17 Apr C.I.F in the news
THE CREATIVE industry is often challenged in getting funding for projects because business plans are not aligned to “expectations of investors and financiers”, said Jason Lindsay, managing director of Full Circle Animation during the launch yesterday of the 2013 Caribbean Investment Forum (CIF) at the Hyatt Regency Port-of-Spain.
His company is developing a 25 minute animation feature with US producers which will include local folklore characters.
Lindsay, who participated in the fashion and animation aspect of CIF 2012, said critical elements of the local economic system and investment opportunities were discussed and participants back in 2012 got an understanding of the “other side” – the business side.
“A lot of times practitioners go out there with their business plans without being cognizant of the investment approach,” Lindsay said.
Entrepreneurs, he added, interacted with investors and leaders of industry and subsequently changed their business models and thus were assisted in finding sustainable markets.
He said there is insufficient local consumption to sustain a local animation industry and the CIF allows capitalisation of the “regional base” as the diaspora is another market to be targeted.
Through support from InvesTT, Full Circle Animation made contact with investors in India and animators in India, Canada and the United States. InvesTT also supported capacity building and linking Full Circle with leaders in the animation field who provided mentoring.
Following up on CIF 2012, Full Circle was able to benefit from capacity building through direct meetings with leaders in the field of animation.
“That engagement is invaluable and they have continued to give us mentorship to help us develop and we are in business relationships with them because of that,” Lindsay said.
InvesTT has also facilitated contact with major Los Angeles studios to ignite the local animation sector.
Noka Wheel is the title of the animation film being developed. It will be directed by LA based, TT national Shaun Escayg of the Shaun Escayg Film Company and used local and US actors and animators.
Pre-production is taking place in LA and shooting will take place locally in July.
The film has a budget of US$1.2 million and is being made with private equity and sponsorship from InvesTT and others.
The third annual CIF will be held at Hilton Trinidad on June 10-11 and 200 international participants are expected to attend.
Kelvin Mahabir of InvesTT said at CIF 2013, special emphasis would be placed on strong Latin Economies.
He said the two-day forum brought together business persons from various targeted sectors to network and identify areas of possible collaboration.
By LARA PICKFORD-GORDON Wednesday, May 15 2013