Kaos Films, founders of the British Short Screenplay Competition, is now launching a Feature Screenplay Competition.
The competition will be open to international screenwriters working in any genre of film that can be produced for $2m or less.
The winning screenplay will be announced at the 2009 Screenwriters Festival in Cheltenham.
Kaos will work with Ghost Films to fund the winner's production, with assistance from Kodak and Technicolor.
'This is not a development scheme, the winning screenplay will go into production,' said Kaos' Arif Hussein.