At least 33 interactive digital media research projects have been given $14 million in funding in the past year in Singapore, The Straits Times reported.

The funding is part of $500 million the government put aside last year to place Singapore in a top position to grow into a hub for interactive digital media (IDM).

“The culture of (research and development) is shaping up, and Singapore is on track to becoming the premier location for idea innovation in IDM,” Michael Yap, deputy chief executive of the Media Development Authority and executive director of the IDM research and development programme office, told the Times.

Singapore's latest research project to be funded is called Personal e-Motion, a multimedia spin-off from the National University of Singapore, the Times reported. The project is working on an online publishing system for multimedia content, which could open a new market for e-books, Low Chin Chau, the programme's director, told the Times.

The project's product, KooBits, comes in a CD-ROM, and is currently being used by 14 primary schools in Singapore.

By 2015, digital media is expected to provide 10,000 new jobs and contribute $10 billion to the economy.