MUSIC - CALL FOR PROPOSALS
A. Introduction
MDA invites media companies to submit proposals of new initiatives to further develop
Singapore’s music industry to the next level. Companies are encouraged to explore bold
ideas that leverages Singapore’s regional branding, supported by innovative business
models. MDA hopes to see more collaboration between complementary players within the
music eco-system, in order to realise combined synergies to embark on larger projects.
The new initiatives should focus on the following areas:
- Viable and sustainable models to effectively Discover, Develop, Display and
Deploy new music talents, both locally and regionally.
- Positioning Singapore as an important Music Hub in Asia, attracting the best of
western music to use Singapore to reach out to Asia, and vice versa.
Successful projects stand to receive seed funding support from MDA on qualifying expenses
for a determined period. The amount would be disbursed in stages during the project’s
implementation, as reimbursement of qualifying costs, based on the company meeting
mutually agreed milestones, targets and deliverables.
Short-listed proposals would be evaluated by a panel of industry professionals and MDA
representatives. These companies would be invited to present their proposal to the panel.
B. Assessment Criteria
The project proposal must demonstrate one or more of the following factors:
- Addressing a need or gap not currently met in the industry;
- Innovativeness of the business opportunity offered;
- Delivers broad-based impact to the mainstream music industry;
- Commercially viable, sustainable, and scalable beyond Singapore;
- Clarity of business model
- Strong potential to attract investment or funding from sources other than MDA;
- Increase number of new talents trained and skills developed;
- Generate new employment (full time and/or part-time positions);
- Collaboration with local or international partners;
- Use Singapore as a HQ and operating base.
C. Company Eligibility To Apply
- The applying company must be a Singapore-registered and Singapore-based
company with a minimum of 30% local (Singaporean or Singapore PR) shareholding.
- A few companies may collaborate and execute the project as a consortium. The
consortium may include foreign companies. The proposal would then be submitted
by a a main applicant which fulfills the criteria above. The proposal should clearly indicate the various roles and investments of the various partners involved in the
consortium.
D. Submission Requirements
All proposals have to be submitted in a Microsoft Word document, and must include the
following details for submission. PowerPoint slides may be attached as annexes to the main
proposal document.
1. Title of project.
2. A one-page executive summary of project.
3. Detailed project description of the product/service to be developed, including USPs,business models, revenue sources.
4. Implementation plan including milestones, staffing, deliverables, and key performance indicators (KPIs).
5. A three-year financial forecast with operating expenses and expected revenues on a quarterly basis.
6. Project funding plan, including equity participation from investors, amount and type of funding or support requested from MDA.
7. Company’s profile, including current activity portfolio, staff strength, turnover,financial situation. An ACRA business profile must be attached.
8. Profile of key project team members.
9. Declaration:
- Any project grant/funding that the Company has received from any government agency/organisation/statutory board in the past 3 years.
- If current proposal (or in any previous versions) has been submitted to any
government body for funding and the amount awarded, if any.
10. Why the project deserves funding support from MDA.
E. Submission Deadline
The Music Call for Proposal is now closed.
For those who had responded to our last call, a big Thank You. Please check this page regularly for our next Call for Proposal.
Click here for a summary of FY 09 MUSIC CFP.