In the News: Interactive digital media sector gets funding for 4 interlinked activities

S Ramesh, Channel News Asia, 10 January 2007. Some excerpts from the article.

SINGAPORE: Singapore's interactive digital media industry has been given a shot in the arm with the announcement that the sector's R&D Programme Office will fund four interlinked initiatives.

The initiatives were announced by Second Minister for Information, Communications and the Arts, Dr Vivian Balakrishnan.

He said the initiatives aim to create a high-growth and self-sustaining eco-system which will propel Singapore into the forefront of research and development in interactive digital media.

The interactive digital media industry had been identified as a key growth sector for Singapore's economy in the years ahead by the high-powered Research, Innovation and Enterprise Council during its inaugural meeting last year, which was chaired by Prime Minister Lee Hsien Loong.

IDM at NUS logo, part of the digital media network in Singapore.

Giving details of the initiatives, Dr Balakrishnan said that firstly, the government will support intensive R&D at institutes of higher learning and research institutes and bring the best global interactive digital media R&D institutions to Singapore.

Secondly, the government will incentivise companies to push the boundaries of the industry's R&D through investment in infrastructure and innovative services...

Thirdly, Singapore aims to put itself at the forefront of R&D in interactive and digital media by establishing itself as a preferred port-of-call for partners in innovation-test bedding.

Fourthly, Singapore aims to encourage significant investments by companies in the media industry to anchor demand for interactive digital media.

Dr Balakrishnan noted that the interactive and digital media sector is large, with many sub-sectors and different stakeholders.

So far more than 30 stakeholders and partners from the sector have indicated their support and commitment to the R&D initiative. - CNA/ir

Also, see Singapore on its way to achieve Intelligent Nation vision by 2015.