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Investment in cultural and creative sector still 'rough': artist

2012/06/29 10:21:42

Taipei, June 29 (CNA) Investment of venture capital companies in the creative and cultural industry is still done in a "rough" way, local film director Wang Shau-di said Thursday at a national cultural forum in Taipei.

The forum, attended by Culture Minister Lung Ying-tai, was organized by the Ministry of Culture to discuss strategies in Taiwan's cultural and creative industry. It is the first of nine organized by the ministry to seek consensus on Taiwan's cultural policies.

There are many "illogical" things about venture capital investments in the creative and cultural sector because investment companies need to see immediate profit, but culture needs to be built up over time, said Wang, who was invited to attend the forum.

She said many venture capital companies "never care" about culture and criticized the government for "investing in whatever venture capital companies invest in."

The director said only by developing its own unique characteristics can Taiwan's film, television and other creative and cultural industries be able to compete with China and other countries.

Meanwhile, Taiwan Venture Capital Association Secretary-General Su Shih-chung said designers and artists he has met often mistake investment for subsidies and think venture capital companies are there to help them fulfill their dreams.

He said it is the nature of venture capital companies to make money and that people in the cultural and creative sector can turn down investment offers if they feel that they are unable to do what they wish to do.

Digital Publishing Forum Chairman Ho Fei-peng, another participant, said Taiwan has to industrialize its cultural and creative sector if it wants to build it into a stronger industry.

However, he added, money is not the only issue. For example, he said an understanding of the international market is also important if Taiwan wants to create a world-famous singing group, which he said has yet to be done successfully.

Television producer Wang Wei-chung and Wen Chao-tung, a professor from the Graduate Institute of Technology and Innovation Management at National Chengchi University, were also among the forum discussants.

Many industry representatives, artists, experts and government officials attended the forum, which attracted a hall full of crowds.

(By Christie Chen)