To date, 500 RSEs (researchers, scientists and engineers) have been engaged. We have also attracted some of the best universities around Asia, Europe and US to jointly establish R&D centres with our IHLs Thus far, we have established – or are in the process of establishing – 7 joint centres.

10 specialized incubators have committed to nurture over 400 start-ups and develop 2,000 entrepreneurial talents from across the country. Some 400 of our young technoprenuers, including many overseas students and permanent residents, are taking their ideas to market.

Further, we have mobilized over 60 VCs, angels and incubators to support these startups once they are ready to seek more funding. In parallel, we have been able to draw on the support of key leading global players such as Apple, Microsoft and HP to extend their technological and to-market outreach to help our startups access the global market. A number of our startups are already serving millions users in more than 200 countries, and becoming leading players in key IDM sub-sectors.

Further ahead, we want to imbue the ecosystem with a spirit of innovation and a culture of R&D. We need the industry to embrace R&D as its engine for growth, private-sector activism to help groom and grow our startups for global reach, and inspiring result outcomes to secure a stake in the next generation media.

A look at our Milestones in 2008

January

• The International Expert Panel (IEP) met on 14-16 Jan 08 to evaluate 27 proposals submitted for the second call for IDM in Education. The results were announced on 24 Mar 08. MOE awarded $4.13M to 4 research proposals on education.

February

• The IDMPO has developed a concept to tie in existing areas of IDM R&D and provide focus for the sector. Referring to this as “Co-Space”, we expect this to be the cornerstone of the next generation media.

March

• MOE launched the third call on 24 Mar 08, focusing on the use of IDM for participatory learning to bridge formal and informal learning environments as well as for alternative modes of assessment.

April

• Nanyang Technological University launched the Institute for Media Innovation (IMI), which would bring together 100 researchers from a range of disciplines, including art and design, engineering and education, focusing on the mega-trends in IDM research today such as next-generation multimedia search, advanced “intelligence” in media, as well as innovative digital cinema and television.

June

• MediaCorp Technologies to set up their Interactive Digital Lab. The IDM Lab, housed in Caldecott Broadcast Centre, will work with renowned research institutions e.g. A*Star, NUS, NTU in R&D areas such as scalable Video Coding, Video indexing, search and retrieval system, Interactive Mobile, P2P streaming technology and Language Translation.Read more.

July

• Local IDM startups and companies get a boost in their pockets thanks to the i.MATCH initiative, which aimed at bridging funding gaps in local IDM sector. The initiative meant to help raise the investment needed by IDM companies to further commercialise and develop their products and their companies. Read more.
• The Keio University, a top institute in Japan, sets up a research centre here with the National University of Singapore. Some 50 researchers from Japan and Singapore will be involved in the Centre. Read more.
• Singapore’s Interactive Digital Media sector was given a S$70 million boost. The money will be set aside to attract more international research centres to partner local institutes of higher learning and set up research centres in Singapore.

August

• Working with IDMPO, Hewlett-Packard is now calling Singapore IDM companies to submit their mediascape proposals using HP’s mScape software. Read more.

September

• 13 projects from local universities will be given a total of $18 million for IDM R&D in Co-Space technologies. This marks the second round of grants handed out to promote research in IDM. Read more.

October

• 15 firms that were selected from the inaugural Co-Space Industry Call for Proposals, received $12m from the IDMPO for digital media projects. The funding is expected to achieve for Singapore an increase of some $37 million in total business spending, 240 new jobs, and create platforms and services that will support some 1,300 third-party applications. Read more.
• The Singapore Infocomm Technology Federation (SiTF), together with the IDM Research and Development Programme Office (IDMPO), will offer up to S$10 million worth of funding for a new mentorship programme. Read more.
• Team GAMBIT won Microsoft’s global Xbox game development challenge, beating 7800 participants from 100 countries. Read more.

November

• Our attempt to become a port-of-call for digital media companies is starting to materialise with more gaming studios and animation companies docking their regional operations in the city-state. Read more.
• Singapore’s fledgling online video game industry has attracted European animation giant Rainbow, which is investing $25 million to create a new game here. Read more.

December

• Singapore can become a world-class media hotbed, say participants of the first Asian edition of SIGGRAPH, one of the world’s most renowned trade shows on computer graphics and interactive techniques. Industry heavyweights Lucasfilm, Pixar, Autodesk and others at the show are bullish about Singapore’s investments in this sector. Read more.
• Singapore is trying to position itself as a media powerhouse. The republic announced a billion-dollar media hub, the Mediapolis, which will be completed by 2020.
• GAME developers here will now be able to create games using free software and publish them on an established online marketplace. They also get a chance to apply for a $50,000 grant to develop these games. Microsoft Singapore said the Republic’s game developers will be the first in Asia, ahead of more mature markets like Japan and Korea, to publish games online on its Community Games Channel. Read more.

