James Caan Wants to Help Young Filmmakers

Veteran actor James Caan and Openfilm are offering cash prizes to lucky filmmakers looking to break into Hollywood.

"There's so much great talent, young and old, who weren't in the right place at the right time," Caan tells "Extra." "And this [program] could make it the right time and right place for those people."

Check out what else Caan has to say about this exciting new venture -- along with this son, actor Scott Caan and screen legend Robert Duvall, who will serve as members of the program's advisory board!

To find out more about this unique opportunity, visit Openfilm.com.