Runway Introduces $5M Fund to Support AI-Augmented Film Projects
Runway, a leading innovator in AI technology, has unveiled The Hundred Film Fund, a new initiative designed to support creative professionals working on AI-augmented film projects. According to runwayml.com, the fund currently stands at $5 million, with the potential to grow to $10 million.
Funding Details and Application Process
The Hundred Film Fund is open to all formats of film, including features, shorts, documentaries, experimental projects, and music videos. Grants range from $5,000 to over $1 million, with an additional $2 million in Runway credits available for awardees. Applications are now open for creative professionals in the pre- or post-production phases of their projects.
Advisory Panel
The fund's Advisory Panel includes notable industry figures who will provide guidance and help amplify selected projects. Current members of the panel include:
- Jane Rosenthal, Cofounder of Tribeca Festival
- Christina Lee Storm, EMPG Governor at The Television Academy
- Stefan Sonnenfeld, Founder and Senior Colorist at Company 3
- will.i.am, Artist, Actor, and Producer
- Richard Kerris, VP GM Media & Entertainment at NVIDIA
More members are expected to be announced in the coming weeks.
Industry Impact
Christina Lee Storm, Creative Producer and Governor of the Television Academy's Emerging Media Programming peer group, expressed her excitement about the fund, stating, "I'm thrilled to be joining the Advisory Panel for Runway's Hundred Film Fund to help give filmmakers and artists around the world the opportunity to iterate and play with new and emerging tools like Runway. I look forward to seeing new stories and methods of storytelling that this Fund will unlock for filmmakers who may not otherwise have the resources they need to tell their stories."
Runway's Mission
Runway aims to democratize access to advanced AI tools for creative professionals. The company is committed to ensuring that the future of storytelling is artist-led, with innovative technologies like Gen-3 Alpha at the forefront of their efforts.
Professionals interested in applying for the fund can do so at runwayml.com/TheHundredFilmFund.