Govt: WAVES platforms boost business, innovation in M&E sector

The Centre has informed the Lok Sabha that the Ministry of Information and Broadcasting has established two digital platforms WAVES Bazaar and WaveX to strengthen India’s Animation, Visual Effects, Gaming, Comics and Extended Reality (AVGC-XR) ecosystem and create new business, investment and innovation opportunities for the Media & Entertainment sector.

In a written reply to an Unstarred Question, Minister of State for Information and Broadcasting and Parliamentary Affairs, Dr. L. Murugan, said WAVES Bazaar has been developed as a year-round global marketplace for the Media & Entertainment industry.

According to a MIB press release today,the platform enables business discovery, business-to-business (B2B) meetings, market access, investment facilitation and international collaboration across films, animation, visual effects (VFX), gaming, extended reality (XR), immersive media, music and digital content.

Dr. Murugan also informed the House that the Ministry has established WaveX as a dedicated startup platform to promote innovation in the Media & Entertainment sector.

The platform connects startups with investors, incubators and industry partners through investor connect initiatives, incubation support and pitching opportunities. However, WaveX does not provide direct funding to startups.

The Minister further said that the government has established the Indian Institute of Creative Technologies (IICT) as the National Centre of Excellence for the AVGC-XR sector in collaboration with the Government of Maharashtra and industry bodies.

He added that IICT has partnered with leading global technology companies and academic institutions to strengthen India’s AVGC-XR ecosystem.

These partnerships focus on curriculum co-development, specialised skill development programmes, access to advanced technologies, research and development, internships, startup incubation, scholarships, industry mentorship and international skill exchange.

The information was provided by Dr. L. Murugan in a written reply to an Unstarred Question in the Lok Sabha.

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“This initiative will empower subscribers to pay online and subscribe to the channels they want to watch and get it activated on their TV sets in real-time without any delay. Without needing to undertake any software development, LMOs can approach Mobiezy for their pre-built and pre-integrated solution that uses NXTDigital’s news APIs and can be up and running with their own mobile apps within just a few days.”

RU Ediriwira, Group CTO, NXTDigital Limited

“With the launch of Partnership for Growth 3.0 we intend to expand our network with 40 new NXTHUBs, each offering up to 650 live TV channels and broadband. Our efforts are focused on harnessing the convergence of technologies, developing robust apps and creating new business models that will help the overall ecosystem, delivering the best experience to our subscribers. We hope to achieve a stronger foothold in the rural regions of the country and grow our subscriber base.”

N.K. Rouse, COO, NXT Digital Ltd

“One of the key principles of the Hinduja Group is ‘Partnership for Growth’. After 2.0 saw the launch of HITS to connect LMOs in even the most remote locations through the only satellite-based cable TV platform in India; 3.0 focuses not just on strengthening the overall ecosystem we have built, but harnessing the convergence of technologies – to be delivered through a national network of NXTHUBs. Video and broadband are only the beginning of the digital highway of services that we have developed for roll-out backed by a robust suite of innovative apps developed by service providers exclusively for our LMOs and subscribers.”

Vynsley Fernandes, MD & CEO, NXTDigital Limited

“Wireline broadband is becoming ever more important not only in connecting homes across the country but also small to large enterprises-to the digital economy. The NXTHUBs will be the perfect point-of-presence to offer broadband services to cater to these consumer needs.”

Yugal Kishore Sharma CEO, ONEOTT Intertainment Limited

Amazing and grim battle for survival. Guess it will end up in Supreme Court. All that NCLT asked Zee to do was to file a reply to Invesco petition for a EGM. Now this is getting too serious. So far Invesco has been hammered for demanding an EGM. What is Zee upto? Ofcourse my lawyer community knows better!

Ashok Mansukhani, Corporate Law and Media Law Advocate at Ashokmansukhani Associates

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Govt: WAVES platforms boost business, innovation in M&E sector

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