IMDA rolls out $5m virtual production innovation fund for the media industry
The agency will undertake a two-prong approach to building capabilities in virtual production.
The Infocomm Media Development Authority (IMDA) has rolled out a $5m fund to help the local media industry develop the capacity needed to harness virtual production technology.
The Virtual Production Innovation Fund will ensure that the local media industry remains competitive as the international partner of choice to create premium IP, said IMDA.
To achieve this goal, IMDA will undertake a two-prong approach to building capabilities in virtual production: developing talent skilled in virtual production and investing in production and capability development for Singapore enterprises and talent.
In the first prong, IMDA will train media professionals to use virtual production technology through the help of the National Film and Television School (NFTS) in the United Kingdom.
“Fifteen Singapore media lecturers, trainers and industry professionals will receive hands-on training at NFTS’s virtual production facilities as well as attend lectures conducted virtually from December 2022 to April 2023,” IMDA said.
A series of industry-led masterclasses and workshops, conducted by international virtual production experts, will also be rolled out over the next twelve months.
For the second prong, IMDA will support local companies to experiment with virtual production to realise their creative vision for short-form content, such as music videos, short films, and brand commercials, amongst others.
“From now until 15 February 2023, companies can submit their proposed content concepts at go.gov.sg/vpinnovationcall. Proposals will be evaluated based on their creative appeal and ability to best use virtual production technology to bring their project’s creative vision to fruition. IMDA will fund up to 50 per cent of the project’s cost for selected proposals,” IMDA announced.
“By supporting these projects, the local industry will deepen their understanding of how virtual production can help them lift their creativity to the next level and produce even more interesting content,” the agency added.
Lastly, IMDA will also collaborate with Epic Games, the creator of the advanced real-time 3D creation tool, Unreal Engine, which powers games like Fortnite, to run an industry challenge.
“Commencing in the first quarter of 2023, the challenge will encourage companies to experiment with and use Unreal Engine for virtual production. Teams with shortlisted projects will receive direct mentorship and training from Epic, while also receiving prize money from IMDA to support content production,” IMDA added.