Two new awards, UNESCO Creative Cities Network City of Film Award for the Best Co-Production Market Project and the Matchbox Gap Award for the Best Film Bazaar Recommends Project, have been unveiled at WAVES Film Bazaar, the market component of the International Film Festival of India (IFFI).
The Brihanmumbai Municipal Corporation (BMC) supported by Vault/Costume Peti and National Film Development Corporation (NFDC), revealed the UNESCO Creative City of Film Best Co-Production Market Project Award at. Chanda Jadhav, Deputy Municipal Commissioner (Special), BMC along with Saurabh Kabra, founder and CEO of Vault.rent/Costume Peti will present the award at the closing ceremony on Nov. 24.
As a UNESCO Creative City of Film, Mumbai aims to use the award to spotlight an outstanding project from the Co-Production Market that demonstrates strong creative and production potential and commits to shooting at least 75% of its film in the city. The initiative encourages filmmakers to showcase Mumbai’s diverse locations, artistic talent, and robust filmmaking infrastructure.
The winning project will receive complimentary access to Mumbai-based filming locations, along with props, art assets, and costume support from the Vault.rent/Costume Peti inventory. The initiative also advances Vault.rent/Costume Peti and BMC’s Green Asset Management mandate, promoting recycling, repurposing, and reuse across the production pipeline and reinforcing a commitment to sustainable filmmaking practices.
The Municipal Commissioner, Bhushan Gagrani said of the initiative, “Mumbai stands proudly as a UNESCO Creative City of Film, and this recognition comes with responsibility. Collaboration with Platforms like the NDFC Waves Film Bazaar strengthen our commitment to nurturing talent, accelerating creative entrepreneurship, and positioning Mumbai as a global capital for cinematic innovation. BMC remains dedicated to enabling a seamless, future-ready ecosystem that empowers filmmakers and drives cultural-led economic growth.”
Speaking for Vault.rent/Costume Peti, Kabra said, “Supporting independent filmmakers with sustainable, cost-effective production resources is essential for fostering creativity and innovation in cinema. By providing access to furniture, props, costumes, and other assets recycled from past films and productions, we help filmmakers reduce waste and manage their budgets better, enabling them to recycle, repurpose, and reuse valuable resources efficiently.”
The second award, the Matchbox Gap Award will be awarded to the best project from Film Bazaar Recommends. Designed to support filmmakers during the critical post-production phase, the award provides soft finance of INR15-20 lakh ($16,755-22,335) for post-production services. The winner will also receive expert mentorship from Matchbox Shots LLP, a prominent Mumbai-based production house.
Eligible projects must have completed 100% of principal photography and have a rough cut and preliminary sound design. A jury comprising representatives from NFDC and Matchbox Shots will select the winner, with filmmaker and Matchbox Shots mentor Sriram Raghavan presenting the award at the closing ceremony.
Prakash Magdum, managing director of NFDC, emphasised the importance of nurturing filmmakers at critical stages of the filmmaking process. “NFDC remains committed to empowering filmmakers through focused support at crucial stages of production. The Matchbox Gap Award reflects this commitment by aiding exceptional projects in reaching their full potential for global audiences,” he said.
Sanjay Routray, producer/partner at Matchbox Shots added, “Our vision at Matchbox Shots is to inspire storytelling that pushes boundaries. The post production phase is critical and challenging and we are happy to help deserving filmmakers through the Matchbox Gap Award.”