ESIO reveals how it will spend part of rejigged fund
The Edmonton Screen Industries Office is now spreading the word on three new streams of funding as part of its $4-million Strategic Initiatives Fund for capacity-building.
"It's the spark that's starting the engine; it's not the fuel that's going to run the engine," ESIO CEO Tom Viinikka told Taproot the day after unveiling the new fund at CKUA on Sept. 27. "We're trying to buy fishing rods, not fish, and those fishing rods should be able to be used for decades after this."
The three new streams account for $1 million of the $4 million in the fund's portfolio. They are called the Elevation Program, for "a significant step forward in the career of the producer" of a film or TV project; the Early Stage Program, for short films and game concepts by fresh talent; and the Underrepresented Initiatives Program, for non-profits working to improve diversity and equity across screen industries.
The fund began as the Edmonton Screen Media Fund in 2018 and was previously focused on projects expected to result in a return on investment. Council approved the change in name and focus earlier this year. "Our goal is not to make money," Viinikka told Taproot ahead of the vote in February. "It's to make an industry that then makes money."
The ESIO, an arm's-length body established by the City of Edmonton in 2017, has a goal to grow the value of the Edmonton region's screen industries to $300 million in the long term and to $100 million in the medium term. Viinikka estimated their current value at $30 million to $40 million, depending on levels of activity in production.
"Money attracts money," Viinikka said. "That's what the SIF needs to be, it needs to be helping something happen that otherwise wouldn't happen."
That logic applies particularly to the Elevation stream. Applicants can receive up to 10% of a project's total budget, to a maximum of $100,000. The hope is that this spurs investment by additional parties.