- Runway has set aside $5 million to fund up to 100 films using its AI-generated video technology, with grants of up to $1 million per project.
- The fund may grow to $10 million and will also offer $2 million in Runway credits for services.
Runway has announced a $5 million fund to support up to 100 original films that utilize its AI-generated video technology. The Hundred Film Fund aims to help AI-curious filmmakers kick-start their projects, offering cash grants and up to $2 million in service credits. Eligible projects include features, shorts, documentaries, experimental works, and music videos.
"Traditional funding mechanisms often overlook new and emerging visions within the larger industry ecosystem," Runway stated.
The fund is intended to encourage filmmakers to explore AI-driven production methods, with the potential for the cash pool to grow to $10 million.
Jamie Umpherson, Runway’s Head of Creative, explained that the goal is to be "as flexible as possible" in assessing each project’s production needs. While some projects may receive up to $1 million, the exact grant allocation depends on individual proposals. Five director residency positions are also available, though specific details remain unclear.
Runway promises not to assert ownership or control over the projects but will require biweekly production updates and retain the right to showcase the final films. Industry experts, including Tribeca co-founder Jane Rosenthal and musician, will.i.am, will help select the awardees.
Despite concerns about uneven results, with industry veteran Michael Black cautioning that "you can give somebody a powerful car, that doesn’t make them a Formula One driver," the wide net cast by Runway may lead to breakthrough uses of AI in filmmaking. The company hopes that by supporting diverse voices, AI-generated video could prove its value in the industry.
Edited by Harshajit Sarmah
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