Canwest and Hot Docs have teamed up to launch a $4-million fund to be spent over seven years on development and completion of Canuck documentaries.

The Canwest-Hot Docs Funds consist of a $1-million fund for development and $3 million for completion of projects. Canwest is supplying the cash, while Hot Docs will manage the funds.

The funds come from the benefits package set by the CRTC following Canwest’s acquisition, with Goldman Sachs, of Alliance Atlantis Communications. Canwest must spend $151 million on Canadian production because of the takeover.

The Canwest-Hot Docs Funds aim to increase the quantity and quality of social, cultural and political one-off documentaries. In Hot Docs’ hands, it ‘will undoubtedly have a positive impact among the independent production community in Canada,’ said Christine Shipton, Canwest SVP of drama and factual content, in a statement.

The completion fund is a grant program that will provide up to $100,000 (limited to a maximum of 20% of a project’s budget) for production companies to finish specific projects. 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 ready for market. It will provide no-interest loans ranging from $10,000 to $15,000 to projects in early development.

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