So a handsome initiative from Sydney Film Festival – involving the car company that both sponsored its opening night this year and featured prominently in the film that screened – will be welcomed by aspiring directors.

The festival has teamed with Lexus for what is described as the country's largest cash fellowship for short film.

Four winners will receive $50,000 each to make a short which will premiere at the festival.

Judges at the Weinstein Company, the Hollywood producer-distributor founded by Harvey and Bob Weinstein, will select a short list of Australian finalists once entries close on October 25.

A jury headed by festival director Nashen Moodley will then select the four winners.

These films will also compete with others from around the world in the Lexus Short Film series, which offers the chance to make another short produced by the Weinstein Company, a first-look deal and a tour of their films to four international festivals, including Sydney's.

While Lexus loomed large on opening night this year – both as "opening night partner" of the festival and "brand partner" of Brendan Cowell's Ruben Guthrie – Moodley said the fellowships were not intended to be a product placement exercise for the car company.

"There's no expectation of product placement," he said from South Korea's Busan International Film Festival. "It's linked to the idea of the Lexus Short Film Series, the international competition, but there was a desire to create something that's really going to help Australian filmmakers."

Moodley described the $50,000 fellowship as "a very significant award in that it will give people a lot of creative freedom and enable them to really get the equipment and crew they need and pay professional actors.

"I'm really excited that the festival is moving into this area where we're actively helping Australian filmmakers make their films."

Gillian Armstrong, one of many well-known Australian filmmakers whose early shorts won awards at the festival, said it was wonderful that a private company was helping young Australian talent.

"For young directors, you learn and you find your voice by making short films," she said. "Then the success of those films helps your career.

"I really would not have gone anywhere without the awards for, say, One Hundred A Day, my graduation short film."

Armstrong said the fellowships were timely given Screen Australia and the state film agencies had been forced to cut back on funding shorts because they were so stretched supporting the mainstream industry.

"You have to feed and nurture the next generation of talent. And it not only feeds that new young director, it often gives a young cinematographer a break.

"Often on short films, everyone steps up a level so someone who's been a production manager becomes a producer. Your art director becomes the production designer. So it has a complete effect of helping the whole team."