MDA launches media funding plans

• MDA launches funding plans
• Aims to develop the media content sector
• Part of Media Fusion Plan 
  

Singapore - The Media Development Authority of Singapore (MDA) has launched two new funding initiatives to further develop the country's media content sector.

The International Film Fund will encourage projects to be shot in and out of Singapore with a contribution of up to US$3.4 million per project, covering 17 to 20 projects. Under the Stereoscopic 3D Development Fund, Singapore has committed to co-produce a slate of three 3D films, all of which will be in production by the end of March 2010 and are being offered for pre-sale at Cannes. 

The announcements are a part of the Singapore Media Fusion Plan (SMFP)  that aims to attract the world's creative community to partner with Singapore companies. with a view to develop Singapore as a trusted global capital for new Asia media.

Other initiatives, as announced by Christopher Chia, MDA's chief executive at the Cannes Film Market and Festival, includes Mediapolis @ one-north - a state-of-the-art studio complex which offers sound stages, digital production, post production, broadcast and distribution facilities.

The Singapore Government has earmarked US$156 million over five years towards this end. This is in addition to US$340 million already committed to interactive digital media research and development.