[November 21, 2016]

Game Industry Veterans Guha and Karthik Bala Announce Formation of Velan Studios

Velan Studios, a new independent video game developer, based in Troy, N.Y., announced today it will focus on developing innovative, experimental games that can lead to new kinds of experiences for players around the world. The game studio is an initiative of Velan Ventures, formed by brothers Guha Bala and Karthik Bala, the original founders of the prolific, award-winning video game company Vicarious Visions.

"We are at a moment in time where technology is exploding in every possible direction. New platforms, interfaces, sensors, AR/VR, cloud computing, maker technologies, the list goes on," said founder and CEO, Karthik Bala. "It's an unprecedented opportunity for new innovation, creativity, and commercial opportunity in video games."

Velan Studios will initially have small experimental prototype teams comprised of game industry veterans and top new talent to discover the breakthrough experiences that can become the global entertainment franchises of tomorrow. Its studio will be located in the historic downtown area of Troy.

"Troy is a great location to expand the video game development landscape in the Capital Region because it is a place where more and more creative companies are calling home," said Guha Bala, founder and President. "We are excited to bring more creative talet to the area, and make the Capital Region of New York State a destination for the world's best developers."

Karthik and Guha Bala founded the game developer Vicarious Visions in 1991 while in high school. They grew the company at Rensselaer Polytechnic Institute's Incubator and Tech Park, and eventually moved the studio location to Menands, N.Y. after Activision (News - Alert) Publishing, Inc. acquired the studio in 2005. Over the last 25 years, the Balas took the studio from their parents' basement to the forefront of AAA console games by developing and growing multiple multi-billion dollar franchises. The Balas left the 150-person studio earlier this year to pursue new, entrepreneurial opportunities, including spending time at leading universities to discuss the future of entertainment software and tools.

This year, New York State created the Digital Gaming Hub program, designating RPI, RIT and NYU as Digital Gaming Hubs. The Hubs' objectives are to increase the economic impact of gaming degree programs in New York State by fostering innovation and creating collaborative activities that spur new games and companies, as well as provide resources and mentoring to students and entrepreneurs alike to grow the industry in the state.

"This is a new opportunity for creative expression in the industry and in the region," says Karthik Bala. "We are working with institutions like RPI, RIT and NYU to bring the best and brightest young talent of New York together with experienced game developers."

About Velan Ventures: Founded by brothers Karthik & Guha Bala, Velan Ventures is an innovation company that supports creative entrepreneurs and early stage startups with strategy, financing and management to bring video games and related technologies from proof of concept to market.

For more information on Velan Studios, please visit www.velanstudios.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161121005979/en/

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