The UK Film Council has launched the Production Company Vision Awards, a new funding initiative designed to help producers develop projects that will broaden the quality, range and ambition of films and talent in the UK.

The initiative, which is part of the UKFC's Development Fund, will offer up to £150,000 to as many as10 production companies over two years, to generate feature film projects.

Applicants must have produced at least one feature film that has been distributed theatrically in the UK and screened internationally in at least one major territory within the last five years. The production company's principals must also have received producer credits on at least two other feature films that have been distributed theatrically.

Tanya Seghatchian, head of the Development Fund that aims to invest £12 million over three years, said 'We want to provide a supportive arena for creative producers with forward thinking UK production companies who have a clear vision and commitment to UK Film'.

Applications must be received by 6pm on 19 September 2008.