<p>Bengaluru: The Karnataka government on Tuesday announced the Bengaluru GAFX, an AVGC-XR Conference (animation, visual effects, gaming, comics, and extended reality) from February 27 to March 1. The annual event will comprise of companies from the industry as well as potential investment candidates. </p>.<p>“The government of Karnataka sees its role as an accelerator, fostering the fusion of human creativity with artificial intelligence (AI) tools in ways that will transform this sector,” said Priyank Kharge, IT/BT minister of Karnataka, at a media briefing.</p>.<p>The state government has been planning an AVGC-XR Park and Gaming center of excellence (CoE) since the previous year. Karnataka's 20% market share is driven by around 300 specialised AVGC-XR studios employing around 15,000 professionals.</p>.<p>To boost the AVGC-XR sector, KITVEN Fund-4, with a fund size of Rs 20 crore, is dedicated to investing in startups and SMEs in the sector. The funding ranges from Rs 50 lakh to Rs 1 crore per company initially, with follow-on investments of up to Rs 2 crore, Kharge had said previously.</p>
<p>Bengaluru: The Karnataka government on Tuesday announced the Bengaluru GAFX, an AVGC-XR Conference (animation, visual effects, gaming, comics, and extended reality) from February 27 to March 1. The annual event will comprise of companies from the industry as well as potential investment candidates. </p>.<p>“The government of Karnataka sees its role as an accelerator, fostering the fusion of human creativity with artificial intelligence (AI) tools in ways that will transform this sector,” said Priyank Kharge, IT/BT minister of Karnataka, at a media briefing.</p>.<p>The state government has been planning an AVGC-XR Park and Gaming center of excellence (CoE) since the previous year. Karnataka's 20% market share is driven by around 300 specialised AVGC-XR studios employing around 15,000 professionals.</p>.<p>To boost the AVGC-XR sector, KITVEN Fund-4, with a fund size of Rs 20 crore, is dedicated to investing in startups and SMEs in the sector. The funding ranges from Rs 50 lakh to Rs 1 crore per company initially, with follow-on investments of up to Rs 2 crore, Kharge had said previously.</p>