Making money off the web

Four IDMPO funded companies were recently featured in Digital Life for their unique and viable business models, and who have been gaining traction (in terms of profit and user outreach) through social networking platforms such as Facebook, Friendster, Second Life and so on. The four companies profiled were iHipo (international internships), Fresbo (multi-player game), First Meta (Second Life commerce) and Tyler Projects (multi-player game).
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Five New Media Projects set to draw $70m Investments and 300 Jobs
Singapore’s Media Development Authority (MDA) has awarded five new media projects, worth S$7.6 million (US$5.1 million), to help propel local companies with new media services and businesses into the global market.

The five projects, selected from 26 proposals first called for in September 2008, range from development of games to media-rich learning, and is also expected to create 300 new jobs in the local media sector while helping generate some S$70 million in investment for the local 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,” said Michael Yap (pictured), deputy CEO of the MDA.

Eric Berthier, CEO of Popular e-Learning Holdings, added: “Our initiatives will serve as the leading regional portals for Singapore’s 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.”
“In light of the present economic climate, the funding from MDA will help 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,” he added.

Tom Navasero, executive chairman of Glocal, said: “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.”

Qrodo Ranked Top 5 at Euro Venture Summit

Qrodo (68technologies), one of IDMPO’s funded company, was ranked top 5 in the Internet technology category, at the Euro Venture Summit. The European Venture Summit offers entrepreneurs from Biotech & Industrial Biotech, ICT and New Energies the opportunity to grow their businesses across borders by facilitating contacts to an experienced and international network of venture capital and corporate investors, strategic partners and expert advisers.

Out of 100 global companies evaluated by an international advisory Board of industry experts and a group of leading international venture capitalists, investors, international business executives & prestigious experts in their field. Qrodo was ranked top 5 and faired well over average on all aspects reviewed, especially business potential.

S’pore online advertising grew 33.7% in 2008

Singapore’s online advertising industry is seeing a growing number of large brand advertisers coming in, resulting in the market growing by 33.7 per cent to US$190 million in 2008.
Research by Frost & Sullivan shows that the republic’s online advertising market, which was worth US$142.1 million in 2007 will grow at CAGR (compound annual growth rate) of 19.5 per cent till 2013 to reach US$413.5 million.

The Internet has become a mainstream source for the supply and search of ‘infotainment’ content; its biggest enthusiast – the youths. Advertisers and media agencies alike are cashing in on this.
In Singapore, paid search advertising accounted for 44 per cent (US$62.5 million) of online advertising revenues in 2007.

This segment is expected to continue growing at a CAGR of 22.1 per cent between 2008 and 2013.
Display advertising was the second biggest segment accounting for 25 per cent (US$35.5 million) of revenues, with banner advertisement and e-mail marketing being the two most popular forms of display ads.

Online classifieds accounted for 19 per cent (US$27 million) of the total revenues in 2007.

2009 National Science & Technology Awards Call for Nomination Now Open!

The National Science and Technology Awards Committee invites you to nominate deserving scientists and engineers for the prestigious National Science and Technology Award (NSTA).
The Awards are the highest honours Singapore confers on individuals and teams who have made outstanding contributions to science and technology in Singapore. Since the Awards’ inception in 1987, 132 individuals and teams have been conferred the prestigious awards.
The nominations are open from now until 3 March 2009. Nominees will have until 8 March 2009 to register and submit their project details. The Awards Presentation Ceremony will be held in September 2009.

More information is at www.a-star.edu.sg/nsta