WHAT IS ACOF ?

The ASEAN Co-Production Fund (ACOF) is a selective fund provided by The Film Development Council of the Philippines (FDCP), that aims to promote the Philippines as a filming destination and a co-production partner for ASEAN countries. This grant is given to qualified Filipino production companies that are co-producing creative content (production and/or post production) with an ASEAN partner. Qualified and accepted projects will receive monetary support ranging from PHP 2.5 Million to PHP 7.5 Million (approx. USD 45,000 to 130,000).

Eligible Projects

• Feature films that are more than 75 minutes (live action, IMAX, documentary, animation)
• Projects that are co-produced between a Filipino production company and an ASEAN** production company (the Filipino producer must have a minimum co-production share of 10%)
• The director is of ASEAN nationality
• Projects that will be wholly or partly made in the Philippines, be it production (studio or on-set shoots) and/or post-production (animation, visual effect, 3D conversion, editing, music and scoring, color grading, etc.)
• Projects that will begin its principal photography, animation production, or post-production within one (1) year from the approval of the grant
• At least fifty percent (50%) of the total production expenditure will be spent on QPPE (refer to the QPPE portion for more information)

Eligible Applicants

Filipino production companies that meet the following qualifications:

• Serving as a co-producer in an eligible ASEAN project
• Organized and registered as a business in the Philippines
• Accredited by the FDCP National Registry

Eligible Content

Any genre and theme, provided that it does not contain violence, pornography, insult, national threat, and does not portray the Philippines in a negative light. 

Requirements

REQUIREMENTS (see guidelines for detailed list)

• Completed ACOF Provisional Application Form
• Applicant’s bank certificate
• Documents that prove/support the following:
• The ASEAN co-production company is eligible to conduct business in their country (business or working permit/clearance)
• Agreement between the applicant and the foreign production company (bilateral or multi-party)
• Filipino co-producer has at least 10% share in the project
• Copy of the script and treatment (8-10 pages)
• Recorded project pitch and dossier (including logline, cast, mood board, storyboard, filmography, production budget, and URL to teaser or inspired short film)
• Vision statements from the producer and filmmaker
• Distribution plan
• Statutory declaration signed by the applicant’s company
• Letters of agreement with the principal financial resources

Qualifying Philippine Production Expenditures (QPPE)

The allowable expenditure incurred in the Philippines for the purpose of producing and mounting the project, pursuant to FPI guidelines. This covers all qualified expenses (from production to post-production), incurred from the date of provisional confirmation, up to the receipt of final verification confirmation from the FPO.

• Rights acquisition
• Salaries, wages, and social contribution. If filming will be done outside the Philippines, only salaries for above-the-line creative personnel will be allowed (cast, producer, director, scriptwriter, cinematographer, editor, production designer, composer)
• Technical goods and services
• Project-related overheads and other goods and services
• Post-production and animation
• Accommodation
• Meals
• Transportation and travel expenses
• Promotion expenditures in the Philippines

Evaluation

Projects will be evaluated and selected based on the following criteria:

• Degree to which the work promotes the ASEAN culture and territory
• Degree to which the work contributes to the ASEAN film industry
• Degree to which a Filipino producer participates in the creative production of the work
• The global quality of the project
• The financial strength and stability of the project
• The international distribution potential through festival, theatrical/VOD release and platform in order to reach international audiences

Support

• Successful applicants of ACOF can receive funds ranging from PHP 2.5 Million to PHP 7.5 Million (approx. 45,000 to 130,000 USD)
• The fund will be released in three (3) installments.

Initial release (50%) of the fund to be issued within sixty (60) days prior to the confirmed first day of principal photography, animation, or post-production, and upon submission of requirements (see guidelines for detailed list of requirements)

Second release (30%) will be issued within sixty (60) days upon submission of the second batch of requirements (see guidelines for detailed list)

Final release (20%) will be issued within ninety (90) days upon approval of the final verification documents and submission of final requirements (see guidelines for full list)

Application cycle

January to March, May to July, and September to November