Thu Sep 26 13:00:00 UTC 2024: ## Runway Launches $100 Million Film Fund to Empower AI-Powered Storytelling

**New York, NY** – Runway, the generative AI company known for its groundbreaking partnership with Lionsgate, is launching a new initiative to support filmmakers using AI technology. The “Hundred Film Fund” will award grants ranging from $5,000 to $1 million to produce up to 100 short films and feature-length movies utilizing generative AI.

Runway aims to encourage experimentation and innovation, emphasizing that the fund is not about recouping investment but about fostering creativity. The company will not hold any ownership rights to the intellectual property created through the program and will not distribute the finished films. Instead, Runway will leverage its advisory panel, including film producer Jane Rosenthal, Nvidia’s Richard Kerris, and artist will.i.am, to connect filmmakers with potential buyers.

“We believe the best stories are yet to be told,” said Runway co-founder and CEO Cris Valenzuela. “Traditional funding mechanisms often overlook these new visions.” The Hundred Film Fund is a “rolling fund,” meaning there is no set total amount Runway plans to allocate.

The program is a natural evolution from Runway’s AI Film Festival, which showcased the work of emerging filmmakers using AI in 2022, 2023, and 2024. The festival partnered with Tribeca Festival this year, further solidifying Runway’s commitment to bridging the gap between technology and creative expression.

“This is not about getting our money back,” Valenzuela said. “This is about promoting AI as a new filmmaking tool for both established and emerging creators. We’re a software company, our business is to sell tools. Our success will be rooted in our ability to help storytellers make these films.”

Runway’s commitment to supporting AI filmmaking is evident in its partnership with Lionsgate, which aims to utilize Runway’s technology to reduce production costs and enhance filmmaking capabilities. The Hundred Film Fund, however, is a separate initiative that underscores Runway’s dedication to fostering a new era of AI-powered storytelling.

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