AI company Runway is making waves in the entertainment industry with the launch of the Hundred Film Fund, a new initiative designed to financially support filmmakers leveraging AI in their storytelling. In an effort to reshape the future of media, Runway and its production arm, Runway Studios, are offering grants ranging from $5,000 to $1 million — and potentially more — to projects that are incorporating artificial intelligence into their creative process.
Runway, already a rising star in the AI scene, has ambitious plans for this new fund, which seeks to back 100 films that are making use of AI. In addition to cash grants, the company is also offering up to $2 million in Runway credits, which filmmakers can use to access its suite of AI-powered tools.
“We believe that the best stories are yet to be told,” reads a statement on the Hundred Film Fund website. The initiative, Runway explains, is about filling a gap in traditional film funding mechanisms, which often fail to recognize new and innovative approaches in filmmaking. By offering this financial support, Runway aims to ensure that AI remains a key player in shaping the next generation of cinema.
Who’s Eligible?
The fund is open to a wide range of creative professionals, including directors, screenwriters, producers, and more, who are working on AI-augmented projects. Eligible formats include everything from feature films and shorts to documentaries, experimental films, and music videos. The only catch? Projects must already be in progress and utilizing Runway’s AI tools.
In total, the Hundred Film Fund has $5 million allocated to it, with plans to grow the fund to $10 million. Grants will be awarded to those who can demonstrate that their projects need additional funding to cross the finish line.
Big Names Behind the Scenes
Runway is bringing in some big names to help guide the selection process. The fund’s advisory panel includes influential figures in the film and tech industries, such as Tribeca Festival founder Jane Rosenthal, will.i.am of Black Eyed Peas fame, NVIDIA VP Richard Kerris, and TV Academy Governor Christina Lee Storm. More panelists are expected to be announced soon.
AI Meets Hollywood
This fund is just the latest move in Runway’s growing influence in Hollywood. The company recently made headlines with its AI partnership with Lionsgate. The collaboration will focus on using AI for pre-visualization and storyboarding, hinting at the future potential for AI to play a bigger role in blockbuster filmmaking. In theory, a text-to-video AI model could analyze previous films in a franchise, like John Wick, and visualize new screenplays before production begins.
Shaping the Future of Filmmaking
As AI continues to evolve, so too does its role in creative industries. While traditionalists may be wary of how AI fits into the art of filmmaking, Runway’s Hundred Film Fund is betting on the notion that artificial intelligence can enhance storytelling rather than replace it. By providing filmmakers with the financial and technical support they need, Runway is positioning itself as a leader in the burgeoning AI-driven media landscape.
The future of cinema may be intertwined with artificial intelligence, and with initiatives like this, Runway is ensuring that AI-powered storytelling has the resources to thrive.
Interested in applying? Head over to the Hundred Film Fund website to learn more about eligibility and how to submit your AI-infused project for consideration.
