Taiwan's IT wizards turn to the movies
22.05.12
By Benjamin Yeh
TAIPEI, January 4, 2012 (AFP) - As a long career devoted to Taiwan's technology sector draws to a close, Max Fang has turned to an entirely new task -- helping to build a globally competitive film industry on the island.
To this end, 60-year-old Fang has launched a venture capital fund, much as he would do if he were to pour money into new IT start-ups, but with the crucial difference that the fund is solely meant for movie and TV projects.
"Our eventual goal is to build a Chinese Hollywood," said Fang, the chairman of Maxima Capital Investment which runs the TC-1 Culture Fund.
The fund is bolstered not just by Tw$270 million ($9 million) of risk-loving cash, but also by a comprehensive vision for where Taiwan's economy should be heading in the coming years.
Taiwan has been very successful in the IT industry, but as competition from other tech-savvy societies heats up, it is time to start thinking about new ways to prosper, according to Fang. And he has some ideas how.
Source: Sin Chew Jit Poh