Many startups in Canada complain that there is not enough capital in the country to help fund innovation. Game developer, Magmic, is trying to ease the monetary crunch and utilize Canadian innovation to develop commercially viable products by launching its own $4 million fund. The Ottawa-based firm made the news public at the recently concluded Ottawa International Games Conference.
Magmic currently has 50 employees in Ottawa and got started in 2002 with the development of its own games. Now the newly started fund will help the firm find new talent and independent game developers to create games that Magimic will then market and launch. The company expects to be utilizing platforms like iTunes or Xbox Live to delivers the gaming content.
The Ottawa International Games Conference also set the stage for a statement from the Entertainment Software Association of Canada CEO, Jayson Hilchie, who made a keynote speech at the event. He delivered some good news about the current state of the video game industry in the country and showed that “Canada has 329 videogame studios employing 16,500 full-time workers that generate more than $2.3 billion in GDP annually for Canada.”
He also added that, “Many people are still surprised to realize that Canada is the largest producer of videogames on a per capita basis, producing critically acclaimed video games on nearly all platforms and enjoyed all over the world.”
Nordicity has also given insight into the industry by releasing more data. TechVibes reported the stats by saying that an “average budget for console games is $8.7 million, produced by an average team of 65 persons in 583 days, as compared to an average budget of $300,000 for mobile games, a team of 7 persons and 156 days of production.”
Magmic wants to utilize the above mentioned positives of the Canadian video game industry to help it and the market grow. The company itself is “a leading developer and publisher of mobile social games and entertainment” and knows what is need to be successful in the competitive market. The company publishes “a full range of content, from original titles including Ka-Glom, and Texas Hold’em King to top licensed content from leading entertainment publishers like The New York Times, Mattel, and Rubik’s Cube.” The company releases its products on the “iTunes App Store, BlackBerry World, Google Play, Amazon App Store and various carrier decks.”
Source: TechVibes
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