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)

iMATCH helps raise investment needed to give IDM companies the extra push to further commercialise their products and grow their companies. This is done by first exposing selected companies to a rigorous programme consisting of an intensive business plan and investor presentation master class, one-on-one business plan improvement meetings and personal coaching sessions. The selected companies will then be given the chance to pitch their projects to venture capitalists (VC) and other potential investors. On top of private investment, these companies will also quality for R&D grants from IDMPO or co-investment in their projects by SPRING SEEDS Capital of SPRING Singapore.

Designed to uncover the best of local IDM companies and to introduce them to local VCs and other equity investors, the initiative has brought on board 40 potential investors. They include major corporate investors such as Singapore Press Holdings (SPH), ST Electronics and Mediacorp Technologies as well as venture capitalists headquartered in Asia, Europe and North America such as IDG Ventures Vietnam, Stream Global and Vickers Financial Group. Two key investment communities in Singapore – the Business Angels Network South East Asia (BANSEA) and Singapore Venture Capital & Private Equity Association (SCVA) are also behind this initiative.

Mr Michael Yap, Executive Director, IDMPO said: “In 2007, we supported many innovative IDM start-ups and companies, some are coming of age and seeking investment for further growth. i.MATCH builds upon the work done by stimulating entry of more private investment and capital into the sector and helps to facilitate the investment process.”.

Mr Png Cheong Boon, Chairman, SPRING SEEDS Capital said “As more IDM start-ups seek to grow and establish themselves in this arena, access to capital is critical. We hope to support them through our co-investment and connections.”

One of the corporate investors of this initiative, Ms Janice Wu, Senior Vice President (Corporate Development), Singapore Press Holdings (SPH) said:” We applaud IDMPO’s initiative to link innovators to industry players. SPH is excited to be part of this initiative to grow and develop the IDM industry in Singapore. SPH has launched many interactive digital media products and monitors IDM developments very closely. Ideas that would allow us to meet the changing needs of our existing customers and reach new audiences would be most welcome.”

Agreeing with the approach of this initiative is also Mr Reza Behnam, IDG Ventures Vietnam. Mr Behnam said: “This is a great initiative to support and encourage early to mid stage start-ups. It gives the entrepreneurs the opportunity to showcase their companies to many investors in one setting. This initiative reduces the time, resources, and stress-level associated with fund-raising and allows the entrepreneurs to get feedback from the investment community in an expedited and efficient manner.”

To further create a self-sustaining ecosystem in the IDM sector, IDMPO is working to attract the support of global enterprises to buttress the development of new services and to promote them widely. To date, Apple, Hewlett Packard and Friendster have agreed to support our local IDM companies by offering their worldwide distribution platforms. In addition, they will also commit resources in the areas of development and marketing for new projects being developed on their platforms. The support lending from world class enterprises is a boost to our IDM sector.

Ms Tan Yen Yen, Vice President & Managing Director, HP Singapore, said: “HP is excited to partner IDMPO in this initiative to nurture the local IDM sector. Not only will we be able to build up a strong network of IDM partners here, we will also be able to explore commercialising some of the mScape content developed.” HP will offer its mScape software to local IDM companies to build mediascapes using Web, mobile and Flash mobile content and applications. Mediascapes are mobile, location-based experiences that incorporate digital media with the sights, sounds and textures of the world around the user.

The i.MATCH initiative is IDMPO’s ongoing effort to interlock the four key groups of stakeholders in IDM R&D namely Institutes of Higher Learning, industry players, start-ups and individuals and schools, to create innovation and capacity in IDM.

Companies interested to be part of i.MATCH can contact Chua_Wee_Nian@mda.gov.sg. More information can be found on www.idm.sg.

For media enquiries, please contact:

Jasmine Wong
Assistant Manager, Communications
Media Development Authority of Singapore
Tel: +65 6837 9364
Fax: +65 6336 4142
Email: jasmine_wong@mda.gov.sg

Media Development Authority of Singapore (MDA)
The Media Development Authority of Singapore (MDA) was formed on 1 January 2003 to champion Media 21, a blueprint to transform Singapore into a global media city. Media 21 seeks to create a vibrant media environment by establishing Singapore as a media exchange, exporting Made-by-Singapore content, internationalising local media companies, nurturing local media talent and developing digital media. More information on MDA can be found on www.mda.gov.sg

Interactive & Digital Media (IDM) Sector
The development of the IDM sector requires the collaboration of a diverse range of public sector agencies, educational institutions, industry players and other stakeholders. To achieve this, the National Research Foundation has allocated $500 million over the next five years from 2006 to fund the development of a strategic IDM research programme and the set-up of a multi-agency IDM R&D Programme Office within the Media Development Authority of Singapore to oversee R&D initiatives in the IDM space. This multi-agency team is accountable to the IDM Executive Committee and coordinates a cross-disciplinary effort to deepen Singapore’s research capacity in IDM.

SPRING Singapore
SPRING Singapore is the enterprise development agency for growing innovative companies and fostering a competitive SME sector. We work with partners to help enterprises in financing, capabilities and management development, technology and innovation, and access to markets. As the national standards and accreditation body, SPRING also develops and promotes internationally-recognised standards and quality assurance to enhance competitiveness and facilitate trade.

Please visit www.spring.gov.sg for more information and news about SPRING Singapore.