The new Hollywood Film Foundation plans to give grants of up to $200,000 to emerging Los Angeles filmmakers as a way of encouraging and promoting production in Hollywood and elsewhere in California.
Directors Mark Rydell and Ted Kotcheff and Paramount Studios Group president Earl Lestz have joined the board of the non-profit organization, which was established by the Hollywood Film Festival and Internet outfit Hollywood Network to “support and promote culturally diverse filmmaking,” a statement from the foundation said.
The foundation aims to provide “experimental grants” of between $5,000 and $50,000; “digital moviemaking” grants of the same amount; “finishing” grants of between $5,000 and $200,000; and “partial budget” grants of up to 50% of a film’s budget. The funds are being contributed by individuals, companies and government entities, the statement said, and consist of cash, goods, services and promotional support.
To be considered, projects must be budgeted under $5 million, and at least 75% of the production must be undertaken in California.
“It’s about time that private entities and individuals got together to take action and assist the community to stop the present drainage of both production and creative assets from the U.S., California and Hollywood,” said Carlos de Abreu, foundation founder and exec director of the Hollywood Film Festival.
To channel the grants, the foundation plans to set up the Media Arts Center, where filmmakers will have access to both traditional and new media equipment, educational and mentor programs, social programs, stages, screening rooms, and services at little or no cost.
“Hollywood has been the one standard, the absolute leader in defining how entertainment is produced, created and marketed,” de Abreu said. “We must make sure that the cradle of the motion picture industry continues being the world leader in the creation of content.”