The Hundred Film Fund will fund 100 original films with $5 million in cash and up to $2 million in service credits.
AI video production platform Runway has announced The Hundred Film Fund, which includes $5 million in cash and up to $2 million in service credits to fund 100 original films.
Through the fund, Runway plans to award grants specifically to filmmakers creating features, shorts, documentaries, experimental projects, music videos, or an as-yet-unknown format. We can say that the company aims to get more directors and filmmakers to use Runway with this fund.
According to the announcement, the cash portion of the fund has the potential to grow up to $10 million. According to Runway Chief Creative Officer Jamie Umpherson, the company wants to be as flexible as possible in how they approach the scope of this fund. Runway is currently starting with a hundred films to fund, but aims to do more over time. The company says the grants could reach up to $1 million per movie. According to Umpherson, when it comes to grant evaluations, each project will be evaluated based on its specific production needs.
In exchange for the grants, Runway will not claim any ownership over the projects. Likewise, the initiative will not seek to control the production processes. However, grant winners must send Runway production updates every two weeks. Directors will request that Runway be allowed to showcase the final result as it sees fit. Advisors such as Jane Rosenthal, co-founder of the Tribeca film festival, Richard Kerris, GM of Nvidia, and will.i.am will help select grantees and support applicants in their production process. It is possible to apply for the grant through The Hundred Film Fund page on Runway’s website.
