended reality (AVGC-XR). This initiative seeks to create intellectual properties (IPs) for domestic use and global markets.
Strategic Partnerships for Success
In collaboration with industry leaders like the Federation of Indian Chambers of Commerce & Industry (FICCI) and the Confederation of Indian Industry (CII), the Indian government aims to set up the NCoE as a non-profit company in Mumbai. Specialized training programs will equip both amateurs and professionals with vital skills in cutting-edge AVGC-XR technologies.
Fostering Innovation and Research
- Research and Development: The NCoE will unite experts from computer science, engineering, design, and art.
- Incubator and Accelerator Role: It will provide resources to nurture startups in the AVGC-XR industry.
Finance Minister Nirmala Sitharaman highlighted the importance of the AVGC sector in her budget speech for FY23, leading to the formation of an AVGC Task Force in April 2022.
A Thriving AVGC Ecosystem
- Rajasthan's AVGC-XR policy aims to create 50,000 jobs over five years.
- Karnataka launched a ₹20 Crore AVGC-focused VC fund in January.
- Kerala seeks to capture at least 10% of the AVGC-XR export market.
With the AVGC sector valued at around **$350 billion**, increasing India’s market share is crucial. The government aims to boost this from 1% to 5% by 2025, as emphasized in Prime Minister Modi's Independence Day speech.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.