The artificial intelligence (AI) startup Runway announced that it is offering grants of up to $1 million for filmmakers willing to use the technology on future projects.
It’s all part of their newly created “The Hundred Film Fund,” per Variety, which was created to help fund both short and feature-length films. The company noted that grants would range from $5,000 to $1 million and that applications would be processed and responded to within 14 days of submission.
Runway also doesn’t require applicants to use its software, only that they use AI for their work. Any approved filmmakers using AI will be offered up to $2 million in credits to use Runway’s AI program, however.
Runway co-founder and CEO Cris Valenzuela told Variety there isn’t a catch to this offer. “This is not about getting our money back,” he told the outlet, insisting that the grants are simply meant to…