Hopeful independent video game entrepreneurs have one less source to turn to for start-up money, as incubator Joystick Labs will no longer be funding new companies.
Started just over two years ago
by a group that included Red Storm Entertainment co-founder Juan Beito, the group's program provided a small amount of funding and network support to get a new developer going, in exchange for a minority ownership in the company.
The group blamed a harsh independent video game climate for shutting down the program, saying that getting a digital game noticed is more difficult than it had realized.
"It has become very difficult for an independent developer to get noticed," managing director John Austin told local New England-area outlet The News & Observer
. "For every Angry Birds
, there are literally tens of thousands of great companies not getting noticed."
Since its inception, Joystick Labs funded seven game companies, three of which are still operational. The highest-profile game to come from Joystick funding is Mighty Rabbit Studios' Saturday Morning RPG
, a mobile title that apparently has not been selling very well.