sLOCAL Interactive Digital Media (IDM) start-ups and companies will be getting a boost in their pockets from the Singapore government, thanks to the i.MATCH initiative, which is aimed at bridging funding gaps in the local IDM sector.

RAdm (NS) Lui Tuck Yew, Senior Minister of State for Education and Information, Communications and the Arts, announced the initiative at the i.JAM Networking Session. The initiative is meant to help raise the investment needed by IDM companies to further commercialise and develop their products and their companies.

This is done by putting selected companies through an intensive programme consisting of business planning and presentation classes, business plan improvement meetings, and personal coaching sessions.

These companies will then pitch their products to venture capitalists and other investors who might be interested in their products. On top of the private investments, the companies also qualify for R&D grants from IMDMPO or co-investment by SPRING SEEDS Capital of Spring Singapore.

So far, the initiative has signed up 40 potential investors, including big names like SPH, ST Electronics, Mediacorp Technologies, IDG Ventures Vietnam, and Stream Global.

This initiative is part of IDMPO’s ongoing effort to create an interlocking ecosystem between the four key groups in IDM R&D, which are institutes of higher learning, industry players, start-ups and individuals, and schools, to create innovation and capacity in the IDM industry.

Source: Business Times Online

Other i.MATCH related news

MDA launches iMATCH to bridge funding gap for IDM startups (Channel News Asia)
IDM start-ups to get boost from i.MATCH initiative (Business Times)
MATCH to boost local IDM companies’ search for funding (Berita Harian)
IDM start-ups to get boost from i.MATCH initiative (Business Times Online)
MDA help for digital media startups (The New Paper)
MDA sets digital fund, new niche TV (The Hollywood Reporter)
Singapore govt to support interactive digital media startups (IndiaTelevision.com)