As part of the April 23, 2015 budget, the Ontario government has injected additional funding into the OMDC Interactive Digital Media fund program to enhance its mandate. The IDM fund, aimed at enabling the creation of high quality, interactive digital media content that positively affect Ontario economy, is administered by the Ontario Media Development Corporation (OMDC). For 2015-2016, the highly competitive program will award up to $6,000,000 in funding to eligible companies for new and ongoing digital media projects.
For the 2015-2016 program, the fund will allow applicants to apply either under the Concept Definition Stream or the Production Stream:
- The Production stream supports the creation of market-ready content projects that will be released directly to end users. This stream has a non-refundable contribution capped at 50% of the project budget, up to a maximum of $250,000.
- Likewise, the Concept Definition stream supports early-stage activities that will help applicants move a market-ready content project towards production. This stream has a non-refundable contribution capped at 50% of the project budget as well, up to a maximum of $50,000.
In both cases, the OMDC will assess the economic impact of the project in awarding funds, especially in relation to the creation of jobs in Ontario and the use of Ontario labour, both direct and in-direct. Established Ontario companies and start-ups in Ontario will be considered for funding, assuming the companies meet eligibility criteria as outlined in the IDM Fund Guidelines.
NorthBridge has worked with a variety of digital media companies and helped them secure government funding for their interactive digital media products. If you would like more information on this program, or to inquire as to your company’s eligibility for this program, please contact us at info@northbridgeconsultants.com.