LONDON — The British Film Institute has launched the Film Fund Joint Venture Scheme, which is designed to encourage U.K. film distributors and producers to partner up at an early stage in a project’s financing.

In the JV Scheme, a producer would use part of their U.K. Lottery production award from the BFI Film Fund as a contribution of up to 50% of the U.K. distribution minimum guarantee for a project.

In return, the producer would receive up to a 50% share of the film’s net distribution revenues. This would be held in a “Locked Box” by the BFI, and would be invested by the producer in an upcoming project.

In the pilot phase of the scheme, the BFI will seek to learn which types of projects get the most benefit from the arrangement. The org will test the model with a six-project pilot across a variety of genres, budget levels and partnerships.

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