Joystick Labs, a program designed to provide indie start-ups with funding and network support in exchange for minority ownership of the company, is no longer funding new studios due to the harsh climate for indie games, managing director John Austin told The News & Observer.
According to Austin, the difficulty of getting digital games noticed in a market that is so saturated with them was more problematic than the group initially thought.
"It has become very difficult for an independent developer to get noticed," said Austin. "For every Angry Birds, there are literally tens of thousands of great companies not getting noticed."
Joystick Labs was created two years ago by a group that includes Red Storm Entertainment co-founder Juan Beito. The company funded seen game studios since its launch, three of which are still in operation. The highest profile game to result from its funding is Saturday Morning RPG from Mighty Rabbit Studios.
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