Facilitating the production of original cultural content has been a major policy in boosting the nation's soft power. However, in recent years the market has undergone significant structural changes, and coupled with Taiwan's small scale of content production and market demand, this has led to a conservative turn in investors. As a result, finance and funding have become the biggest obstacles in the development of content.
Since taking on her portfolio, Minister of Culture Cheng Li-chun has actively worked to set up a financial system for the cultural industries. Aug. 30 saw the formal launch of the 2018 National Cultural Content Finance Elite Program, which aims to promote dialogue between content producers and the finance world. It is the first step toward setting up funding networks and creating a win-win situation for both parties.
In order to effectively introduce funding to the cultural industries, the Ministry has put in place a variety of cultural finance policies to improve the system. These have included the establishment of the Cultural Content Investment Project, laying out a model for the evaluation of intangible assets, developing investment and financing evaluation tools, and launching the Cultural Content Institute as an intermediary linking the government and the private sector.
In addition, the Ministry has made the Cultural Content Technology Project a "forward-looking project" aimed at midwifing an ecosystem for Taiwan's content creators and cultivating more exciting native intellectual properties and derivative creations.
The first two times the elite masterclasses were held, the focus was on the film and television industry; this time, the scope has expanded to cover all the cultural industries. The program that began today is in two phases. First up, heavyweights from various fields will serve as featured speakers, sharing from their wealth of experience, offering insights into global trends in cultural content, and boosting confidence in investment and funding.
The second phase will take the form of a camp focused on learning to make funding pitches, and will be held on Sept. 11 and 12. The camp will help participants understand the key issues facing the cultural industries in terms of profitability, as well as looking at cases from the perspectives of products, funds, sales, and marketing. Participants will also get involved with practical projects and fundraising exercises. Overall, the aim of the camp is to strengthen each student's ability to manage projects and handle integrated marketing.
Taiwan's cultural industries have already built up a head of steam, and now awaits the next period of explosive growth. Coupled with policies and tools to introduce funding, the Ministry is set to make use of this program to connect creators with funders by fostering a comprehensive boost in core competitiveness. The ultimate goal is to elevate the market share of Taiwanese works and create a robust industrial ecosystem with an eye to internationalization.