Swissproducers have received a welcome boost with the creation of a Film Foundationin Zurich which aims to have an annual funding budget of at least $7.4m(CHF8.8m).

The launchmakes the Foundation one of the leading Swiss film funding institutions afterthe Federal Office for Culture and broadcaster SRG SSR idee suisse.

The city of Zurich's decision tocreate a new regional fund comes after a public referendum provided a 53.94%majority voting in favour of increasing the city's previous annual financialcommitment of $635,000 to $2.5m

Unless an official objection isfiled against the referendum decision by November 15, procedures will begin tolaunch the Film Foundation with a start-up capital of $17m from the canton ofZurich's lottery fund.

Amongthe films made by Zurich-based production companies are Switzerland's Oscarentry Mein Name Ist Bach by Dominique de Rivaz and Zodiac Pictures' 2003blockbuster Achtung, Fertig, Charlie!