Italy’s top animation firm to set up S$25m global headquarters in S’pore

Italy’s top animation studio Rainbow S.p.A has chosen Singapore as the location for its S$25 million global headquarters of its online gaming division.

It will develop interactive games for children based on its successful animated television series, Winx Club.

Rainbow says this will generate hundreds of jobs in Singapore’s computer graphics and IT sectors, but did not provide exact figures.

This is in line with the government’s plans to create 10,000 new jobs and increase the animation industry’s value-added contribution to the economy to S$10 billion by 2015.

The Economic Development Board says the animation and digital media industry has strong growth potential in Singapore.

This is because of the availability of skilled manpower, strong intellectual property protection and established telecoms infrastructure.

And major industry players like Rainbow are optimistic that their business will survive the current economic slowdown.

“We have increased 30 per cent in revenues up to today in 2008… We think that when you have a strong product leading brand, a sure base and not a lot for players to spend, then you can definitely still be successful and not (be) afraid of the recession,” said the chairman and CEO of Rainbow S.p.A, Iginio Straffi.

Source : Channel NewsAsia – 24 Nov 2008

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