For the majority of African filmmakers, creative-friendly film financing is out of reach. For investors, the lack of financing and monitoring structures has caused a perceived high risk of funding the industry. A gap exists between creatives and investors who are unable to navigate the other’s ecosystem in mutually beneficial ways.
Meet TalentX, Africa’s first film financing marketplace that enables investors, filmmakers and distributors to interact seamlessly for increased value for all parties.
The Why…
The Nollywood industry is the world’s 2nd largest film industry, producing thousands of films annually and growing 120% year-on-year since 2017. The industry contributes significantly to the economic lives of Nigerians and carries a strong potential for social change. But despite the unique advantages of lower production costs and better profitability, coordinating talent in the highly-fragmented industry requires financing that is difficult to access, and financing structures that are largely non-existent.
TalentX is implementing key financial infrastructure to de-risk investments in authentic African content and creators. It takes a hands-on approach to slate selection, transaction structuring, production management and distribution. TalentX is building an ecosystem defined by trust and collaboration by partnering with industry stakeholders (Sankore Investments, Scriptwriters Guild of Nigeria, Afrochella among others) and backing other unique FilmTech startups (Recce—marketplace for production locations; Albantsho—Africa’s first blockchain-based scripts marketplace).
The TalentX Creatives Solidarity Fund (TCSF) was launched in 2020 to support 50 creatives affected by Covid, with complete script development for 4 creatives and full funding up to N40M for 2 final scripts. In 2021, the annual TalentX Afro Film Fund (TAFF) was designed to give more creatives access to low-cost financing.
The startup recently unveiled a new look that represents a bolder, more energetic system, with the same standing reputation of transparency, creatives’ security and collaboration.
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More on collaboration, TalentX has teamed up with Afrochella and Eden Venture Group to launch the first edition of the AfroTalent Film Festival holding in Accra, Ghana this December (26th-31st). The festival is dedicated to showcasing films made by Africans across diverse genres and celebrating Africans across the continent who are making their mark through their contributions to the development of African cinema.
Contact TalentX: contact@talentx.africa
TalentX Website: www.talentx.africa
AfroTalent Webiste: www.afrotalentfilmfestival.com
