The policy, which was announced in St Kilda, Melbourne, over the weekend, will mirror its previously short lived Interactive Games Fund.
Labors proposed arts policy will release $25-million dollars into the industry over the next 3-years. Studios will be able to use the fund to help scale up their business and develop new titles.
The policy reads, as reported by Kotaku, “Restarting the Fund will kick start the rapid growth of our games development sector through the establishment of new game studios in Australia, investment and projects flowing into existing Australian studios and a range of joint ventures.”
“This will enable a variety of works and the generation of original intellectual property in long form games, apps, virtual reality and augmented reality with output across the arts, communications, digital economy, innovation, education, training, health, defence, and more.”
The Australian Interactive Games Fund was first introduced by Labor in 2013, releasing $10-million of its $20-million budget. In 2014, the new coalition government removed the policy with no industry consultation and in the face of the fund becoming self sustaining within the time period.
Repeated calls from the industry to have the fund reinstated in the period since have fallen on deaf ears, with a frustrating lack of communication following the presentation of the Senate Inquiry in 2015.
The 2019 Australian Federal election will be held this Saturday, May 18. More to come.