SMU, NYP and NAFA establish joint incubation programme for interactive digital media sector
SMU, NYP and NAFA establish joint incubation programme for interactive digital media sector
Young creators of Interactive Digital Media ideas can tap into S$1.5 million funding in first-ever collaboration between three tertiary institutions to grow the IDM sector
Singapore, 11 October 2007 (Thursday) – The Singapore Management University (SMU), Nanyang Polytechnic (NYP) and Nanyang Academy of Fine Arts (NAFA) have established a new Joint Incubation Programme to promote young entrepreneurship in the Interactive Digital Media (IDM) sector. The IDM Joint Incubation Programme provides incubation space, mentorship and financial support to promising student start-ups with projects that demonstrate strong business potential. Residing on the Microfunding Scheme launched in May 2007 by the multi-agency Interactive and Digital Media (IDM) Research and Development (R&D) Programme Office of the Media Development Authority, the IDM Joint Incubation Programme will provide a total of S$1.5 million to fund at least 30 start-up projects over three years.
This marks the first time in Singapore where three tertiary institutions are joining hands and contributing their individual niche competency and expertise to groom student entrepreneurs who have business ideas that can potentially succeed in the high-growth IDM space. There are many valuable synergies in the collaboration between SMU, NYP and NAFA:
- SMU will be extending its four-year-old Business Innovations Generator – a university incubation laboratory and seed funding initiative – to the IDM Joint Incubation Programme, providing incubation space on its city campus for the student start-ups. The university will also contribute its strengths in management, finance, marketing and information systems to the business development aspect of the student start-ups.
- NYP, an established leader and pioneer in IDM training and research, is a strategic partner for its creativity and expertise in digital media design and digital entertainment technology. Through its School of Interactive & Digital Media (SIDM), NYP will provide its strengths in animation, games, visual effects, interactive media and motion graphics to support the thriving and growing IDM industry in Singapore and beyond.
- NAFA will contribute to the collaboration its design competencies and interactive design methodologies, the foundation on which artists and designers are trained in integrating the aesthetic and the practical with the objective of enabling technology to enrich lives.
To apply for funding under the Joint Incubation Programme, applicants are encouraged to form composite teams comprising members from SMU, NYP and NAFA to optimize the diverse competencies of the three institutions. Their business proposals will be evaluated and assessed by a management committee comprising senior officials from all three institutions and a panel of industry experts. The programme will support both product and service oriented business proposals to cover the wide range of innovations within the IDM sector. Project submissions will be judged on the following three criteria:
(a) Quality of innovation
? Uniqueness
? Significant regional and international market potential
? Sustainability and competitive advantage
(b) Passion and commitment
? Team cohesion and vision
? Team competencies
? Leadership
? Time commitment
(c) Market size
? Local, regional or global market
Apart from enjoying free incubation space on the SMU city campus, the student entrepreneurs will also benefit from guidance and consultation by a pool of business coachers and industry advisers who have volunteered their time and resources to participate in this programme. Quarterly networking sessions will be organized to bring together prospective student entrepreneurs from SMU, NYP and NAFA as a platform for them to explore opportunities in entering into business partnerships.
Mr Michael Yap, Executive Director of the IDM R&D Programme Office at MDA, said: “We are excited at the coming together of SMU, NYP and NAFA in this collaboration as this reflects the true inter-disciplinary nature of IDM. We look forward to exciting innovations coming from this joint incubation programme.”
Professor Tan Chin Tiong, Deputy President and Provost of SMU said: “Interactive Digital Media is an important sector set for exponential growth, being one of the key drivers which will position Singapore as a media hub. SMU is happy to play a part in identifying promising young talents for the IDM industry by providing incubation space for their start-ups and lending our expertise in financing advisory and business consulting.”
