The Australian Film Commission has announced an initiative to encourage investment in Australian feature films at the development stage by local and overseas distributors and sales agents.
The Matched Development Proposal will provide AFC funding of up to $250,000 over the next financial year with a maximum of $22,500 to be applied to individual projects. Funds from Australian organisations will lever AFC funds at 1:1.5; funds from overseas organisations will be on a 1:1 basis.
Tim Read, Director of Film Development at the AFC, said: "As a significant percentage of Commission development funds already support projects intended for private sector funding, it makes sense for the Commission to use some part of those funds to assist promising projects which have attracted early market interest.
"The involvement of distribution/sales organisations at the key development stage of a project will both increase the probability of a project ultimately being made and, importantly for the industry, encourage that sector to share the development process on projects considered to be original, fresh and compelling."
Projects are eligible at any stage of development but must be represented by at least a draft screenplay, a detailed outline of the next stage(s) of development intended, description of target audience and financing plans. The producer and writer must be attached and the attachment of a director is encouraged.