Cannes: Shanghai Media Hub D'Hive Unveils Incentive Plan
Construction on the hub officially begins in the late summer.
Shanghai media hub D’Hive has announced a funding incentive program, which will award up to $5 million yearly to established digital media professionals working on projects in the media hub.
D'Hive is owned and operated by U.S.-China business park group Bestlinkage, the Singaporean consulting firm Cubix International and the municipal government in the Shanghai area of Songjiang, where D'Hive is located.
D'Hive has also opened a service office for foreign companies keen to set up in the hub, helping with incorporating their companies, providing virtual office facilities and helping with co-production applications, as well as matching projects for co-pros.
The incentive program aims to promote and encourage professionals in the digital/media industry, including films, TV, games and music, wishing to set up in D’Hive, Cubix CEO Bee Goh said.
Anyone applying for Queenbee funding must have a minimum of 10 years experience, recognition through an award or involvement in a significant event and have synergy with D’Hive’s industries and direction.
"Candidates must also prove a very strong intention and aspiration to expend into the media industry in China," she said in a statement, adding that budget proposals must be within approval range.
Applications have already been received and six Queenbee programs have already been approved, which will start their development in second half of 2015.
Construction on D'Hive officially begins late summer 2015 and the first phase of development will be opened for occupancy in 18 months. However, D'Hive began operating in March 2014 and its first project will start production in July.
Cristiano Bortone is directing Coffee at D'Hive, the first official co-production between Italy and China according to the recently signed agreement.
The operators say there have been over 15 projects commitment by internationally known producers and directors in different stage of development and pre-production.
The cost of production varies from project to project. A movie heavy on VFX will be the most costly.
The Shanghai government offers rental subsidies, has local tax rebates and labour incubation support, key employee tax waiver, housing allowance for rental and purchase, and a capital assistance program from industry funds and grants.