Thoughts inspiring. Inspiring thoughts
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Certain things in life eludes my understanding.
Looking at the recent press release from MDA.
Singapore Film Commission awards S$2.25 million to 9 directors under the New Feature Film Fund
In summary (and as reported in Channelnewsasia.com):
SINGAPORE: Nine budding directors have received S$250,000 each from the Singapore Film Commission under the New Feature Film Fund scheme.
They are Yee-Wei Chai, Yong Mun Chee, T T Dhavamanni, Ellery Ngiam, Alaric Tay, Mika G. Yamaji, Wee Li Lin, Boo Junfeng and Chen-Hsi Wong.
The nine writer-directors were picked from 39 applications.
Launched in June, the scheme aims to nurture first-time Singapore filmmakers by funding the production costs of their feature film.
The awardees will also be paired with experienced directors who will guide them through the production process.
….
And MDA have an IDM office that help startups in the interactive and digital media space. And have a 50K grant with the following details:
Under the Scheme, the grant covers up to a cap of S$50,000 qualifying cost of the project. Examples of majoy allowable costs are:
- Subsistence allowance of applicants (subject to a cap of S$600 per applicant per month)
- Third-party manpower costs including advisory costs
- Marketing expenses including overseas business travel
- Research expenses and
- Equipment and software
And the follow objective:
To support startups in their exploration of the technical merit or feasibility of technologies and ideas that have the potential to create business disruptions and build new industry subsectors.
Details here.
250K for production of a film and 50K for development of innovative technologies.
Again, certain things in life eludes my understanding.
ThinkingNectar talks about the interest of Chin Yong, a PHP/Python/Web developer residing in Singapore. Life, society, and codes should entails most of what goes between the ears of this coffee drinker.
What makes you think?
Priscilla
December 2nd, 2008 at 1:03 am
Hmm why does it elude your understanding?
Chin Yong
December 2nd, 2008 at 1:28 am
Priscilla: I do not understand why films are to be awarded 5 times more funding. Both a film and innovative technologies start as ideas only. And the idea of the film is valued at 250k while the technology at 50k. Are we saying that the nett benefit of a film to society is more than a technology startup?
Priscilla
December 2nd, 2008 at 1:30 am
Not too sure about films but for technology startup seed (just to explore ideas), I think 50k is quite enough.
Chin Yong
December 2nd, 2008 at 1:38 am
Priscilla: True. 50k should be sufficient for startup to bootstrap and get some traction. But giving 250k out for films while technology startup gets 50k? Does it show the priorities of the authority? Or is that there are more demand for startup funding than film funding that the amount awarded have to be lesser so that there is more to go around?
If the startup fund is just to explore ideas, then the authorities might want to explore the idea of a fund that goes the way of film funding, from idea to product.
Priscilla
December 2nd, 2008 at 1:58 am
I think this isn’t a matter of prioritizing. It’s just looking at what amount works at that stage. And for technology startups, it’s looking at seed amount, typically 50-100k.
Perhaps 250 is looking at the whole film production, and that’s fair enough.
As for the idea of a fund that goes all the way, I think the current process of investment funds that is…seed, series A B C and so on, works well.
And that is also following the global practice of tech startups investment.
Chin Yong
December 2nd, 2008 at 2:20 am
Priscilla: Yes, that is the global practice of tech startups investment with seed, series A B C and the whole deal. So is there a global practice for film funding?
So is 250K typical for whole film production? And if so, are the cast and directors limited to allowance or market rate compensation?