WHAT IS ICOF ?
The International Co-Production Fund (ICOF) is a selective fund provided by The Film Development Council of the Philippines (FDCP), through the FilmPhilippines Office (FPO), with the aim of promoting the Philippines as a filming destination and a co-production partner for foreign countries.
This fund is given to qualified Filipino production companies that are co-producing creative content (production to post-production) with an international partner.
- Full-length films (+70 mins of feature, animated, or documentary)
- Entire season of scripted series (+24min/episode) of a live action, animation, or documentary
- The project is a co-production between a Filipino and at least one foreign production company
- The Filipino production company has at least ten percent (10%) confirmed co-production share in the project (with only confirmed financing, excluding possible support from ICOF)
- The project has 60% confirmed financing
- Project that will begin its principal photography, animation production, or post-production within one (1) year from selection
- Project that will submit final verification within two (2) years (three [3] years for animation) from the selection and signing of the MOA
- The project is wholly or partly made in the Philippines, be it production (studio, location shoots) and/or post-production (visual effect, 3D conversion, editing, music and scoring, sound design, editing and mixing, voice overs, color grading, etc.) and/or animation
Filipino production companies or animation studio that meet the following qualifications:
- Organized and registered as a business in the Philippines
- Co-producing an eligible project with a foreign production company
- Accredited by the FDCP National Registry
Note: Applicants will be considered ineligible for funding if they have overdue and/or outstanding deliverable(s) for a project that received funding from any of FDCP programs
- Any genre, except for pornography
- Does not contain issues that are insulting, offensive, and/or portraying the Philippines in a negative light
- Does not promote violence or pose any threat to the national security
All materials submitted must be written or translated in English.
- For Provisional application
- Completed ICOF provisional application form (form provided)
- Evidence proving that the foreign co-production company is eligible to conduct business in their country (either business or working permit/clearance);
- Notarized co-production agreement between the applicant and the foreign production company (bilateral or multi-party) showing the partners announced in the financing plan, respective contributions, and expected revenue streams
- Letters of agreement of the principal financial resources (mandatory for all confirmed financial resources in the application form)
- Copy of the script (except for documentary) and/or treatment of the project (8-10 pages).
- Project dossier (includes logline, cast, mood board, storyboard, filmography, URL to teaser or inspired short film)
- Vision statements from the producer and filmmaker
IF APPLICABLE:
- For original work - a copy of the scriptwriters’ authorized agreement
- For adapted work - authorization letter for the adaptation issued by the copyright holder
- For applicants of post-production expenses - a screening link to a 30 min rough cut
- Evidence of distribution/transmission/broadcast agreement or deal memorandum in the Philippines and/or abroad (for project with a distributor)
- Completed cultural test (template provided)
Qualifying Philippine Production Expenditures or QPPE is the fund’s allowable expenditure incurred in the Philippines for the purposes of producing and making the project, pursuant to FPI guidelines.
This covers all qualified expenses from principal photography to post-production/animation that were incurred from the date of selection and signing of MOA up to the date of confirmation of complete final verification. Enumerated below are the allowable expenses under QPPE:
- Rights Acquisition
- Salaries, Wages, and Social Contribution
- Technical Goods and Services
- Project Related Overheads
- Post-Production and Animation
- Accommodation
- Meals
- Transportation and Travel Expenses
- Legal Costs
- Producer’s Fee (10% of the Fund amount)
All expenses must be paid by the applicant’s company in Philippine peso through a Filipino registered business and/or Filipino citizen under a Filipino contract. Certified True Copy of all original documentary requirements like official receipts, and service contracts, must be submitted to the commissioned auditor.
Final and complete QPPE audited report and Certified True Copy of all original documentary requirements like official receipts, and service contracts, of at least 50% of the fund (inclusive of the cultural bonus if applicable) needs to be submitted to the FDCP for cross-checking.
Submitted projects for provisional application will be evaluated based on the following:
- Degree to which the work promotes the Philippine culture & territory with the cultural test
- Degree to which the work contributes to the Philippine film industry
- Degree to which the Filipino producer participates in the creative production of the work
- 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
Successful applicants of ICOF can receive a fund from:
- Php 3Mn up to Php 10Mn (approx. USD 53,000 up to USD 180,000) for feature & animated films
- Php 1Mn up to Php 5Mn (approx. USD 18,000 up to USD 90,000) for documentary
- Php 4Mn up to Php 10Mn (approx. USD 70,000 up to USD 180,000) for TV/VOD series (one season).
A guaranteed bonus of Php 1Mn (approx. USD 18,000) will be given to selected projects that are co-produced with another ASEAN country aside the Philippines
An additional bonus will be added to the fund amount of selected projects that passed the cultural test:
- Php 2Mn (approx. USD 35,000) for feature and animated films or series seasons
- Php 1Mn (approx. USD 18,000) for documentary
The application periods for submission for FPI are as follows:
CYCLE 1
Application period: FEBRUARY to MARCH
Selection and Deliberation: APRIL
CYCLE 2
Application period: AUGUST to SEPTEMBER
Selection and Deliberation: CYCLE 2 - OCTOBER
In the event that the FilmPhilippines Incentives budget for the year has already been exhausted, the succeeding application period of that year will be closed.
