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Chicago-based Venture Firm Gains Approval to Co-Invest in New Jersey’s High-Growth Startups through the NJIEF Program

CHICAGO, IL, UNITED STATES, September 20, 2023/EINPresswire.com/ — EMERGING Fund Management LLC today announced its approval as a Qualified Venture Firm (QVF) by the New Jersey Economic Development Authority (NJEDA) for participation in the New Jersey Innovation Evergreen Fund (NJIEF). This recognition allows EMERGING Fund to leverage up to $12.5 million annually to co-invest in innovative, high-growth businesses based in New Jersey.

EMERGING Fund’s investment are focused on disruptive ventures employing technology to heighten guest experiences, streamline operations, and promote sustainable growth within the restaurant industry. With its strategic engagement, EMERGING Fund offers capital, industry expertise, and a resource network to support their portfolio companies in realizing their ambitious growth objectives.

“Working with NJEDA in this initiative gives us an opportunity to help some of the state’s most promising restaurant and restaurant technology entrepreneurs take their businesses to the next level and simultaneously contribute to building New Jersey’s economy,” said Mathew Focht, General Partner and Founder of EMERGING Fund. “With our capital investment as well as access to a Who’s Who of restaurant industry veterans for strategic advice and mentorship, we can provide critical strategic growth resources for the next generation of businesses in this space.”

The NJIEF, established under the New Jersey Economic Recovery Act (ERA) of 2020 and signed into law by Governor Phil Murphy in 2021, is a groundbreaking initiative enabling the State of New Jersey to become an equity investor in early-stage businesses. With a commitment of up to $300 million, the state collaborates with approved qualified venture firms like EMERGING Fund to co-invest, bringing the total investment potential to $600 million.

The NJIEF’s unique approach to funding, which includes capital raised from the sale of tax credits auctioned in December 2022, aims to bolster the growth of New Jersey’s high-growth businesses. The program has garnered attention from venture firms nationwide, all recognizing New Jersey’s leadership in innovation.

NJEDA Chief Executive Officer Tim Sullivan recently emphasized the state’s dedication to innovation, stating, “The NJIEF offers a unique and responsive solution for getting capital into the hands of the state’s youngest companies while also building on New Jersey’s role as a leader in innovation.”

EMERGING Fund Management LLC joins two other venture capital firms approved in this recent round, bringing the total number of qualified venture firms to ten. Each firm can access the designated funds to co-invest in New Jersey’s most promising startups.

About EMERGING Fund
EMERGING Fund is among the first growth capital funds to pinpoint the explosive convergence of technology, “ResTech,” and restaurant & entertainment concepts. EMERGING Fund provides capital, strategic assistance, and industry knowledge to forward-thinking companies within the sector. With an emphasis on using technology to effect positive change, EMERGING Fund aims to transform the restaurant industry by investing in ventures that re-imagine the guest experience, enhance operational efficiency, and promote sustainability. For more information, visit https://EMERGING.com/fund/

David Bagley
Chief Investment Officer, EMERGING Fund
630-248-4145
email us here

Latest In-Depth Market Report Projects 641 million gamers by 2027

SILICON VALLEY, CA, USA, September 20, 2023/EINPresswire.com/ — Niko Partners, the world’s leading market research firm covering video games and esports in Asia, the Middle East, and North Africa, today announced that India is the fastest growing gamer market in Asia, with more than 641 million people projected to be playing video games on a regular basis by 2027. This data is just a small part of the newly released 79-page 2023 Niko Partners India Games Market report, that includes Niko’s proprietary market model and 5-year forecast through 2027, along with qualitative and quantitative analysis on gamer demand, behavior and usage for mobile, PC, console games.

Insights from the research show that total gamers in India are forecasted to surge a remarkable 343% between 2017 and 2027, significantly higher than China’s 21% projected growth in the same time period. 71.8% of gamers in India also engage with esports in some capacity and 43% of total gamers are women. In addition to mentioning fast-growing international companies in India such as Krafton, Garena, and Riot Games, other notable domestic game companies are mentioned such as Gametion, Nazara and Loco.

“As the fastest growing video games market in Asia by both revenue and total gamers, it is important for gaming and esports companies to understand the opportunities and challenges of the India market,” said Lisa Hanson, CEO of Niko Partners. “India has significant room and momentum to grow, with more people having access to the internet and more people willing to play games as well as spend money on them. One key factor in revenue generation is localizing your game for the market.”

Key takeaways from the India Games Market Report include:

• Niko Partners projects India video games revenue across all platforms forecast to reach $868 million in 2023, up 21.2% YoY.
India’s video game market is forecast to reach $1.6 billion in 2027, growing at a 5-year CAGR of 17.2%.

• The number of gamers in India across all platforms is forecast to reach 444 million in 2023, up 12.1% YoY.
The number of gamers across all platforms in India is forecast to reach 641.2 million in 2027, growing at a 5-year CAGR of 10.1%.

• India is a mobile first market with 96.8% of total gamers playing on a smartphones or tablets.

• 31% of the 444.4 million gamers will spend on video games in 2023, with annual ARPPU reaching $6.38

• The return of BGMI and Free Fire are positive signs for the industry and foreign game companies looking to enter the market.

