Alibaba Pictures to invest 1b yuan in young filmmakers worldwide

The Hong Kong-listed Alibaba Pictures will team up with Paramount in online ticketing, promotions and merchandising for Mission: Impossible－Rogue Nation in China. [Photo/IC]

BEIJING - Alibaba Pictures, a subsidiary of China's biggest e-commerce company Alibaba Group, announced it would invest 1 billion yuan ($157 million) in a project to support filmmakers over three years.

The initiative, a partnership between Alibaba Pictures, Youku Tudou Inc, Beijing Film Academy and the Communication University of China, will cultivate filmmakers under 45 years old across the world, said Zhang Qiang, CEO of Alibaba Pictures on Wednesday.

Selected candidates will be given the opportunity to work under one of three mentors: Anthony LaMolinara, winner of visual effects of the 77th Annual Academy Awards; Hollywood director Renny Harlin; and Chinese director Zhang Yibai.

The initiative will also provide opportunities for talent in animation, film design, special effects and comedy, said Zhang.