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SINGAPORE, Aug 3, 2010 - (ACN Newswire) - Chinese and Singapore digital media firms and industry associations inked a slate of 18 business deals and Memoranda of Understanding (MoUs), deepening media ties between the two countries.
Among the deals is a S$100 million (RMB 480 million) cross border venture capital fund, the first China-Singapore co-developed game, and a 3D virtual learning community for Chinese language teaching and learning.
These announcements were made today at the China-Singapore Media Industry Exchange, by the Media Development Authority (MDA) of Singapore. The event was held in conjunction with the Singapore Media Showcase, a public exhibition featuring Singapore media content and technologies running from 1 to 21 August at the Singapore Pavilion at Shanghai World Expo. Over 72 sqm, visitors will be able to experience a three-dimensional downtown Singapore through Singapore's very first stereoscopic 3D racing game; engage in next generation learning through Mixed Reality; and enjoy Singapore film, television and animation presented through stereoscopic 3D and High Definition (HD) technology.
"Singapore's media first established its presence in China in the 1980s when our drama serials began showing in China and became popular hits. In recent years, we have revitalised our media ties with China, including the carriage of CNA International in China and since 2007 a series of government-to-government MoUs. That set the stage for more media collaborations, including the forthcoming China-Singapore Drama Golden Melodies Concert and a slate of TV co-productions announced last month. Bilateral media relations reached new heights two weeks ago with the signing of the China-Singapore Film Coproduction Agreement, paving the way for more partnerships in content creation between the two countries," said Dr Tan Chin Nam, Chairman, MDA.
"Aside from film, music and TV, Chinese and Singapore media companies are forging ties in the burgeoning digital media space. Hence, against the backdrop of the Shanghai World Expo, we are organising the Singapore Media Showcase and China-Singapore Media Industry Exchange to raise awareness of Singapore's digital media capability among the Chinese public and industry players. As China's media industry makes tremendous strides and Singapore ramps up the development of its media sector, we believe there are many opportunities for companies from both countries to gain new ground through mutually beneficially partnerships, such as the line-up of digital media partnerships announced today.
Singapore looks forward to partnering with China to address business opportunities in each other's markets and the international arena, embarking on a new S curve of growth for media business based on win-win collaboration" added Dr Tan.
Gobi Singapore-China Media Ventures Fund
Adding a boost to Singapore's media financing ecosystem was the launch of the Gobi Singapore-China Media Ventures Fund, a S$100 million (RMB 480 million) cross-border venture capital fund targeting early- to growth-stage companies in digital media and technology sectors. The Fund aims to promote bilateral industry co-operation between China and Singapore by providing funding support for Singapore companies entering the Chinese market, as well as Chinese companies seeking to internationalise through Singapore. It features a dual currency structure (50% in Singapore dollars and 50% in Renminbi), providing a unique cross-border financing solution for both Chinese and Singapore startups.
The Fund will be managed in Singapore by Gobi Partners, a well-established China-based venture firm with approximately US$250 million in assets under management.
Co-developing games for China and beyond
Singapore games are taking on the world, and developers are partnering Chinese companies in their quest. Homegrown award-winning game company Mikoishi is partnering China Information Broadcast Network (CIBN) to co-develop and launch its second Massively Multiplayer Online Role-Playing Game. This marks the first China-Singapore co-development game project. CIBN is a professional new media company with diversified business, specialising in the operations of digital television channels, program production, Internet videos, mobile phone television and online games. It currently has an established network of more than 300 marketing and distribution points around China.
Another Singapore company, IFE Services Asia Pacific, a global provider of entertainment solutions to the travel industry, will develop the technology to bring the suite of game products from TipCat Interactive, a Shanghai-based game development studio, to the in-flight entertainment market. Both parties will also co-develop a new game for emerging and embedded platforms, such as Internet Protocol Television.
