Press release from ScreenACT
In the 2010-11 Budget, the ACT Government announced the establishment of the ACT Screen Investment Fund, an initiative aimed at supporting the growth and sustainability of the ACT screen industry which includes film, television and digital media.
The Fund will provide equity co-investment with the marketplace into eligible projects with clear commercial potential. The initiative is funded at $400,000 in 2010-11, $600,000 in 2011-12 and $800,000 in 2012-13.
Consistent with accepted industry standards, the fund's investment will be the "last money in". Therefore applicants are required to have confirmed finance partners, marketplace commitment or demonstrated marketplace interest in place before seeking production investment from the ACT Government. Any returns from this equity investment will be reinvested in the fund.
The ACT Government has prepared draft guidelines that will facilitate the management of the Fund. They include: the management structure; eligibility and selection criteria; guidelines for application and assessment; and monitoring and reporting. This information is presented in the two documents, the ACT Screen Investment Fund Guidelines and the ACT Screen Investment Fund Terms of Trade. Documents can be downloaded here.
The community is invited to comment on these guidelines. A consultation session will be held from
11:00 to 12:30 on 6 August 2010 at the Griffin Centre, Genge St, Canberra.
Written submissions are invited by COB 6 August 2010.
To register your intention to attend the consultation session, contact:
Chimwemwe Mpaso by COB 3 August 2010
Email: chimwemwe.mpaso@act.gov.au
Phone: (02) 6207 5843