The literary industry in Singapore turned a page this month as a local publisher announced the country's richest prize for English fiction, unsupported by government grants or other sponsors.
The $20,000 Epigram Books Fiction Prize is the first offered here by a relatively small player, and is the only one for an unpublished novel.
Publisher Edmund Wee says his imprint, set up in 1999, is in the red, but still spends about $1 million a year on bringing out about 50 books - the cash cow is his separate design and pagesetting firm Epigram.
The new award has created a stir at home and overseas and was even written up on the Man Booker Prize blog on March 13. No other Singapore literary prize has managed the same in the past five years.
Part of the reason for this interest is that the Epigram Books Fiction Prize is twice the value of the next largest literary awards here, the biennial Singapore Literature Prize, revamped last year to offer $10,000 each for the best in fiction, non-fiction and poetry published in any of Singapore's four official languages.
The biennial Golden Point Awards for unpublished short stories and poetry in Chinese, English, Malay and Tamil also offer $10,000 in each category, split between a cash award and a grant for training and development.
The Singapore Literature Prize and the Golden Point Awards are offered by the National Arts Council and administered by the National Book Development Council of Singapore. The latter also administers $10,000 biennial awards for unpublished picturebooks and children's fiction, sponsored by the Asian arm of international publisher Scholastic Books.
But the Epigram Books Fiction Prize has the heart-stirring overtone of a maverick gamble. Money talks, and the prize speaks of confidence in writing from Singapore, which has enjoyed a resurgence since 2011, in part because of government grants for arts creation.
Among them are a maximum $35,000 creation grant from the National Arts Council for the literary arts, to support new writing or translations over a period of up to 18 months. The country's highest arts honour, the Cultural Medallion, also comes with $80,000 to support a recipient's next work.
That is not the only reason publishers are now bringing out dozens of books of fiction and poetry a year, compared with a trickle in the 1990s and the 2000s. The other is competition. More independent book publishers are in the market now, investing their own assets in new writing.
Monsoon Books, Ethos Books, Math Paper Press, Epigram Books and Bubbly Books are publishing in genres from detective fiction to literary thrillers to young-adult zombie novels.
Despite the proliferation of titles, financial rewards are hard to reap. Ethos Books and Epigram Books often tap design and pagesetting services to fund their titles.
Math Paper Press is associated with a bookstore, Books Actually, so founder Kenny Leck prints only what he knows he can sell.
His authors often plough their royalties back into his publishing efforts - poet Joshua Ip told The Straits Times that his share of last year's Singapore Literature Prize would go to bringing out the works of other poets.
So there is a pool of people dedicated to encouraging writers, editing and publishing new writing and with every new book setting a higher standard for writing from Singapore. What remains missing is the marketing savvy and infrastructure required to keep these books in the forefront of bookstores and readers' minds.
One clever strategy is investing in a new book prize.
Applying for arts creation grants or nominating a writer for the Cultural Medallion is a largely closed process, and so fails to excite the imagination of writers and readers in the way a single book prize can.