<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>May 12, 2009
INTERACTIVE DIGITAL MEDIA FUND
</TR><!-- headline one : start --><TR>MDA to add 10,000 jobs <!--10 min-->
</TR><!-- headline one : end --><TR>$500 million fund to spur interactive sector's growth to $10 billion by 2015 </TR><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Tan Weizhen
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Local firms at the Mobile World Congress. Singapore's digital media whizzes will be helped by a $500 million fund. -- PHOTO: MOBILE WORLD CONGRESS
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<!-- START OF : div id="storytext"-->SINGAPORE'S next generation of digital media whizzes are being grown with money from a $500 million fund that has gone into building digital classrooms, as well as promising commercial ventures by start-up companies and MNCs.
And now, funding will also go to research projects by companies in digital media, the Media Development Authority (MDA) said yesterday.
<TABLE width=200 align=left valign="top"><TBODY><TR><TD class=padr8><!-- Vodcast --><!-- Background Story --><STYLE type=text/css> #related .quote {background-color:#E7F7FF; padding:8px;margin:0px 0px 5px 0px;} #related .quote .headline {font-family: Verdana, Arial, Helvetica, sans-serif; font-size:10px;font-weight:bold; border-bottom:3px double #007BFF; color:#036; text-transform:uppercase; padding-bottom:5px;} #related .quote .text {font-size:11px;color:#036;padding:5px 0px;} </STYLE>Help for 120 start-ups, 58 projects
SO FAR, the $500 million managed by the Interactive Digital Media Programme Office has funded 120 start-ups, 58 institute of higher learning projects, 68 companies, six future schools, 10 incubators which look for industry partners, and three international research centres.
The Media Development Authority could not say how much of the $500 million has been used to date, although it is meant to last five years from 2006 to 2011.
</TD></TR></TBODY></TABLE>In the last two years, money from the Interactive Digital Media Programme Office (IDMPO) has helped 120 start-ups, and provided seed money for 68 other companies.
Funds have also gone to 64 schools and educational institutions to help them enhance teaching through digital media.
Among them was a project by the National Institute of Education to develop a multi-player game on mobile phones that would facilitate learning.
Started in 2006, the IDMPO aims to fuel the growth of interactive digital media and its research and development (R&D). To be disbursed over five years, it has more than six funding schemes now.
MDA revealed where the money had gone at yesterday's Computer Games, Multimedia & Allied Technology (CGAT) conference but would not say how much had been given.
It hopes to fuel the growth of the media sector from $4.7 billion in 2005 to $10 billion by 2015, and add 10,000 jobs.
'Singapore has a chance to create the next breakthrough in media,' said Mr Michael Yap, deputy CEO and programme director of IDMPO, at the event.
Interactive digital media can encompass the areas of gaming, next generation Web and mobile technology, to name a few. Read the full story in Tuesday's edition of The Straits Times
INTERACTIVE DIGITAL MEDIA FUND
</TR><!-- headline one : start --><TR>MDA to add 10,000 jobs <!--10 min-->
</TR><!-- headline one : end --><TR>$500 million fund to spur interactive sector's growth to $10 billion by 2015 </TR><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Tan Weizhen
</TD></TR><!-- show image if available --><TR vAlign=bottom><TD width=330>
</TD><TD width=10>
Local firms at the Mobile World Congress. Singapore's digital media whizzes will be helped by a $500 million fund. -- PHOTO: MOBILE WORLD CONGRESS
</TD></TR></TBODY></TABLE>
<!-- START OF : div id="storytext"-->SINGAPORE'S next generation of digital media whizzes are being grown with money from a $500 million fund that has gone into building digital classrooms, as well as promising commercial ventures by start-up companies and MNCs.
And now, funding will also go to research projects by companies in digital media, the Media Development Authority (MDA) said yesterday.
<TABLE width=200 align=left valign="top"><TBODY><TR><TD class=padr8><!-- Vodcast --><!-- Background Story --><STYLE type=text/css> #related .quote {background-color:#E7F7FF; padding:8px;margin:0px 0px 5px 0px;} #related .quote .headline {font-family: Verdana, Arial, Helvetica, sans-serif; font-size:10px;font-weight:bold; border-bottom:3px double #007BFF; color:#036; text-transform:uppercase; padding-bottom:5px;} #related .quote .text {font-size:11px;color:#036;padding:5px 0px;} </STYLE>Help for 120 start-ups, 58 projects
SO FAR, the $500 million managed by the Interactive Digital Media Programme Office has funded 120 start-ups, 58 institute of higher learning projects, 68 companies, six future schools, 10 incubators which look for industry partners, and three international research centres.
The Media Development Authority could not say how much of the $500 million has been used to date, although it is meant to last five years from 2006 to 2011.
</TD></TR></TBODY></TABLE>In the last two years, money from the Interactive Digital Media Programme Office (IDMPO) has helped 120 start-ups, and provided seed money for 68 other companies.
Funds have also gone to 64 schools and educational institutions to help them enhance teaching through digital media.
Among them was a project by the National Institute of Education to develop a multi-player game on mobile phones that would facilitate learning.
Started in 2006, the IDMPO aims to fuel the growth of interactive digital media and its research and development (R&D). To be disbursed over five years, it has more than six funding schemes now.
MDA revealed where the money had gone at yesterday's Computer Games, Multimedia & Allied Technology (CGAT) conference but would not say how much had been given.
It hopes to fuel the growth of the media sector from $4.7 billion in 2005 to $10 billion by 2015, and add 10,000 jobs.
'Singapore has a chance to create the next breakthrough in media,' said Mr Michael Yap, deputy CEO and programme director of IDMPO, at the event.
Interactive digital media can encompass the areas of gaming, next generation Web and mobile technology, to name a few. Read the full story in Tuesday's edition of The Straits Times
