Venture capital firm Talent 10 Holdings and the Industrial Development Corporation (IDC) recently committed $100 million to develop new entertainment and gaming franchises in South Africa. The announcement was made during the premiere of “Boy Kills World,” a film that is entirely funded, filmed and produced in South Africa.
Talent10 CEO Wayne Fitzjohn said the decision to invest in the entertainment and gaming industry was due to its potential to create a sustainable revenue stream whilst leveraging local skills strengths. The move follows Talent10's successful foray into the technology sector as funder of Internet of Things specialist IoT.nxt, which was sold to Vodacom Group in 2019.
Fitzjohn believes that its expansion into gaming and entertainment will allow it to capitalise on the projected growth in the industry, South Africa's reputation as a great filming destination and the opportunity to develop intellectual property locally whilst tapping into larger international markets.
The goal is to build a world that blends film and gaming through the fighting game “Super Dragon Punch Force,” produced by Talent10's gaming subsidiary, Talent Digital Art. Super Dragon Punch Force 3 was announced at the Cape Town Comic Con event on April 27. Talent10 believes South Africa offers “exceptional” value for money compared to production costs in US dollar terms, while maintaining high quality.
“South Africa is opening up to the international film industry. Boy Kills World is expected to do well at the box office and has the potential to be a major boost to South Africa's entertainment industry. A successful release of the film will likely attract further investment and attention to the country's film production capabilities,” Fitzjohn said.
South Africans have a reputation for generating ideas, and Fitzjohn wants to leverage this strength to create a larger IP space. He added that South Africa is already a popular destination for film, but unfortunately, none of the big blockbusters are South African-made or locally owned.
Anthony Silverstone, creative director at Cape Town-based Triggerfish Animation, believes South Africa has had a huge impact on the animation industry internationally, adding that people around the world have a lot of respect for the local industry and are excited by the quality of work being produced.
