This article focuses on Eurimages, the Council of Europe fund for the coproduction, distribution and exhibition of European films. The core investigation of this paper relates to the benefits this public fund has had for the European film sector. Reflecting on the fund's twenty-year existence, what output has been realized, both in economic and cultural terms? Turning to the future, what are the fund's prospects now that the sector is facing the technological challenge of digitization? In order to evaluate the performance of the fund, the author takes a closer look at the economic, cultural and technologically innovative results achieved by Eurimages and relates these to the objectives that were set at its establishment. This evaluation is carried out by using statistical data as well as insights gained from policy documents, literature and expert interviews.