WHAT IS ICOF ?
The International Co-Production Fund (ICOF) is a selective fund provided by The Film Development Council of the Philippines (FDCP), through the FilmPhilippines Office (FPO), with the aim of promoting the Philippines as a filming destination and a co-production partner for foreign countries.
This fund is given to qualified Filipino production companies that are co-producing creative content (production to post-production) with an international partner.
- Full-length films (+70 mins of feature, animated, or documentary)
- Entire season of scripted series (+24min/episode) of a live action, animation, or documentary
- The project is a co-production between a Filipino and at least one foreign production company
- The Filipino production company has at least ten percent (10%) confirmed co-production share in the project (with only confirmed financing, excluding possible support from ICOF)
- The project has 60% confirmed financing
- Project that will begin its principal photography, animation production, or post-production within one (1) year from selection
- Project that will submit final verification within two (2) years (three [3] years for animation) from the selection and signing of the MOA
- The project is wholly or partly made in the Philippines, be it production (studio, location shoots) and/or post-production (visual effect, 3D conversion, editing, music and scoring, sound design, editing and mixing, voice overs, color grading, etc.) and/or animation
Filipino production companies or animation studio that meet the following qualifications:
- Organized and registered as a business in the Philippines
- Co-producing an eligible project with a foreign production company
- Accredited by the FDCP National Registry
Note: Applicants will be considered ineligible for funding if they have overdue and/or outstanding deliverable(s) for a project that received funding from any of FDCP programs
- Any genre, except for pornography
- Does not contain issues that are insulting, offensive, and/or portraying the Philippines in a negative light
- Does not promote violence or pose any threat to the national security
All materials submitted must be written or translated in English.
- For Provisional application
- Completed ICOF provisional application form (form provided)
- Evidence proving that the foreign co-production company is eligible to conduct business in their country (either business or working permit/clearance);
- Notarized co-production agreement between the applicant and the foreign production company (bilateral or multi-party) showing the partners announced in the financing plan, respective contributions, and expected revenue streams
- Letters of agreement of the principal financial resources (mandatory for all confirmed financial resources in the application form)
- Copy of the script (except for documentary) and/or treatment of the project (8-10 pages).
- Project dossier (includes logline, cast, mood board, storyboard, filmography, URL to teaser or inspired short film)
- Vision statements from the producer and filmmaker
IF APPLICABLE:
- For original work - a copy of the scriptwriters’ authorized agreement
- For adapted work - authorization letter for the adaptation issued by the copyright holder
- For applicants of post-production expenses - a screening link to a 30 min rough cut
- Evidence of distribution/transmission/broadcast agreement or deal memorandum in the Philippines and/or abroad (for project with a distributor)
- Completed cultural test (template provided)
Qualifying Philippine Production Expenditures or QPPE is the fund’s allowable expenditure incurred in the Philippines for the purposes of producing and making the project, pursuant to FPI guidelines.
This covers all qualified expenses from principal photography to post-production/animation that were incurred from the date of selection and signing of MOA up to the date of confirmation of complete final verification. Enumerated below are the allowable expenses under QPPE:
- Rights Acquisition
- Salaries, Wages, and Social Contribution
- Technical Goods and Services
- Project Related Overheads
- Post-Production and Animation
- Accommodation
- Meals
- Transportation and Travel Expenses
- Legal Costs
- Producer’s Fee (10% of the Fund amount)
All expenses must be paid by the applicant’s company in Philippine peso through a Filipino registered business and/or Filipino citizen under a Filipino contract. Certified True Copy of all original documentary requirements like official receipts, and service contracts, must be submitted to the commissioned auditor.
Final and complete QPPE audited report and Certified True Copy of all original documentary requirements like official receipts, and service contracts, of at least 50% of the fund (inclusive of the cultural bonus if applicable) needs to be submitted to the FDCP for cross-checking.
Submitted projects for provisional application will be evaluated based on the following:
- Degree to which the work promotes the Philippine culture & territory with the cultural test
- Degree to which the work contributes to the Philippine film industry
- Degree to which the Filipino producer participates in the creative production of the work
- 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
Successful applicants of ICOF can receive a fund from:
- Php 3Mn up to Php 10Mn (approx. USD 53,000 up to USD 180,000) for feature & animated films
- Php 1Mn up to Php 5Mn (approx. USD 18,000 up to USD 90,000) for documentary
- Php 4Mn up to Php 10Mn (approx. USD 70,000 up to USD 180,000) for TV/VOD series (one season).
A guaranteed bonus of Php 1Mn (approx. USD 18,000) will be given to selected projects that are co-produced with another ASEAN country aside the Philippines
An additional bonus will be added to the fund amount of selected projects that passed the cultural test:
- Php 2Mn (approx. USD 35,000) for feature and animated films or series seasons
- Php 1Mn (approx. USD 18,000) for documentary
The application periods for submission for FPI are as follows:
CYCLE 1
Application period: FEBRUARY to MARCH
Selection and Deliberation: APRIL
CYCLE 2
Application period: AUGUST to SEPTEMBER
Selection and Deliberation: CYCLE 2 - OCTOBER
In the event that the FilmPhilippines Incentives budget for the year has already been exhausted, the succeeding application period of that year will be closed.
