Generative AI company Runway has announced it will offer filmmakers grants of up to $1 million if they use artificial intelligence to make their films.
The company is introducing The Hundred Film Fund to help produce and fund one hundred films which make use of AI to tell their stories.
The fund is open to creatives who are currently working on features, shorts, documentaries, experimental projects, music videos and more, with the caveat that they use Runway’s AI technology on the project.
Grants range from $5K to $1M+ with an additional $2M in Runway credits to be awarded, said the company.
“The rapid advancement of AI tools for film production has opened up unprecedented possibilities for creative expression,” said Runway. “The Hundred Film Fund is an effort to support and accelerate this wave of creativity, fostering innovation in both film production and distribution models.”
Runway has assembled an advisory panel for the Fund which includes Jane Rosenthal, co-founder of Tribeca Festival, Stefan Sonnenfeld, founder and senior colourist at Company 3, musician and producer will.i.am, and Nvidia’s VP GM media and entertainment, Richard Kerris.
“While developing innovative technologies like Gen-3 Alpha is at the forefront of what we do at Runway, putting these tools into the hands of creative professionals is doubly important in our mission to ensure that the future of storytelling is artist-led,” added the company.
Further details about The Hundred Film Fund are available here.
