Taiwan's movie industry may be heading towards a revival as more and more heavyweight entrepreneurs are making investments in this field. John Hsuan, the honorary vice chairman of UMC, announced this week his plan to set up a venture capital firm focusing on the cultural industries. And the first movie to be financed by the company may start filming in as early as September.

Empire of Silver, which was filmed in various provinces in China, has a spectacular scale.

Honhai group chairman Terry Guo personally invested NT$400 million in the movie.

Now another IT giant is to follow suit.

Honorary vice chairman of UMC John Hsuan announced that he has raised enough fund to start a venture capital company, moving into Taiwan's cultural and creative industry, with the target being movie industry.

Hsuan says he wanted to invest in the industry but also feared he couldn't find a balance between artistic value and mainstream market.

So he has television producer Wang Wei-chung and theater director Lai Sheng-chuan as consultants.Scholars believe it is good to see IT industry-backed business models in the emerging industry, which may create sparks for development.

Although there were companies making investment in movies, they usually don't see it as part of regular business operation.

Hsuan says that if he can do it, he would have experience in making investment in other projects.

The respected IT tycoon, who is now semi-retired, is eyeing on cultural and creative industry, in the hope to break new ground for the sector.