Green Light: Singapore Film Fund to Push Industry
Singapore has paved a path for its filmmkaers that's even smoother than Orchard Road. With matching funds, a promotion allowance, and even a guaranteed distribution deal (the holy grail for indie filmmakers), Singapore is driving to build on its newly-high profile following its first-ever showing in Cannes. While this new scheme isn't exactly a free ride for filmmakers, it's as close as one could hope for, covering up to 80% of a production budget*.
The fund requires helmers to have found a local production house that will co-invest. But it could potentially cover up to 80% of the budget in a country where pics traditionally cost little, and it will ensure a release through local distribution-exhibition combine Golden Village. An additional $14,600 is available for promotion.
Scheme is available to Singapore residents working in all genres except documentaries.
SFC and the producer will share revenues in proportion to their investment, but the helmer may negotiate a share of profits once the film has recouped its costs. Golden Village will also negotiate with foreign distributors.
"The addition of this innovative new scheme will draw further attention to Singapore's burgeoning film industry and make it easier for new talent to emerge," Jennie Chua, chairman of the SFC, said.