The India Games Market report has 79 slides and includes a comprehensive market model and 5-year forecast through 2027 by games segment, growth drivers, key genres, and trends. The report provides details on esports, livestreaming, localization, payments, financial transaction events, and regulations. It also offers recommendations for companies looking to tap into the fastest growing video games market in Asia. Contact us for more information on our methodology for our ongoing market intelligence services and reports.

For more information, please visit  https://nikopartners.com/india-games-market-report/

ABOUT NIKO PARTNERS

Niko Partners is the world’s leading market research firm covering video games and esports in Asia, the Middle East, and North Africa. Leveraging unmatched local expertise with a global perspective, Niko Partners delivers the most in-depth market intelligence on the world’s fastest-growing regions. With our deeper understanding of these markets, game developers, publishers, investors, and suppliers can make smarter business decisions with the utmost confidence. Our detailed reports, subscription insights, and custom consulting services dig into the details of nuanced, complex markets, empowering firms with a stake in the video game and esports ecosystems to make the right moves for their organizations. Coverage areas include East Asia (Japan, S. Korea, Chinese Taipei), China, Southeast Asia (Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam), India, and MENA (Saudi Arabia, UAE, and Egypt in North Africa). The company is based in Silicon Valley, with offices in Shanghai, Bangkok, Jakarta, and London. Learn more at www.nikopartners.com

Lisa Hanson
Niko Partners, Inc.
+1 415-269-7303
email us here

By Nantoo Banerjee The United States Trade Representative, Ms. Katherine Chi Tai, may not be fully aware that most of the high-tech mass market electronics gadgets such as laptops, tablets and personal computers under global US brands exported to India are not manufactured in the US. They are built in China by US multinational corporations […]

The post Foreign Tech Firms Find India An Attractive Manufacturing Destination first appeared on Latest India news, analysis and reports on IPA Newspack.

CryptoChronic

Today, Chronic Games Limited is proud to launch CryptoChronic’s Public Beta, starting at 12:00 PM (noon) Central European Summer Time.

SHEUNG WAN, HONG KONG, September 15, 2023/EINPresswire.com/ — Marking a significant milestone for the blockchain gaming community, CryptoChronic‘s Public Beta is now accessible to everyone, completely free of charge, via its website – www.cryptochronic.com.

Bringing fun back to crypto, CryptoChronic is the free-to-earn cannabis-themed gaming metaverse that reinvents Pokémon and Tamagotchi as blockchain-based, digital-pet collectibles – Chronics – that gamers breed, nurture, and battle in Smoke-Offs against their friends.

To expand their user base and generate excitement, Chronic Games has launched an enhanced referral program. Esteemed community members are encouraged to refer their friends, with the opportunity to earn exclusive Chronic NFTs minted on the Ethereum blockchain as a generous token of gratitude. Detailed participation guidelines can be readily accessed through CryptoChronic’s social media channels.

Riccardo Cangini, CTO of Chronic Games, expressed his enthusiasm, stating: “The positive feedback and support from our community are highly encouraging, reaffirming our belief in CryptoChronic’s broad appeal. Making our Beta accessible to the public enables us to gather valuable player feedback, ensuring the game reaches its full potential. During this phase, players can explore and enjoy the game completely free while actively contributing to its improvement through feedback and bug reporting. A larger player base significantly enhances the gaming experience, and the increased concurrent usage also benefits our testing efforts, creating a mutually beneficial situation.”

Marco Prinzi, CEO of Chronic Games, echoed these sentiments: “We take immense pride in the collaborative growth we’ve nurtured alongside our valued fans. CryptoChronic represents a new era, where blockchain technology ensures genuine ownership of in-game assets, revolutionizing video game development. We extend an open invitation to all, urging them to join our launch and embark on a journey to establish higher standards for crypto-based gaming, thereby setting new benchmarks across the industry.”

As the community continues to grow, Chronic Games aims to gain momentum, identify effective solutions, and unveil the complete version during the upcoming bull market, supported by steadfast partners. CryptoChronic exemplifies Chronic Games Limited’s unwavering commitment to pushing the boundaries of blockchain gaming. By seamlessly merging cutting-edge technology with captivating gameplay, the company strives to establish a new standard in the gaming industry, where players have greater control and ownership over their virtual experiences.

Boiler Plate: About Chronic Games Limited

Based in Hong Kong, Chronic Games Limited is a pioneering developer and publisher of blockchain-powered video games. With a vision to revolutionize the gaming industry, the company combines innovative blockchain technology with immersive gameplay experiences. Chronic Games Limited aims to empower players with true ownership of in-game assets, fostering a vibrant and dynamic gaming ecosystem.

Marco Prinzi
Chronic Games Ltd
[email protected]
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By Dr. Gyan Pathak Preparations are afoot on the August 24 decision made in the first ever historic joint national convention of workers and farmers at Talkatora Stadium New Delhi for launching decisive protest actions across the country during forthcoming December-January, with the slogan “Oust Modi, Oust BJP”. Barring the RSS-BJP supported Bharatiya Mazdoor Sangh […]

The post Indian Workers For Decisive Protest Actions Before 2024 Lok Sabha Polls first appeared on Latest India news, analysis and reports on IPA Newspack.