Frequently Asked Questions

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Floating Rock's Pitchfest FAQ

Floating Rock’s Pitchfest

Floating Rock's Pitchfest!

How Can We Help You?

Idea

Can I make it a short film?

Not at this time. We are looking for something that can be made commercially as we gain traction.

Can I submit an idea for a live action?

As long as there is heavy VFX involved. We currently can't support full live action.

Can I submit an idea for a game?

Yes, we've opened it up to game pitches!

You're 3D studio, but can my animation be 2D or stop motion?

Yes, we can still build a pitch with you! If it gets picked up for production and it’s a medium we are not capable of at the time, we are happy to reach out to our trusted partners to help us in areas needed.

What’s the budget range the show should aim for?

We don’t have a specific budget in mind. We want to be ambitious to allow for the idea to unfold its full potential as well as realistic for us to sustainably employ our team.

How many ideas can I submit for Pitchfest at once?

Once per Pitchfest.

How can I edit my submission project video?

DaVinci Resolve is a great free editing software if you’re wanting to edit in content/visuals for your project video. This will be shown at Pitchfest if selected for Round 1.

If a pitch is successful and is developed with/by Floating Rock, would the writer remain free to develop his or her material in other ways e.g., novel, short story, graphic novel, etc.?

During the Pitchfest process, we will want the creator to focus on creating a pitch deck first. We would be interested in spinning the idea off into other media if together, we see fit. One would likely follow the other so that it can build on the success and audience of the previous one.

Does the show need to qualify for SPIG (NZ Screen Production Grant) or other government incentives?

No, it does not need to, unless your plan for your story is to move towards a NZ distributor.

Process

Are you opening Pitchfest outside of New Zealand?

Yes, we are opening up to entries from all over Oceania! As a New Zealand company we want to invest in the local arts and pool of activity here in Aotearoa and extend that opportunity to our neighbours.

I am Kiwi/New Zealander but am overseas, can I still submit?

If you have NZ Residency or Citizenship Status you are able to enter Pitchfest. If you're selected to move onto Round 1, we can connect you remotely on the event day via google hangouts. If time zones is a challenge, we will try our best to log any feedback or reactions to your idea to share with you afterwards.

Does the money go directly to the creator?

Round 1 creators will receive the $2 500 when selected from the pool of submissions. If they re-enter with the same idea, the money will not be given again.

Round 2 creators will receive $10,000 after the option agreement is signed.

Round 3 creators will recieve $100 000 into the JVC (Joint Venture Company) once you've planned a budget and is approved by Floating Rock.

Can I request specific people from Floating Rock or elsewhere to work on my project?

Yes, if they mutually would like to work on your project, we will do our best to make that person(s) available for your project.

What happens if I don’t get chosen to move forward from:

Pool of submissions: Continue developing and absolutely re-submit at the next Pitchfest!

Round 1: Re-work and re-submit at the next Floating Rock Pitchfest.

Round 2: If we feel like there's a lot of potential, and you developing, you could get picked up as wildcard (Floating Rock invests in you). Otherwise, you'll have to re-submit at the following Floating Rock Pitchfest.

Distributors: We'll keep the pitch on the pitch plate for another time.

Do I have to be the Director if it gets picked up?

We want to involve you as much as possible throughout your story's development. Your personal abilities and experience will inform us what role you would be the best suited for. Streaming studios will generally not greenlight a show with a novice director or writer. We have options of pairing you up with exerienced people. We want the best chance for your story to succeed and that means assigning the best fit to each role. One thing is certain, you will be credited as the show creator!

Who are you pitching to? When are you pitching them?

Depends on the project, target audience, and market timing. Floating Rock always has someone going to conferences throughout the year with a slate of projects at hand to chat to relevant connections.

Ownership

How do you split the ownership between creator and Floating Rock?

Percentages will be individually determined between Floating Rock and the creator.
We understand the variety in development stages per idea so that will be taken into account.
Rough starting points below.

