In yet another strategic expansion, India 's leading integrated media company Eros International is working with international visual effects expert Charles Darby to start a new venture called EyeQube Studios Private Ltd.
Eros will make an initial investment of $5m-$7m into EyeQube and each film will bring in its own production budget.
Eros holds the majority ownership stake in the new company, and Darby will hold a smaller stake. The aim of the studio is to provide more than a visual effects facility, but to provide a digital 'eco-system' akin to the Hollywood studios.
Darby has worked on films such as The Fifth Element, Titanic, Harry Potter and the Prisoner of Azkaban and Minority Report. He is one of the pioneers of digital matte paintings and has worked on more than 45 films in the last 13 years.
EyeQube is positioned as India 's first company built from the ground-up for film effects supported by world-class training from international experts in the field.
EyeQube will exclusively handle visual effects for all of Eros International's productions and co-productions and is already working on two Eros co-productions - Drona and Aladdin.
Eros also said it would now aim to work on project that lend themselves to cutting-edge visual effects to make the best use of EyeQube.
Darby was clear that EyeQube would provide artists a canvas to explore their creativity, going beyond simply 'removing wires and other mechanical jobs that seem to be outsourced to the Indian visual effects industry'.
He added: 'India has talent, drive, passion and ambition but lacked infrastructure and exposure to the right opportunity, which Eros is bringing to the table. Our collective strengths will allow us to channelize the talent within India into a very special facility that focuses on quality rather than quantity and sets exemplary standards in their work.'
Unlike other effects studios built on commercials, music videos, television content and film, EyeQube will exclusively work on films offering inputs at every level including story development to visual design, production design and art direction,
Sunil Lulla, president India for Eros International said: 'EyeQube will help raise the bar of Indian visual effects and catapult our industry to international standards. EyeQube will produce not only Indian films with visual effects never seen before, but also be selectively involved with a few prestigious international projects.'