The Infocomm Media Development Authority (IMDA) announced two significant funding initiatives at the Asia TV Forum and Market (ATF) as part of the Singapore Media Festival. Senior Minister of State for Communications and Information, Tan Kiat How, revealed a S$30 million International Co-Production Fund to support the creation of globally appealing Singapore stories, alongside a S$25 million top-up to the Virtual Production Innovation Fund to enhance local virtual production capabilities.

IMDA’s International Co-Production Fund

The International Co-Production Fund, totaling S$30 million, aims to empower Singapore media companies to collaborate with international partners in creating content that blends local flavor with international appeal. This initiative encourages projects that resonate with both Singaporeans and global audiences. The fund will be open for submissions from Singapore media companies with a track record in long-form content production between December 11, 2023, and January 31, 2024.

Complementary Initiatives

This fund complements existing overseas co-production initiatives and is part of IMDA’s broader efforts, including the Media Talent Progression Programme and the Singapore On-Screen Fund, to spotlight Singapore as a content creation hub. Previous co-production endeavors, such as the Singapore-South Korea film Ajoomma, have achieved notable success.

Virtual Production Innovation Fund

IMDA’s Virtual Production Innovation Fund receives an additional S$25 million injection over the next three years to meet the rising demand for virtual productions. The funds will be utilized to enhance local virtual production talent through training programs, collaborations with overseas trainers, and the introduction of virtual production modules into media curriculums.

The Virtual Production Innovation Fund, initiated in December 2022, has already demonstrated success with over 20 projects and exposure for more than 300 media professionals. The fresh funds will further enable local media companies and talent to hone their capabilities with virtual production technology.

As IMDA strengthens support for emerging technologies, local virtual production studios such as Oceanus Media Global and Aux are investing in studio upgrades. Nanyang Polytechnic will also contribute to building local virtual production capabilities.

ATF Highlights

The Asia TV Forum and Market (ATF) this year will focus on international showcases and discussions on technological advancements in the media sector. The Virtual Production Afternoon at the Singapore Pavilion will feature panellists showcasing their latest virtual production works, providing insights into their experiences.