OMDC's IDM Fund Supports Innovative Economy
TORONTO, Feb. 7 /CNW/ -
The Ontario Media Development Corporation (OMDC) has invested $2.0 million to support 19 interactive projects. The OMDC IDM Fund supports the creation of original, proprietary
content created by Ontario companies. Ontario's interactive digital
media industry is part of Ontario's fast growing innovative economy.
The OMDC IDM Fund commenced in 2005 and was renewed in 2008 by the Provincial government
to encourage growth in Ontario's innovative economy. To date the OMDC
IDM Fund has contributed $7.7 million to support 76 projects with
budgets totalling $32.7 million.
OMDC will be honouring the current round of recipients at an IDM
Showcase tonight that will also feature demonstrations of 10 past
recipients' exciting products developed over the past five cycles of
the IDM Fund.
"The Interactive Digital Media industry in Ontario is a driving force in
today's creative economy. This sector influences the way we live,
learn, educate and entertain while creating valuable jobs and
investments in Ontario. The McGuinty Government is a proud partner in
support of this innovative industry through the OMDC IDM Fund."
- Michael Chan, Minister of Tourism and Culture
"Today's creative industries are big business, contributing $12.2
billion to our provincial GDP annually and employing nearly 300,000
people. The interactive industry alone represents $1 billion dollars
and over 1,000 companies in Ontario - and those numbers are growing
rapidly. As our industry grows in international strength and
recognition and expands into new platforms and markets, support for
interactive digital media companies in Ontario helps to ensure that
they remain competitive on the global stage."
- Karen Thorne-Stone, President & Chief Executive Officer, Ontario Media
"The OMDC's IDM Fund was extremely helpful in assisting DrinkBox Studios
in completing our first original game title: Tales from Space: About a Blob. The fund gave us a real competitive advantage, and allowed us to
employ the people needed to bring our concept all the way to market."
- Ryan Maclean, CEO of DrinkBox Studios Inc.
"The OMDC IDM Fund has helped us to bring successful products to market
as well as develop exciting new ones, including Garage Inc., an innovative iPhone and iPad game and Crash Canyon Adventure, an online game that ties into one of our television programs."
- Dorothy Vreeker, Director, Digital Media, Breakthrough Entertainment
The OMDC IDM Fund supports Ontario companies creating original,
proprietary interactive digital media content and provides up to
$150,000 per project to a maximum of 50% of project budget costs
OMDC's IDM Fund recipients have been recognized for their creativity and
innovation in a variety of platforms.
zinc Roe won a World Mobile Summit Award in 2010 for its series of
mobile applications, Tickle Tap Apps
marblemedia's Taste Buds won a 2010 Gemini Award for Best Cross-Platform Project
Xenophile Media's Love Letters to the Future won a 2010 Gemini Award Best Original Program or Series.
All of these projects received support through the OMDC IDM Fund.
As of 2008 (the latest year for which figures are available), there were
approximately 1,000 interactive digital media companies in Ontario,
employing 16,000 people and generating almost $1.2 billion in
interactive digital media revenue.
The deadline for the OMDC IDM Fund is slated for late summer/early fall
2011 and will be posted on OMDC's website as soon as it is announced.
Ontario Media Development Corporation (OMDC) is an agency of the Ontario Ministry of Tourism and Culture that facilitates economic development opportunities for Ontario's
cultural media industries including book and magazine publishing, film
and television, music and interactive digital media industries.
Disponible en français
SOURCE Ontario Media Development Corporation
For further information: