WAVES: Nurturing Young Creators & India's M&E Startups
Kiran Mazumdar-Shaw
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 like film, music, art and technology. Notably, Namit Malhotra’s DNEG, the visual effects and animation studio that demonstrated groundbreaking VFX in the Oscar-winning success of Dune 2. This marked India’s 7th Oscar victory highlighting India's growing influence in the global entertainment industry. The evolution from traditional filmmaking 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 like gaming, AI, and the metaverse.
Despite challenges in gaining recognition, WAVES offers a platform for startups such as Brahman Game Studios, Keybound, and Vayon Cloud to showcase their work to global investors. The initiative also includes women-led startups like 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 Rs.10,000 and a vision, I understand significance of such catalytic platforms.
Creative Hub
As a supporter of the arts through initiatives like 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.
A Catalyst for Creative Startups
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, AR/VR, gaming, and the metaverse.
With more than 4500 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 like 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 like 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.
A Vision for the Future
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 like WAVES, which is designed to foster a dynamic, innovative, and globally competitive startup ecosystem in the Media & 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.
(Writer Kiran Mazumdar-Shaw is the Chairperson at Biocon Group)
April 25, 2025