SFC Launches 2 New Funds for Film Industry

Under the $10-million Stereoscopic 3D Film Development Fund, Singapore companies looking to produce 3D content stand to receive up to 80 per cent of the incremental production budget or not more than $350,000 in investment for a feature film of any genre including documentaries.

The fund, set up in November 2008 by Singapore Film Commission (SFC), aims to boost the development of 3D film-making activities and build an industry of 3D practitioners in Singapore. The SFC and film production companies will co-share rights and revenues based on co-funding arrangements.

Already, SFC is partnering Brian Yuzna of Komodo Films to produce a slate of three films. The first, Amphibious, will be postproduced by Singapore's Infinite Frameworks.

Brett Leonard, who directed Virtuosity, will helm the second film as well as set up a state-of-the art stereoscopic 3D movie production facility in Singapore that will handle the entire creative process from production to post-production in 3D.

"With the success of feature films such as Bolt and Journey to the Centre of the Earth, 3D films are rapidly gaining audiences internationally and locally. I am enthusiastic that Singapore filmmakers will leverage on the fund to develop our very first 3D feature which would certainly herald a milestone in film-making for our country," said Mr Kenneth Tan, Chief Operating Officer of the Media Development Authority (MDA) and Director of SFC.

Source: AsiaOne