Micro-budget films are worth exploring in the face of financial challenges facing film-makers and producers, members of a panel agreed on the sidelines of the 69th Venice International Film Festival on Tuesday. \"Since the turn of the millennium, an ever-increasing number of neophyte film makers have solved the financial challenge of producing films by using digital equipment, and even mobile phones,\" said Peter Cowie, chairman of the international panel \"Micro-budget filmmaking -- The Future of Cinema?\" \"The sheer immediacy and authenticity of these films, plus the fact that every so often one of them manages to make a good deal of money at the box-office, justify their modest means of production,\" said Cowie, film historian and founder of the International Film Guide, in his opening remarks. Against this background, La Biennale di Venezia, organizer of the Venice film festival, launched this year \"Biennale College - Cinema\" to supplement the festival with an advanced workshop for the development and production of micro-budget audio-visual works. The workshop is open to 15 teams of directors and producers from around the world, said Savina Neirotti, head of the program and a member of the panel. Up to three teams will be eventually given a grant of 150,000 euros (188,455 U.S. dollars) to produce and present their finished project at next year\'s festival, according to La Biennale di Venezia.