B.C.’s film producers are set to gain a new potential funding source, with Telefilm Canada’s announcement of a new private donation fund.
The fund will consist of two streams: one to support promising young filmmakers and a second to help established filmmakers achieve their full potential, in Canada and abroad.
“In keeping with its commitment to foster success, Telefilm continues to find innovative ways to fulfill its role as investor and promoter by offering the Canadian industry a new tool to help it diversify its funding sources and attract larger audiences,” said Carolle Brabant, Telefilm’s executive director.
The fund will canvass private donations from companies and individual donors interested in supporting the production and distribution of Canadian feature films. The donors will gain tax benefits, helping foster success of Canadian cinema.
Once fully up and running, Telefilm estimates that the fund could be endowed with an annual budget of $5 million, which producers could use to leverage other investment dollars.
Telefilm estimates that the fund will create some 150 jobs every year.
The Canadian Chamber of Commerce is a partner in the project.
“The film industry is a clear example of Canadian competitiveness,” said Perrin Beatty, president and CEO of the chamber.
“This new fund is our opportunity to play a valuable role in future accomplishments in arts and culture.”