Likewise, Singapore's game associations Singapore Cybersports and Online Gaming Association (SCOGA) and the Games Exchange Alliance (GXA) established connections in China. SCOGA, a not-for-profit gamers association comprising veteran gamers, will work with CIBN to promote games under the Singapore Game Box to Chinese gamers through CIBN's platforms. Managed by SCOGA, the Singapore Game Box is an initiative led by MDA to avail newly developed games and game prototypes produced by Singapore companies for testing by gamers for the purposes of collecting feedback from and raising awareness among the gaming public. By bringing the Singapore Game Box to China, Chinese gamers will get to sample a rich variety of Singapore games, while Singapore games will benefit from the increased visibility.
Separately, GXA, an industry network of over 50 Singapore game companies, forged ties with its counterpart, the Shanghai Information Services Association (SISA). Under the cooperation MoU, SISA members will lead delegations to Singapore and represent China to join the 10-member Asia Pacific Games Association currently chaired by GXA. The partnership is expected to create new business opportunities for both Singapore and Chinese game companies seeking to expand beyond their respective home bases.
IDM companies going places
Singapore's interactive digital media (IDM) start-ups have also gained traction in China, chalking up sales of Made-in-Singapore intellectual properties and serving up acquisition deals, joint research and co-development projects with Chinese partners.
One such example was augmented reality technology company MXR Corporation, which has sealed deals with three Chinese companies. The first partner was Changzhou Dinosaur Land Culture & Creative Co. Ltd., which commissioned MXR to create interactive mixed reality versions of its popular animation character "Baby Dinosaur" and other attractions for its Universal Dinosaur Town in Changzhou. In addition, Shanghai JieCui Digital is partnering MXR to jointly develop new products for the China and Singapore markets. Capping off the successes, MXR received an investment from Suzhou H&H Venture Capital that will help fuel its expansion plans in China. MXR's budding presence in China has helped it secure alliances with Singapore Science Centre and Singapore Flyer to jointly explore collaborations with Chinese partners.
Further leveraging Singapore's traditional strength in the education sector, Singapore IDM companies Veev Interactive and ServTouch-WyWy are respectively partnering state-owned Chinese Education Television (CETV) and Chinese e-learning company Wise Information in the fast-growing sector of next-generation learning. Among other areas, the Veev-CETV collaboration covers the co-development and marketing of the Chinese Village, a 3D virtual learning community for Chinese language teaching and learning; and co-building the largest Interactive TV Network for Campus (iTNC) to allow schools to share their resources.
ServTouch-WyWy and Wise Information will represent each other's products in their home base, which will include educational content aiding the learning of the Chinese language.
In addition, ServTouch-WyWy is working with Shanghai Engineering Research Centre for Broadband Technologies & Application (B-Star) and Shanghai Interactive Television (SiTV) to cross-share informative media content for high-speed networks in both countries. This will pave the way for more community-based content creation and sharing that will enrich cultural exchanges.
Time Voyager, a past recipient of the iJAM grant from the IDM Program Office (IDMPO), announced a substantial acquisition. It has acquired Azure Studio from Hangzhou in a bid to expand its operations. Formed in July 2007, Time Voyager is currently working on a largescale 3D Massively Multiplayer Online Role-Playing Game targeting to be launched in China at the end of this year.
Local broadcast technology company SyQic Capital's capital is also being adopted by Huawei, China's leading telecoms solutions provider, for the commercialisation of the latter's set top box. The partnership with Huawei is a validation of the capability of SyQic Capital, which had received support from MDA to grow its business in the region.
Contact:
Ms Michelle LIM
Asst Manager, Communications
Media Development Authority
Tel: +65 81833947
Email: michelle_lim@mda.gov.sg
Ms Tina LI
Edelman Shanghai
Tel: (021) 6198 7551
Mobile: 1391-797-4222
Email: tina.li@edelman.com
Topic: Contract Awarded
Source: Media Development Authority of Singapore (MDA)
Sectors: Film & Video, Media & Marketing, IT Individual, Broadcast, Film & Sat
http://www.acnnewswire.com
From the Asia Corporate News Network
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