Tencent is broadening its Venture Lab program to enhance support for early-stage developers on a global scale
Tencent, recognized as the world's leading games enterprise, is intensifying its support for novice game developers through its Venture Lab program. This initiative aims to assist fledgling studios by offering financial backing, assistance with publishing and marketing, consulting services, and access to technology and other business resources.
Leading the initiative is Juno Shin, who has been with Tencent for 12 years, specializing in business development and investment. He has assembled a team of about 20 industry professionals within Venture Lab to broaden the scope of services offered.
Venture Lab has already made notable contributions, supporting titles like Last Epoch by indie developers Eleventh Hour Games and the German-made Enshrouded. The latter recently achieved a milestone of three million players within seven months of its release.
Shin conveyed to GamesIndustry.biz that the time is ripe for formally announcing Venture Lab's offerings, further utilizing the team's expertise to mitigate risks that typically ensnare startups.
Discussing the challenges startups face, Shin remarked, "Working with numerous studios, success is sweet though infrequent, while failure is more common - an inherent business reality." He emphasized the frequent pitfalls encountered by early-stage creators who, while being innovative, may not possess the managerial acumen needed for operations like payroll or platform negotiations.
Venture Lab is part of Tencent's broader strategy to assist external developers, following its earlier initiative with the Level Infinite publishing brand.
Shin emphasized that the objective is to guide developers through their initial phases—to move from nothing to having a viable product—and once successful, aid in scaling their efforts significantly.
Tencent boasts a commanding presence in the gaming sector, not only through its internally-produced games like Honor of Kings but also by owning or having stakes in prominent companies such as Sumo Group, Funcom, Riot Games, and others like Ubisoft and Epic Games.
When considering Tencent's industry influence, Shin acknowledged that aiding smaller studios aligns with the company’s interests, despite not being altruistic. He cited examples of groundbreaking games developed by small teams, such as Rust and No Man's Sky, underscoring the role of innovation in smaller settings.
By supporting these emerging studios, Tencent aims to foster creative and financial breakthroughs, co-creating successes that benefit both the company and the gaming community. Shin concluded by stating that this strategy allows everyone to win—new studios gain opportunities, Tencent shares in successes, and consumers enjoy novel gaming experiences rather than repetitive sequels.
