MUMBAI: The Federation of Indian Chambers of Commerce and Industry (FICCI) and Finanziaria Laziale di Sviluppo SPA (FILAS) of Italy signed a Memorandum of Understanding (MoU) for collaboration in industrial innovation and development activities in technology transfer and exchange of best practices in different themes in the cinematographic, audio-visual and media sectors.

The MoU was signed by FICCI secretary general Dr. Amit Mitra and FILAS director general Stefano Turi.

As per the MoU, FICCI and FILAS will cooperation in activities designed to promote the advance of science, industrial competitiveness and economic and social development, with emphasis on areas such as digital technologies and applications, multimedia, cinema production and post-production, animation, photography, music and publishing.

FICCI and FILAS agreed to set up a Joint Committee comprising officials of the two organizations to monitor the functioning of the MoU and approve the activity programme.

The activity programme, amongst other forms of cooperation, will identify and promote opportunities for joint projects and co-production arrangements and develop a feasibility study for the creation of a Seed Investment Fund for new projects and new start-ups in cinematographic, audio-visual and media sectors through co-production and networking meetings.