Spanish producer Tornasol Filmsis backing a new prize for the winning film at the two-day Ibero-American Co-Production Meeting of Mexico's Guadalajara International Film Festival (March 24-31).

Tornasol will bring $302,812 (250,000Euros) to the winning film as co-producer, taking an agreed upon percentage ofthe production depending on the budget.

The winner is chosen from 20 projects pitched over thecourse of the two-day market (March 25-26)toaninternationalgroup ofproducers, financiers, distributors and filmfund chiefs who attend with an eye to investing in projects. Some 60 contendershave already been received for the selection at this year's market.

Ernesto Contreras' BlueEyelids (Parpados Azules)was the winning film last year, earning awards ranging from equipment loans to p&a support to discounts on film development, colourcorrection services, materials and insurance. These awards are substituted thisyear by the Tornasol Prize.

Mexico'sleading film festival will celebrate its first edition this year under newdirector Jorge Sanchez, a veteran producer-distributor-exhibitor who for thelast four years worked as Mexico'sconsul general in Brazil.

Gerardo Herrero and Mariela Besuievsky's Madrid-basedTornasol Films is a frequent co-producer with Latin America. Credits include Fabian Bielinsky's new TheAura (El Aura), Juan Jose Campanella's 2001 hit The Son Of The Bride (El HijoDe La Novia) and Arturo Ripstein's1999 Cannes screener No One Writes to theColonel (El Coronel No TieneQuien Le Escriba),co-produced by Jorge Sanchez.