Cultural Fund receives 30 applications

Around 30 applications have been submitted for this yearÂ’s cultural fund, the Cultural Industries Fund said in a statement.
Between June 6 and July 18, the fund’s webpage was visited some 6,000 times, the application form downloaded 3,000 times and as many as 508 bookings made to submit relevant application forms. The most sought-after funds were for ‘creative design’, ‘digital media’, ‘cultural exhibitions and performances’ and ‘art collection’.
The Cultural Industries Fund said in its statement that the majority of the 30 applications received were missing documents and relevant paperwork. Saturday marked the end of the first session of application, the second one is slated to open only in the first quarter of next year.
In May, the government announced that locally-registered company applicants who meet the government’s criteria for ‘creative design’, ‘cultural exhibitions and performances’, ‘art collection’ and ‘digital media’ can claim either a direct subsidy or interest-free loan from the government depending upon the nature of the project the company is applying to the fund for.
The direct subsidy is in the form of direct funding of the applicant’s project or a subsidised loan: for projects that are engaged in operating a ‘service platform’ for the cultural industries or ‘the development of a tangible or intangible product’ applicants can seek this subsidy from the government, fund regulations state.
The administrative committee of the cultural industries fund is authorised to grant funding of up to 500,000 patacas (US$62,619) for projects engaged in the production of ‘cultural and creative products’. Projects seeking more must approach the fund’s board of trustees and chief executive.
MacauÂ’s cultural fund for the financial assistance of individuals and private institutions increased by 275.2 percent to 10.68 million patacas in the first quarter of 2014, from the same period in 2013. The cultural fund totalled 53.9 million patacas in 2013.