Canwest and Hot Docs have teamed up to launch the Canwest-Hot Docs Funds, with $4 million to be dispersed over seven years for the development and completion of Canuck docs.

The funds consist of $1-million for development fund and $3-million for completion funds. Canwest supplies the coin and Hot Docs will manage and disperse the funds’ benefit monies, according to a news release.

Benefit monies are regulated by the CRTC in takeovers, and in this case, the ruling was that Canwest must spend $151 million on Canadian production following its acquisition of Alliance Atlantis Communications.

The Canwest-Hot Docs Funds aim to increase the quantity and quality of social, cultural and political one-off documentaries produced in Canada.

‘Hot Docs’ expert implementation of this support will undoubtedly have a positive impact among the independent production community in Canada,’ says Christine Shipton, SVP, drama and factual content at Canwest Broadcasting.

The completion fund is a grant program that will provide financial support of up to $100,000 (capped at 20% of a project’s budget) for production companies to complete specific docs. It is open to producers who have received a broadcast licence from any Canadian broadcaster.

The development fund is a loan program designed to help producers get specific projects developed, researched, written and/or packaged and ready for market. The fund will provide no-interest loans ranging from $10,000 to $15,000 in the early development stage, when projects are at the highest risk and may not yet have secured a market partner.

Detailed guidelines will be available June 1, and application deadlines are set for July 15 and Oct. 15.