Runway bets big on AI with $5 million fund for experimental films

AI-powered video tools company Runway has a daring calling for movie makers to integrate the use of AI at the set. 100 original films have been promised funding through the Hundred Film Fund, including $5 million in cash grants and up to $2 million in service credit.

This is a clear signal that AI video generators, like Runway, need filmmakers to experiment with their models for the technology to thrive in the industry.

Funding new visions in film

Runway’s initiative is aimed at filling a gap in traditional film funding, which often overlooks experimental projects. Their new fund is offering support to a wide range of formats, including features, shorts, documentaries, music videos, and more.

As noted in the company’s announcement, they’re particularly interested in backing directors who are curious about AI but might not otherwise receive traditional financial support.

With the promise of up to $1 million per project, the fund offers significant backing. However, Runway’s Head of Creative, Jamie Umpherson, clarified that each project’s financial needs will be assessed individually. The company is keeping flexibility at the forefront, allowing the fund to grow to $10 million if necessary, depending on the level of interest and quality of projects.

For directors intrigued by AI but hesitant due to the novelty of the tools, this fund represents an unprecedented opportunity (Image credit) An opportunity for AI-curious filmmakers

For directors intrigued by AI but hesitant due to the novelty of the tools, this fund represents an unprecedented opportunity. It offers them the chance to experiment with generative video models and create something groundbreaking. In a field where traditional production houses are often slow to adopt new technologies, Runway’s support could provide the necessary push for AI to find its place in filmmaking.

Beyond just funding, Runway is offering five special “director residency” positions, though details on these roles remain vague. The residency is likely an effort to spotlight directors who show promise in using AI to enhance storytelling, potentially offering more than just financial backing but creative mentorship as well.

Best AI movies to watch for the weekend

Runway’s move feels partly like a plea for filmmakers to adopt their product, but there’s logic in backing experimental ideas. Having access to powerful AI tools doesn’t automatically make someone a great filmmaker. However, giving creators the resources to experiment might bring unexpected breakthroughs.

Out of the 100 funded projects, Runway hopes a few will prove the real value of AI-generated video, potentially demonstrating how the technology can enhance storytelling in ways previously unimagined.

Take note:

• Applications will be judged based on innovative uses of AI, broad impact potential, and the ability to complete the project within a reasonable timeframe, with a prominent use of Runway required.
• Applications are open on a rolling basis.
• Grant recipients must use the funds for AI-powered films, send biweekly updates, and agree to showcase their work through Runway’s channels.
• Recipients retain full IP rights but must allow Runway to showcase the work for promotional purposes indefinitely.
• The grants are administered by Runway and Runway Studios, and up to five Director Residency positions are also offered.

Runway is pulling out all the stops to make sure these projects have support from experienced voices (Image credit) Will AI take hold in filmmaking?

With giant partners like Lionsgate, Runway is pulling out all the stops to make sure these projects have support from experienced voices. The real test, however, will be whether filmmakers can use AI effectively enough to create meaningful work. Some may see it as an easy way to secure funding, but for others, this fund might be the key to pioneering a new era in filmmaking.

In the end, the Hundred Film Fund is a bold experiment. While it’s uncertain how many filmmakers will truly embrace AI, it only takes one or two breakthrough projects to shift the perception of AI in the film industry.

If Runway can ignite that spark, it could open the doors for wider AI adoption across creative fields.

Featured image credit: Kerem Gülen/Midjourney