Italy’s Fondazione Prada has officially launched its new film fund, which has an annual €1.5m to back 10-12 independent films.

First announced in Cannes in May by the fashion brand’s cultural foundation, the Fondazione Prada Film Fund set out its investment criteria and application deadlines at the Venice Film Festival today (September 1).

Speaking to Screen ahead of the launch, the head of the film fund Paolo Moretti said applications are open to “a first time filmmaker or a very experienced master who maybe wants to try something new or something visionary. We don’t want to put boundaries on this, which opens it up to a lot of projects.”

The fund will provide up to €250,000 for each of the projects it backs, based on criteria such as quality, originality and vision, without restrict

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