The Future of Video Games in the Live Event Industry

Of all the forms of entertainment media now a days, video games are definitely the biggest on the rise.  With games getting bigger and bigger budgets these “Triple A” titles are becoming more like interactive dramas.  With these games getting more media exposure, and larger marketing campaigns in addition to the changes in technology, there is no better time to capitalize on the rise of live video game events.

Being a soon to be to graduate of Full Sail University’s Entertainment Business Masters program has given me a wealth of ideas for the future.  The basis of my idea starts from a few a simple market trends I have noticed in recent years.  For starters, technology has improved so much in the past year that LCD TV prices have dropped significantly.  As an avid gamer, I was able to pick up a new 42” Vizio at an amazing price.  The video game consoles themselves are now only $300 dollars, which in some cases is half of what they use to be.  With broadband Internet pretty much circling the globe, the online social gaming empire is starting to gain some significant numbers.  It is fun to play games online and every console now has a headset to make online communication fun and simple, but gamers want to interact and talk smack in person at live video game tournaments.  I believe with the lower cost in technology these tournaments can be easier and more cost effective to put on.  Major League Gaming (MLG) is one of many such organizations to already be capitalizing on this.  MLG is huge of course, but with my live events background it gives me expertise on how to set up tournaments and events like these.  Gaming companies that are just starting out and need to get more marketing exposure for their game, especially if it is multiplayer, may interested in a live gaming event.  It is a great place to unite the gaming community while hyping up the release of new product or driving sales of an existing one.

Thanks to my education I can now see and understand market trends much better than I could before.  I see the video game world only getting more grand with larger, more posh social gaming events popping up all across the globe.  I hope to capitalize on the industry on the rise by merging my love of video games with how to put on a successful live event.  As technology improves we will see better games and more and more live events to bring the gamer empire together.

Some Alternative Funding Sources for Business Plans

There are websites out there to find sources for funding for business plans of all shapes and sizes.  Whether your business plan is for a hip new product, the hottest new intellectual property, or just opening up a restaurant, there are a bunch of websites out there that can help you secure the vital funding you need to turn your business plan into a reality.  I will highlight two of the many that are available.

The first is the First Nations Development Institute, a Native American organization, which is working to restore Native American control and gain new assets to ensure the long-term vitality of the Native American people.  They fund businesses that are located on their reservations or in rural Native communities.  They will fund businesses linked to the provision of a product of service for their communities.  They award grants through their Eagle Staff Fund (ESF), which launched in 1993 and has awarded 200 grants totaling 8.6 million dollars since 1994.  They offer seed, start up, and working capital grants.  If you can launch your business plan on a Native American reservation, or have a product or service that could benefit them, the First Nations Development Institute may be for you.  Check out their website for even more information on the programs and services they offer.

The second is the U.S. Economic Development Administration (EDA), which is a government organization whose mission is “to lead the federal economic development agenda by promoting competitiveness and preparing American regions for growth and success in the worldwide economy.”  The website has a lot of great information on federal funding opportunities including links to state and other local development agencies.  The EDA has investment priorities in collaborative regional innovation, public/private partnerships, national strategic opportunities, global competitiveness, environmental development, and economically distressed and underserved communities.  The EDA, in its simplest form, partners with communities to foster and create new jobs and local business.  If you think the EDA may be right for your business, then check out the grant process page for details on how to get the ball rolling.  This process is great because the EDA provides formal feedback on the grant’s technical and competitive merits and/or deficiencies within 15 business days.  This feedback can invaluable in improving and refining your business plan.

These are just two of the tons of alternative funding source websites out there.  The advantage is, you can gain some excellent funding but your business may not always qualify.  Some other alternative funding sources are CFED, OWEESTA, the Association for Enterprise Opportunity, the Opportunity Finance Network, the Coalition of Community Development Financial Institutions, the Community Development Venture Capital Alliance (CDVCA), the National Community Investment Fund, and the National Federation of Community Development Credit Unions to name a few more.  There is a lot of money out there waiting to be invested by investors.  Finding the right investor to fund your particular business plan is the tricky part.  If you can launch your business by yourself without investors, it is best because you maintain control of your business and keep all profits.  But if you do need to find an investor, it is safe to assume there is more money out there than good ideas.