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Media Development Authority Announces R&D Initiatives to Spur Growth of Interactive Digital Media Sector

If you’re an entrepreneur in the interactive digital media (IDM) sector, take note.  The Media Development Authority of Singapore (MDA) this morning announced initiatives to support and develop IDM research and development in Singapore during the IDM Jamboree@iFuture at the Singapore Science Centre.

These initiatives were formulated to create an effective eco-system involving industry players, consumers, the education sector and the government. They are:

1. Driving demand for IDM sevices

2. Growing a network of local and international research organisations to support this sector

3. Encouraging generation of ideas from the public

4. Establishing Singapore as an international test bed for IDM infrastructure and applications

Nice civil service gobbledeegook, but what does this all this mean for the IDM entrepreneur?  Well, the real carrot in this deal is the $500 million that the National Research Foundation has dedicated over the next 5 years to develop this sector.  In one of the sharing sessions that followed the announcement, Mr. Michael Yap, Deputy CEO of MDA, encouraged entrepreneurs to be part of this new revolution. “Feel free to approach MDA directly if you have any good ideas,” he said, adding that his agency will help tie the entrepreneur up with the relevant people.

How much of that $500 million will go towards growing IDM technopreneurship still remains to be seen.

Daniel Goh is the founder and chief editor of Young | Upstarts, as well as an F&B entrepreneur. Daniel has a background in public relations, and is interested in issues in entrepreneurship, small business, marketing, public relations and the online space. He can be reached at daniel [at] youngupstarts [dot] com.

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