How does the NFVF support development?
The development of projects is seen as a vital component of the NFVF's strategy and an important basis upon which any film production strategy should be built. The Foundation will consider contributing development funding to projects in the following categories:
Feature-length and short films
The Foundation considers development funding as an investment and will set in place mechanisms to recoup all of its development expenditure with interest on principal photography when the project enters the production phase. If a project fails to be realised, the Foundation reserves the right to be reimbursed.
How are funds disbursed?
When development funds are allocated, payments will be made in three installments subject to the provision of cost reports that includes proof of expenditure. The final allocation will be paid upon presentation of final script.
The NFVF may at its discretion appoint an auditor for non-commercial projects.
Who qualifies for development funding?
Independent production companies or writers may apply to the NFVF for development funding. In the case of writers, the NFVF may assist the writer to find a producer. Companies that apply for development funding must hold exclusive rights or options for at least 24 months.
How are development funding applications evaluated?
In addition to the general criteria listed in Section 3 above, projects will also be evaluated according to:
the likelihood of the developed project reaching its target audience
the likelihood of the project obtaining production finance
local and international distribution intent
When evaluating co-productions, preference will be shown to projects with local creative control.
Development Funding Application Process and Requirements: The following supporting documentation must be submitted together with an official application form:
A covering letter of motivation
Chain of Title
Writer's Curriculum Vitae
Producer's Curriculum Vitae
Estimated production budget
Target audience/distribution plan
Track record of Production Company
Proof that the applicant is the owner of the company
Proof of South African identity and tax clearance certificate
The following items should ideally be included in the Development Budget listed above:
Acquisition of idea for a script
Acquisition of rights
Option on rights
Producer fee (where appropriate). This should not exceed 7% of the total budget.
Travel costs for accessing finance for projects (local or international) - a limited amount of these costs may be covered by the NFVF.
Overheads -this should not exceed 5.5% of total budget excluding the Producer Fee.