Mr Edward Ho, NYP's Deputy Principal (Development) said: “NYP is glad to join hands with SMU and NAFA in this programme to provide an effective avenue for students to transform their budding ideas into reality. With the pervasiveness of IDM, students will be able to integrate IDM into their businesses, value-adding it with more interactive and experiential elements. This programme will attract not only students in IDM, but also those from other disciplines in NYP such as engineering, business, health sciences, chemical and life sciences, which have high potential for integrating IDM into their businesses. We encourage more students and alumni to explore this programme and leverage the ready resources available to them through this partnership.”
Dr Tang Seung Mun, Vice President (Academic) of NAFA, said: “The boundary between applied arts and technology has become less distinct nowadays. Generally, the success of a product or service being offered to the customers is dependent on three factors – commercial viability, aesthetic appeal and technical sophistication. This is where NAFA, SMU and NYP can join hands to create such a synergy. It is indeed a privilege for us to partner these two institutions under the Joint Incubation Programme with MDA's support to propel the growth of Singapore's burgeoning IDM sector through developing the entrepreneurial skills of our students.”
About the MDA Microfunding Scheme
The Interactive and Digital Media (IDM) Research and Development (R&D) Programme Office under the Media Development Authority of Singapore (MDA) seeks to encourage a R&D culture in the IDM sector with a new grant. Young start-ups or individuals with exciting R&D ideas can now receive up to S$50,000 through the Microfunding Scheme to seed their ideas and get a chance to be entrepreneurs in the high-growth IDM space. A budget of S$40 million has been set aside for this initiative, which is part of the S$500 million budget allocated by the National Research Foundation in 2006 to catalyse the growth of the IDM sector in the next five years. The Microfunding Scheme is a key component of the i.JAM (IDM Jump-start and Mentor) initiative, championed by the multi-agency IDM R&D Programme Office within MDA, which seeks to support individuals and start-ups with breakthrough ideas that can be developed into innovative products and services.
About Nanyang Polytechnic
Nanyang Polytechnic is a modern tertiary institution that offers quality education in engineering, design, IT, interactive & digital media, business management, health sciences and chemical & life sciences. With the mission to prepare its graduates for life and work, NYP constantly collaborates with the industry in cutting-edge technology projects, so as to provide relevance and a firm foundation for its students. For more information, visit: www.nyp.edu.sg.
The School of Interactive & Digital Media (SIDM) supports Singapore's vision to be an Interactive & Digital Media (IDM) hub. It offers industry-relevant courses in animation, games, interactive media and motion graphics to unleash the next generation of digital artists, animators, game programmers, game designers, visual effects professionals and motion graphic designers. The school has three full-time Diploma courses: in Digital Media Design, Digital Entertainment Technology and in Motion Graphics & Broadcast Design. It also offers the six-month Specialist Diploma in Games Development for working adults.
About Nanyang Academy of Fine Arts
The Nanyang Academy of Fine Arts (NAFA) is widely recognised as Singapore's foremost tertiary institution for artistic studies. It has produced a long line of Singapore's most accomplished artists and designers since its inception in 1938.
NAFA currently delivers 16 Master's and BA (Hons) / BA Degree programmes in collaboration with five prestigious universities from the United Kingdom, USA and China. In addition, it offers 14 Diploma courses in the visual arts, performing arts and fashion studies to more than 2,200 full-time students of diverse nationalities and ethnic backgrounds. Taught by a globally-experienced faculty from eight departments – 3D Design; Arts Management & Education; Design & Media; Fine Art; Fashion Studies; Dance; Music and Theatre, NAFA's mix of high quality courses and innovative curriculum reflect the breadth of opportunities in Singapore's burgeoning creative industry for talented individuals from Singapore as well as the region.
NAFA's School of Young Talents (SYT) offers Certificate and on-going courses in Junior Art, Junior Music, Junior Dance and Junior Drama for children and young people between 4 and 17 years of age.
NAFA's purpose-built campus, strategically located in the vibrant Arts & Culture belt of the city, boasts modern facilities; cutting-edge technology and a conducive environment which promise an enriching learning experience for all who pursue creative excellence. For more details, please visit www.nafa.edu.sg.