Guha (left) and Karthik Bala at their new company, Velan Studios, an experimental game developer.

 

The Balas now want to rekindle the startup magic for a new generation—and jumpstart Troy’s gaming industry in the process. Their new company, Velan Studios, is an experiential game developer that aims to blend augmented reality with artificial intelligence and other emerging platforms – providing users with next-generation virtual reality games and applications.

 

After parting ways with their first company in 2016, the brothers secured $7 million in financing for Velan Studios. They’re already attracting talent and investing in area startups through their venture capital firm, Velan Ventures. They estimate the new venture will add 41 new jobs and invest more than $3.5 million in the local economy.

 

A key factor in the decision to grow their new company was the START-UP NY program, which enables the business to operate tax-free for 10 years while meeting commitments to create net new jobs. Velan Ventures’ participation in START-UP NY also helps them share research interests – and talent – with a local academic partner, Hudson Valley Community College.

 

The brothers describe Troy as a “growing technological and creative hub with a thriving video game development and maker scene” and continue to be active members of the local game and educational community. They regularly sponsor hackathons, teach game development classes at nearby RPI and attend local International Game Developers Association events. They also work closely with the Digital Gaming Hub, a New York State initiative founded in 2016, to bring together and mentor talent from local universities, including RPI, to foster innovation and spur new ideas.

 

From their bright, new headquarters along the Hudson River, one thing’s increasingly clear: downtown Troy is becoming the “burgeoning home of developers,” that the brothers and so many others hoped it would be.