Gaming
From Panels to Portfolios Comic Con and IICT Team Up for Creator Power
MUMBAI: When cosplay meets classroom and panels turn into portfolios, you know India’s creative industry is getting its origin story right. In a move straight out of a well-scripted crossover, Comic Con India and the Indian Institute of Creative Technologies (IICT) have inked an MoU to jointly supercharge India’s animation, gaming, comics, and extended reality (AVGC-XR) ecosystem.
The partnership, announced during the launch of the IICT-NFDC campus in Mumbai and the unveiling of the WAVES Outcome Report, was signed by Ashish Kulkarni, Board Member, IICT, and Shefali Johnson, CEO, Comic Con India. The high-powered event also saw the presence of government heavyweights like Devendra Fadnavis, deputy chief minister of Maharashtra, Ashwini Vaishnaw, union minister for I&B, Railways and IT, and Sanjay Jaju, secretary, ministry of information & broadcasting, a clear signal that India’s creative economy is getting serious state backing.
Comic Con India, now part of Nodwin Gaming, has long been the country’s pop culture mothership, attracting fans, creators, and cosplayers in droves. On the other side, IICT, a newly announced National Centre of Excellence for AVGC-XR aims to be the IIT of the creative world, with a mission to train top talent, foster original IP, and bridge academia with the industry.
The MoU packs in more than just fanfare. IICT students will get a dedicated showcase zone at Comic Con India events, along with masterclasses from top creators in gaming, comics, animation, and XR. The partnership also includes hackathons, design jams, behind-the-scenes internships, and initiatives to promote youth-led fan art and indie content creation.
The collaboration comes at a time when India’s AVGC-XR sector is levelling up. As per the FX & Beyond: Shaping India’s AVGC Landscape report, the sector accounted for 20 per cent of the broader M&E industry in 2023, with revenues of 3.9 billion dollars. That figure is projected to rise to 6.8 billion dollars by 2026. Perhaps more crucially, AVGC-XR is expected to generate 160,000 new jobs annually with a roadmap to reach over 2 million direct jobs by 2030.
“We are proud to collaborate with IICT as part of the broader AVGC-XR vision for India,” said Shefali Johnson. “Through Comic Con, students can gain mentorship, connect with pop culture communities, and better understand the commercial dynamics of their craft.”
Ashish Kulkarni added, “This partnership aligns perfectly with the government’s vision of making India a global creative content hub. We aim to carve pathways for Indigenous IP using a transmedia ecosystem and build a vibrant pipeline of cultural ambassadors from India.”
For fans, creators, and students alike, this crossover has franchise potential. With India looking to go from content consumer to content powerhouse, the IICT-Comic Con alliance might just be the origin story the AVGC-XR sector needs.
Get your pens and pixels ready.
Gaming
Dream Sports sees 100 plus exits after gaming ban forces overhaul
Company splits into eight units as real money gaming law hits revenue.
MUMBAI: For a company built on fantasy leagues, reality has suddenly rewritten the rulebook. More than 100 employees have exited Dream Sports, the parent of Dream11, after the company reorganised its operations following India’s ban on real money online gaming. The shake up came after the Promotion and Regulation of Online Gaming Act, 2025 came into force in August 2025, prohibiting games where users deposit money expecting winnings. The regulation struck at the heart of the fantasy gaming industry and dramatically affected Dream Sports’ core business, wiping out about 95 percent of its revenue and all of its profits.
In response, the Mumbai based company shifted into what chief executive officer Harsh Jain described as “startup mode”, splitting its operations into eight independent business units in December.
Around 700 employees were reassigned across these newly formed ventures based on their experience and interests. However, roughly 15 percent opted to leave the company.
A spokesperson for Dream Sports said many of those who exited were experienced professionals accustomed to running scaled businesses rather than early stage ventures.
“Since some of these employees were experienced with running high scale businesses and not startups, around 15 percent chose to leave and join other scaled companies or start ventures of their own,” the spokesperson said.
Despite the departures, the company noted that the attrition rate is only slightly higher than its earlier level of around 10 percent before the ban. Dream Sports now has close to 950 employees and is not currently hiring, choosing instead to focus on stabilising its existing workforce.
The restructuring has transformed Dream Sports from a fantasy gaming company into a broader sports entertainment platform. The eight units now operate independently, each focusing on different segments of the sports and technology ecosystem.
These include Dream11, sports streaming platform Fancode, sports travel service DreamSetGo, mobile game Dream Cricket and artificial intelligence initiative Dream Sports AI, which includes sports analytics platform Dream Play.
Other ventures include fintech product Dream Money, open source initiative Dream Horizon and the philanthropic arm Dream Sports Foundation.
As part of cost saving efforts, Dream Sports also relocated its headquarters from Bandra Kurla Complex to Worli earlier this year. The new office, called Dream Sports Stadium, brings teams from its various brands together under one roof to improve collaboration and operational efficiency.
Jain had earlier said the company removed bonus lock in timelines for employees hired in recent years, allowing those who wished to leave to exit with pro rata payouts.
“We want people who are fully into the startup mode and willing to work for it, and we will share that reward if it comes,” he said.
Founded in 2008 by Harsh Jain and Bhavit Sheth, Dream Sports was last valued at 8 billion dollars after raising 840 million dollars in 2021 from investors including Falcon Edge Capital, DST Global, D1 Capital Partners, RedBird Capital Partners, Tiger Global Management, TPG and Footpath Ventures.
The new gaming law has forced several companies in the fantasy gaming sector to either shut down or pivot their business models, signalling a significant reset for one of India’s fastest growing digital entertainment industries.
