Taiwan Suspends TICP International Co-Production Fund As Part Of Investment Strategy Rethink
05.01.2024 - 08:15
/ deadline.com
Taiwan’s government has suspended its Taiwan International Co-funding Program (TICP) in a move that appears to signal a change in direction towards more mainstream projects.
The decision has prompted concern among Taiwan’s production community, as the fund was being accessed to set up a wide range of international co-production projects, many of which have secured slots at top international film festivals including Berlin, Venice and Cannes.
When contacted by Deadline, Taiwan Creative Content Agency (TAICCA), which manages the fund, offered the following statement:
“To enhance international joint funding and co-production opportunities and to meet the demands of international investments, TAICCA has undertaken discussions to revise and optimize the investment initiatives based on the experience of Taiwan’s International Co-funding Program (TICP). This strategic move aims to attract a broader spectrum of large-scale investment projects, fostering more collaborations between Taiwan and the global community.”
Launched in January 2021, TICP provides investment of up to $300,000 or 30% of a production’s budget, for co-production projects with Taiwanese elements in the production team and/or story. The fund offers investment, not grants, with TAICCA requiring a profit-sharing arrangement for a period of five years, if the production breaks even, with the maximum amount recouped equal to its initial investment.
Among the projects it has co-funded, two premiered at last year’s Cannes film festival – Tiger Stripes, directed by Malaysia’s Amanda Nell Eu, which won the Critics Week Grand Prize, and The Settlers, from Chile’s Felipe Gálvez Haberle, which premiered in Un Certain Regard and won the FIPRESCI prize. Both films