Round 1 = 100% yours
Round 2 = Floating Rock minority stake within Option Agreement (15%)
Round 3 = Floating Rock majority stake to reflect the risk and money invested into the idea (50%-60%)

Are there any conditions regarding confidentiality and copyright of the pitches?

Yes, it will remain confidential in the pool of submissions and completely yours. Once you’ve made it to Round 1 and onwards, we are keen to start building an audience base and showcase bits and pieces of you and the IP. Please see our privacy policy and terms and conditions for more details.

How are you protecting my idea from being stolen?

Everyone attending Pitchfest is hand picked. This is not a public event. We only invite people who are highly accomplished in the field and have a high level of integrity. On top of that, everyone will be required to sign a special, extremely tight NDA to be able to see any of the pitches.

You may add the copyright © with your name and year onto your content to recognise your rights over your work. More details on NZ’s copyrights information

Trademarking the name and brand in relation to the production company you incorporate is then protected. More details on NZ’s trademark information

Where can I find more information on incorporating a production company for my IP?

If you’re moving onto Round 3 you will need to create a JVC (Joint Venture Company), you can read details on incorporating a company here. Floating Rock and your company will share stakes moving forward. You are welcome to do this prior to entering into Pitchfest for ease of mind for trademarking/copyrights.

Pitchfest Event

Who is invited to Pitchfests?

Pitch presenters, Floating Rock team, small panel of industry experts ie. Supervisors, Producers, Showrunners etc. We carefully choose various passionate, critical thinkers and creatives who have years of film or storytelling experience that are keen to help build great stories with you.

Can I bring my team?

We currently only have space to reserve 2 seats for you and one other to attend Pitchfest. If you would like to bring more, please email pitchfest@floating-rock.com and we can further determine the amount of seats available.

If I make it into Pitchfest, what do I need to bring on the event date?

You don’t have to bring anything, but if you want to bring something related to your idea that you’d like to showcase, bring it! On the event date, we will showcase your project video that you’ve submitted.

What if I can’t physically make it to Pitchfest?

We can host an online video call. If you are pitching, you may film your pitch to play locally at the event.
If time zones are a challenge, we will try our best to log any feedback or reactions to your idea to share with you afterwards.

Legal

Who is responsible for establishing the Company, and what is the proposed ownership split of shares?

FR will provide $800 toward the costs of company incorporation and independent legal advice for the Creator. FR plans to acquire 15% in Round 2 and an additional 50% for Round 3, for a total of 65% owned by FR.

How are the Creator's contribution/shares valued, and what services will each party provide?

The value of the Creator's contribution/shares and the services each party will provide will be discussed between the Creator and FR.

Who will handle accounting/tax, and how will ongoing admin costs be shared?

The handling of accounting/tax and sharing of admin costs will be discussed between the Creator and FR.

What are the proposed terms of the "Service Agreement" and the FR director?

The terms of the Service Agreement were provided. The FR director is to be determined.

How does the annual budget, business plan, and director's indemnity insurance work?

The preparation of the annual budget, business plan, and the decision to obtain director's indemnity insurance (and whether it would cover the Creator) will be discussed between the Creator and FR.

What is the rationale behind the restraint clause, and how does the 'bad leaver event' default work?

The restraint clause prevents a Key Person from leaving and competing directly with the Company they have just left, and to prevent any misuse of Company IP. The Bad Leaver provisions protect the Company from serious misconduct by a Key Person or that Key Person leaving the Company early in its life.

Can the Creator receive income if the project is profitable but the board doesn't agree on distributions?

As the Creator is an equal part of the Board, they would be part of the decision-making process. The Board has the flexibility to provide a return to the Creator through employment/contracting agreement terms, appreciation in the value of shares, or through any dividends issued under clause 19.

If I don't make it through to Round 3, what happens?

Questions?

Contact

If you have more questions please feel free to drop us a line on our contact form.