Dated: 12 January 2009
Selected projects expected to create 300 jobs and inject S$70 m to the local media sector
To propel local companies with innovative new media services, applications and business models into the global market, the Media Development Authority (MDA) has awarded five New Media projects with a total funding of S$7.6 million. These projects, ranging from development of games to media-rich learning, are expected to create 300 new jobs in the local media sector and achieve for Singapore S$70 million in Total Investment Committed .
The five projects were selected from 26 proposals submitted in response to the inaugural Call For New Media Applications and Services Projects which closed in September 2008. The Call was a timely effort to ride on the rising trend of media digitization. It aims to address the last-mile commercialization hurdles for companies that have developed innovative applications and services in new niche areas that best demonstrate the potential to go global and at the same time, attract digital media resources to congregate in Singapore and bring the country a step closer to being the digital node and a regional hub for digital media assets. The Call also attempts to drive innovation among companies and encourage them to go digital.
”The selected projects strengthen Singapore’s goal to be a leader in the New Media sector. Our support will help the companies scale up their international exposure significantly. These projects will in turn support some 200 companies to help build the New Media ecosystem. This funding initiative complements MDA’s ongoing effort to support innovative content development and research and development in Interactive Digital Media (IDM).” said Mr Michael Yap, Deputy CEO, MDA.
All projects were evaluated by a committee made up of representatives from MDA, Infocomm Development Authority and International Enterprise Singapore based on its relevance to New Media, its potential impact on the New Media ecosystem, the committed team’s ability to execute, cost realism, contributions to key performance indicators, and returns.
In response to MDA’s support, Mr Eric Berthier, CEO, Popular e-Learning Holdings said: “POPULAR’s New Media initiatives will serve as the leading regional portals for Singapore education service providers, media owners and other media service providers. Our partners will have a ready reach to markets in Singapore, Malaysia and Hong Kong through POPULAR's one million membership database. Through these trusted portals, education and media buyers will be able to access digital content show-casing the best of Singapore education and media companies. In light of the present economic climate, the funding from MDA will help POPULAR defray some of the business risks associated with these New Media initiatives and allow POPULAR to be more ambitious in our development and marketing regionally.”
Sharing the sentiment is Mr Vincent Ng, COO and Co-Founder of Fresbo. He said: “The funds granted by MDA will help us to rapidly scale up and take advantage of our current position, especially in view of the current financial situation.”
Separately on the effort to position Singapore as a digital node and a regional hub for digital media assets, Mr Tom Navasero, Executive Chairman, Glocal said: “Our move to Singapore will support the Singapore government’s vision of positioning the country as a digital media hub. The presence of Glocal in Singapore will provide the new media industry the opportunity to find a marketplace for their content to be accessible to over 20 million viewers worldwide in key media markets such as United States, Canada, Japan, Australia, France and the Middle East.”
Please refer to Annex A for the list of projects funded and Annex B for the quotes from all the funding recipients.
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Media Development Authority of Singapore (MDA)
Formed in 2003, the Media Development Authority of Singapore (MDA) plays a vital role in transforming Singapore into a Global Media City and positioning it at the forefront of the digital media age. MDA spearheads initiatives that promote developments in film, video, television, radio, publishing, music, games, animation, media services and Interactive Digital Media. At the same time, in ensuring clear and consistent regulatory policies and guidelines, MDA helps to foster a pro-business environment for industry players and increase media choices for consumers. For more information, visit www.mda.gov.sg and www.smf.sg