The article highlights India's potential to become a leading force in the global creative industry, leveraging its demographic advantages and technological capabilities. The focus is on the "Create in India, Create for the World" vision, emphasizing the growth of the Media & Entertainment (M&E) sector.
A key initiative is WAVES Xcelerator (WAVEX), part of the World Audio-Visual Entertainment Summit (WAVES) 2025, designed to connect young creators with industry leaders and provide funding and mentorship. This program aims to nurture startups in areas like animation, AI, AR/VR, gaming, and the metaverse.
The M&E sector is projected to grow substantially, but challenges in gaining global recognition remain. WAVES addresses these challenges by offering a platform for startups to showcase their work to global investors.
The initiative promotes inclusivity, supporting women-led startups and emphasizing intellectual property protection as crucial for growth and innovation.
The article concludes with an optimistic outlook, highlighting the potential of India's young creators and the government's commitment to fostering a globally competitive startup ecosystem. WAVES 2025 is presented as a launchpad for the next generation of creative entrepreneurs.
In the face of global trade tariffs and stock market volatility, India shines as a resilient economy. Leveraging its demographic advantages and technological capabilities, India can turn challenges into opportunities, positioning itself as a global ‘Creative Powerhouse.’ With a rich storytelling tradition, India’s Media & Entertainment (M&E) sector aims to ‘Connect Creators’ worldwide through the ‘Create in India, Create for the World’ vision.
India is home to a burgeoning population of young creators across various fields such as film, music, art, and technology. Notably, Namit Malhotra’s DNEG, the visual effects and animation studio demonstrated ground-breaking VFX in the Oscar-winning success of Dune 2. This marked India’s seventh Oscar victory, highlighting India’s growing influence in the global entertainment industry. The evolution from traditional film-making to digital production showcases the country’s capability in creating world-class content.
WAVES Xcelerator (WAVEX), part of the Government of India’s World Audio-Visual Entertainment Summit (WAVES) 2025, aims to connect young creators with industry leaders and foster startup growth.
Scheduled for May 2025 in Mumbai, WAVES seeks to enhance India’s M&E startup ecosystem by providing mentorship, funding, and global opportunities. The sector is projected to grow from ₹2,422 billion in 2023 to ₹3,067 billion by 2027, encompassing innovative fields such as gaming, Artificial Intelligence (AI), and the metaverse.
Despite challenges in gaining recognition, WAVES offers a platform for emerging startups to showcase their work to global investors. The initiative also includes women-led startups such as Lapwing Studios and Vygr Media, fostering inclusivity within the M&E ecosystem.
WAVES is committed to creating a dynamic and competitive startup environment, serving as a launchpad for international success. WAVEX will directly address barriers to capital, mentorship, and global exposure, offering not only financial support but also a structured ecosystem for growth. Having started Biocon with just ₹10,000 and a vision, I understand the significance of such catalytic platforms.
As a supporter of the arts through initiatives such as the Museum of Art and Photography (MAP) and Science Gallery Bengaluru, I believe that a nation’s culture is rooted in both its arts and sciences. Both arts and science are rooted in creativity; scientists experiment in labs just as artists do on canvas.
India, which thrives on the synergy of its demographic advantage, technological capabilities, and rich cultural heritage, is a flourishing hub of creativity. This fusion is not merely philosophical in India; it is practical, shaping industries and driving innovation within the M&E sector.
With a storytelling tradition that spans centuries, India is uniquely positioned to emerge as a global creative powerhouse. From classical dance to cinema, and from comics to immersive technology, we are entering an exciting era where creativity intersects with cutting-edge innovation. The vision of ‘Create in India, Create for the World’ encapsulates this ambition perfectly.
WAVES exemplifies the beautiful convergence of technology and storytelling. WAVEX is poised to tap into this by supporting startups in innovative areas such as animation, AI, Augmented Reality/Virtual Reality (AR/VR), gaming, and the metaverse.
With more than 4,500 sellers and over 5,900 buyers registered for the WAVES Bazaar, the initiative promises to connect Indian startups with global players, accelerating India’s ascent as a leader in the global M&E landscape.
WAVES also champions innovation beyond traditional media. Companies such as Erucanavis Technologies are pioneering AI-driven playable ads, while Amaze Studios and Offline Human Studios are redefining storytelling through animation and VR. Ed-tech ventures such as InscapeXR and Vision Impact are transforming learning with immersive media. Together, these startups highlight the vast potential and global relevance of India’s creative ecosystem.
Intellectual Property, powering India’s next-gen creative start-ups: Recognition and protection of intellectual property are vital for innovation in India’s rapidly expanding media and entertainment sector. For start-ups, IP is not just defensive — it is a strategic asset that drives market value, investment, and sustainable growth. In an era of collaborative creation across film, music, animation, gaming, and design, clear IP frameworks ensure fair attribution and value-sharing among contributors. Drawing lessons from sectors such as pharmaceuticals, India’s creative economy must balance protection with access through flexible licensing models. Strengthening IP awareness and fostering inclusive innovation will be key to positioning India as a global leader in storytelling and digital entertainment.
India has long been celebrated for its rich cultural heritage and enduring legacy of creativity.
This creative energy finds its most vibrant expression in our youth, who are the creators of today and the visionaries of tomorrow. Across film, music, animation, gaming, and digital media, young Indian creators are pushing boundaries and redefining genres.
The Indian government’s commitment to nurturing this potential is evident in its support for initiatives such as WAVES, which is designed to foster a dynamic, innovative, and globally competitive startup ecosystem in the Media and Entertainment sector.
Today, through WAVES, we are not only investing in startups, but we are also investing in storytelling, in self-expression, and in the creative economy that will define the future. Whether it is in a biotech lab or a digital studio, creativity is the currency that will shape tomorrow’s industries and identities.
WAVES 2025 is more than a celebration of India’s M&E industry; it is a launchpad for the next generation of creators and entrepreneurs poised to transform how the world consumes entertainment, education, and culture.
As an advisory board member of WAVES, I am proud to be part of this transformative journey. The impact of this initiative will go far beyond studios and boardrooms, echoing in every story told, every startup scaled, and every innovation that challenges convention.
India’s moment to lead a global creative revolution is here. Let us ‘Create in India, Create for the World’ and show the world the boundless power of our imagination.
Kiran Mazumdar-Shaw is Chairperson, Biocon Group
Published - April 26, 2025 12:08 am IST
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