Panel discussion: Weds. December 3, 2009
Panel discussion: Government assistance: The game development perspective
By: Derek Maninang
Ever wondered how the government plays a role in funding the game industry? Are you looking for more insight on how you can find government assistance for your startup venture?
On December 3rd 2009 Toronto’s IGDA organized a panel discussion geared towards answering many questions on how both government levels (federal and provincial) are involved in Ontario’s game industry as well as how new startup companies in interactive media can seek government financial assistance.
George Geczy from BattleGoat Studios jump started the night as the moderator for the discussion. Sitting at the panel was Jim McNally from Longbow Digital Arts, Keith Makse from Cerebral Vortex Games and Darko Milivojevic who was representing Interactive Ontario.
The night was broken down in to the major funds and tax credits that are available and widely used in the gaming industry. The panel spoke of their individual experiences dealing with the application process to the details and requirements needed in order to qualify for each financial grant. There are three major financial packages available through the province and the federal government which were discussed:
Ontario Media Development Corporation – (OMDC):
This fund is available for game development application through the Interactive Digital Media Fund (IDM). The grant applied for requires an application which is put through a jury style review process. This process can cover numerous company expenses up to 50% of a production budget or $150,000. There are also initiatives put in place to cover export and prototype costs.
Scientific Research and Experimental Development Tax Incentive Program - (SR&ED):
The application process must meet complex guidelines, accompanied by scientific papers and business plans that outline an innovative idea. This fund can cover up to (35% federal and 10% Provincial) 45% of labor, overhead and capital costs. If you would like further information please visit the overview discussed by George Geczy in the forum link below.
Ontario Interactive Digital Media Tax Credit – (OIDMTC):
This is available to all qualifying projects that meet the requirements set forth by the OIDMTC. A 40% refund of Ontario labor costs and a 40% marketing and product refund up to $100,000. Before this fund can be applied for the project must be completed. This also can cover contract work as well as subcontract work up to 40%.
For further information regarding any additional funds and financial assistance programs discussed please refer to the following links listed below.
IGDA Toronto would like to thank Rob Berry and the City of Toronto for providing the conference room along with the coffee and donuts. A special thanks to all the guest speakers as well as everyone one else who came out to support this months meeting. If you would like to get more information on any of the presentations or any other developers discussed in this article you can visit the links listed below.
Further SR&ED information:
http://www.cra-arc.gc.ca/txcrdt/sred-rsde/menu-eng.html
Forum overview on OMDC & IDM:
http://www.igda.org/node/1037168
Other funds discussed briefly:
Bell Broadcast and New Media Fund
Industrial Research Assistance Program (IRAP)
Bizspark (Microsoft)Rogers Venture Fund
Canada Small Business Finance Program
Panel links:
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