Caution: This post might seem somewhat daunting or dull, as it clarifies a very specific funding issue. You have been warned.
One key aspect to consider when assessing a potential project under the CMF Experimental Stream is the nature of the contribution. Indeed, in the experimental stream, funds put in by the CMF at the development stage represent a refundable advance, while at the production stage, funding takes the shape of a a non-wastable equity investment. This can weigh heavily on the decision to submit or not.
In a recent assessment for a development submittal, we asked ourselves what would happen if during the course of developping ab experimental project, we found a broadcaster, and decided to cross over to the Convergent Stream: could the sums dedicated to development (experimental) be transferred to the production budget (convergent)? Well, could they?
Yes. The answer is yes.
Just as the funding provided by the CMF for the convergent development stage is admissible as an expenditure in the convergent production budget, funding granted for experimental development can be applied to the production budget when it crosses over to the Convergent Stream.
This becomes convenient when, for fast-tracking purposes, you submit a project under the Experimental Stream, knowing that you will pitch to broadcasters at the development stage in order to convince them to get on board and broadcast a televison segment.
There, it’s out.