Hmmm maybe, as the BFI's tenure in control of the purse strings was pretty poor, and its major financing operation was shut in 1999. In fact the BFI underperforming was one of the many reasons the UKFilm Council was set up. As much as I love the BFI (who helped me alot with my dissertation), they will always be primarily a institution about the heritage and education of cinema.
But anyway whether Slumdog would have been successful with help from the BFI or not, is speculation, and i'm only interested in what is the reality. Under the watch of the UK Film Council British film has reached huge heights, that's fact not speculation. Yes there was the likes of Sex Lives of The Potato Men, Revolver etc. to cringe over. But is it really a big deal when a few films flop by a few million when the likes of Slumdog, Bend It Like Beckham, The Constant Gardener, Mamma Mia, Bridget Jones, Bride and Prejudice make hyper-profits in relation to their budgets.
Every studio financier of films backs winners and losers, it's just a part of the industry. But when a lot of films helped by the film council have won, they've won big.
10 years ago the old joke about the British film industry was that only 3 types of British movie had any chance of success (Low budget gangster movies*, Hugh Grant nice but dim Rom Coms, and yet another costume drama of some 18th/19th century novel).
But if the past 10 years under the UK Film Council's watch the type of British movie being made has broadened dramatically. Now we're getting movies like Moon, The Wind That Shakes The Barley, The Last King of Scotland, 28 Days Later, Slumdog Millionaire, Shaun of The Dead, Hunger, Looking For Eric, The Damned United, Kick Ass, In The Loop etc. etc.
And even the appalling movies are doing well. That terrible St Trinian's series has just greenlit a 3rd movie, and chav-tastic Streetdance 3D, has made