Matched Initial Option Funding

Screen Australia recognises that special conditions apply in the case of an initial option negotiation for an underlying work for a feature film, where a screenwriter may not yet be engaged and a treatment not yet written. This program provides a specific assessment process for such a situation.

In addition, special consideration may be given in circumstances where there is a limited window of opportunity to option an underlying work, for example, where there is competitive interest in a best-selling book.  In such cases Screen Australia will endeavour to provide an answer within three weeks. Where Screen Australia receives more than one application for the same work, a decision will be made on a non-exclusive basis, and all applicants will be given the same answer.  

In assessing the potential in the underlying work, Screen Australia will consider the criteria detailed below and  will expect the terms of the option to be consistent with marketplace practice.  

Screen Australia expects the initial option period to be no less than 12 months (but prefers 18 months) and the accumulated period of the option and subsequent extensions to be at least four years.

Applicants for Matched Initial Option funding must be experienced producers, proven writers, proven writer/directors or proven directors in conjunction with a writer, as defined in the Feature Development guidelines.

Available funding

Up to $5000 in total per initial option, to be matched by the applicant. Any proposed amounts above this will be considered on a case by case basis.

Funding is exclusively for the purchase of the option. Additional costs such as legal fees and overheads cannot be included.

Assessment process

Applications may be assessed solely by a Screen Australia executive or by an experienced external professional, depending on time constraints, using the criteria set out below.

Screen Australia will advise applicants of the success or otherwise of their application. Where an application is unsuccessful, the reasons will be conveyed to the applicant, with a written statement of reasons provided on request.

Assessment criteria

When assessing applications for this program, Screen Australia will take the following criteria into account:

• the cinematic potential of the underlying work, including:
  - the controlling idea
  - whether the structure could be realised cinematically
  - whether the visual world would translate well to the screen
  - the strength of the central character and their journey
  
• whether the proposed terms of the option are consistent with current market place practice
  
• the track record of the applicant and their ability to develop the underlying work.

Application materials

Applications must be made on the Screen Australia Matched Initial Option Funding application form, and include all supporting material listed in the checklist on that form.

Terms of  funding

Funding through this program is provided as a limited recourse loan.

Where Screen Australia provides development funds and subsequently invests in the production, its investment in the development phase will be added to the production financing amount and the total investment will be recouped in accordance with the terms of trade for production financing.

Funding recipients must deliver

Acquittal of the funds expended.

[Page updated 17 May 2011]