Singapore injects $7.6 million into media
Posted by Leah McBride Mensching on January 13, 2009 at 8:22 PM
Singapore's Media Development Authority has given S$7.6 million in funding to five new media projects in an effort to support local media creating innovative new business models, services and applications for the global market, The Straits Times reported Monday.
The five projects were selected from 26 proposals submitted to the Call for New Media Applications and Services Projects competition, which closed in September 2008. They are expected to net $70 million in investments and create 300 new jobs in local media.
The five projects were selected from 26 proposals submitted to the Call for New Media Applications and Services Projects competition, which closed in September 2008. They are expected to net $70 million in investments and create 300 new jobs in local media.
MDA Deputy CEO Michael Yap said the project aims to put Singapore in a position to be a global leader in new media.
"These projects will in turn support some 200 companies to help build the New Media ecosystem. This funding initiative complements MDA's ongoing effort to support innovative content development and research and development in Interactive Digital Media," he said, according to The Straits Times article, posted by AsiaMedia.
"These projects will in turn support some 200 companies to help build the New Media ecosystem. This funding initiative complements MDA's ongoing effort to support innovative content development and research and development in Interactive Digital Media," he said, according to The Straits Times article, posted by AsiaMedia.
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