Runway launched a $5M 'Hundred Film Fund'

Days after announcing its partnership with Lionsgate, Runway shared in a post that it started a $5 million fund (which could grow to $10 million) to support up to 100 filmographic projects in pre- or post-production stages that prominently feature AI-generated content created using Runway's tools. Project eligibility is not based on any specific format; it can be a feature, short, documentary, experimental project, music video, or something not even covered by this list.

The innovation-supporting grants range from $5K to $1M+ that may be enhanced with up to $2 million in Runway credits. Applications are open on a rolling basis, and the only set requirements are that projects use AI innovatively, have the potential for impact, and can be completed in a realistic timeframe. Selected applicants must agree to provide two-week updates for the duration of their project.

Additionally, Runway will offer up to five Director Residency positions. The details of the positions' allocations are a bit unclear. However, Runway highlights the positions are meant to be awarded as an opportunity for top talent to learn and experiment with the best uses of Runway's technology to enhance their storytelling.

Grant recipients will retain the full intellectual property rights over their creations. However, they must agree to allow Runway to showcase the finished works as the company sees fit, including promotional purposes and placement through distribution channels. The Hundred Film Fund's Advisory Panel, comprising the Runway team and top industry members including Tribeca Festival co-founder Jane Rosenthal, and actor, artist, and producer will.i.am, will be available to offer advice and co-produce select projects.