The Cinemalaya Philippine Independent Film Festival is the core project of the Cinemalaya Foundation that provides financial grants for the production of, at most, 10 full-length feature films which will then compete for the Best Full-length Film award. The Cinemalaya competition also recognizes the work of short filmmakers.

The Cinemalaya Campus is an important component of the Festival, providing a venue for interaction and dialogue between alternative filmmakers and those in the mainstream.