ON: Funding for interactive digital media products
By CO Staff @canadaone | April 6, 2009
Creative producers in Ontario have until May 11th to apply for funding under the OMDC Interactive Digital Media Fund (IDM).
The program provides up to $150,000 in non-refundable contributions for market-ready interactive digital media projects.
The current level of funding represents a $50,000 increase that was announced in the province's March budget. Other changes to the program include expanding eligibility to fee for-service and minority partnerships between book and magazine, film and television, music or interactive digital media companies. There will also now be two deadlines per year.
Recipients receive 75 per cent of the funding when they execute an agreement with OMDC, with the remaining portions being received with the submission of an interim report (15 per cent) and the final delivery (10 per cent).
Qualifying Projects
The key to IDM funding lies in three components: interactivity, content-driven and commercial potential.
Funding will be granted to products that combine sound, images and text (projects must include at least two of these elements) and that empower users to interact.
Sharon Wilson, a representative from OMDC, notes "... we have moved away from the requirement that the products be interactive. However, they must be intended for a digital media platform, network, or device that is capable of interactivity."
The project must also be suitable for commercial exploitation. Consumers must be the target audience; qualifying projects can be educational, informational or entertainment-based.
Criteria used to evaluate projects includes its economic impact in the province, taking both job creation and spending of funds within the province into consideration.
No funding will be granted to enhance, improve or redesign existing products that have already been released to the market.
Program Objectives
Wilson notes that that program objectives are:
- to support the creation of high quality, original, interactive digital media content products by Ontario companies;
- to assist in capitalizing Ontario-based interactive digital media content production companies;
- to provide flexible funding options that support partnerships between Ontario interactive digital media companies and companies from other creative cluster industries; and
- to contribute to the financing of projects that make a positive contribution to the Ontario economy.
Eligibility:
To summarize, eligible companies are Ontario-based, for-profit corporations that produce digital, screen-based content (can be any screen: computer, TV, kiosk or mobile phone) as a core activity of their business. At least one quarter of the company's revenue must come from the creation of screen-based content products.
The IDM fund will invest in both company-owned, proprietary projects (75% of funding) and partner-owned projects (25% of funding).
The criteria outlined on the OMDC website:
- your company must produce screen-based content products;
- you must be private sector, for-profit Ontario based Canadian corporation that is Canadian owned / controlled (sole proprietorships and partnerships must be willing to incorporate immediately if their application is successful)
- your company is financially sound;
- your company is deemed to be an ongoing with a plan to continue creating digital media products;
- your company must be in good standing with OMDC at the time of the application;
- your company cannot have a majority ownership association with a company that is not a private sector, for-profit association; and
- broadcasters and broadcaster-owned entities are not eligible.
A newly formed company can apply as long as the owner/operators can demonstrate that they have at least 3 years of professional experience in the digital media content production industry and they meet the criteria mentioned above. For partner-owned projects, partners must be in the book and magazine, film and television, music, or interactive digital media industries. They also need to meet the same Canadian-owned, Ontario based criteria set for eligible applicants.
Evaluation:
Applications are evaluated on:
| 15% | Track record of the applicant company and production team |
| 25% | Benefit to the Ontario economy - opportunity for enhanced company revenue and growth, Ontario labour spend, leveraging of other contributions, value of Ontario expenditures |
| 15% | Feasibility of the project with respect to budget, financing and production schedule |
| 25% | Quality, originality and creativity of the project |
| 20% | Potential for commercial success and revenue generation |
For more information or to apply, visit the OMDC website at www.omdc.on.ca
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