The Danny Boyle-directed movie is based on the novel 'Q&A', which was originally optioned and developed by Film4 and subsequently co-financed with Celador.
Film4 also has a stake in two of the original screenplay Oscar nominations -- Mike Leigh's comedy drama 'Happy-Go-Lucky' and Martin McDonagh's black comedy 'In Bruges'.
Bookmaker William Hill has installed 'Slumdog Millionaire' as odds-on favourite to win best picture.
The Oscar nominations raining down on 'Slumdog Millionaire' couldn't have arrived at a more fortuitous moment for Film4, as Channel 4 is squeezed by an industry downturn in advertising revenue.
Earlier this month, 'Slumdog Millionaire' collected four Golden Globes including best drama; reached No. 1 at the UK boxoffice; and garnered 20 nominations for the Orange British Academy Film Awards.
The broadcaster recently told the government it is facing a £150m per year funding gap by 2012 that will have to be met by public support.
Its film unit has an annual budget of £11m to bank roll its involvement in movies and help give Channel 4 talent a chance on the big screen.
Channel 4 was not the only UK broadcaster to score an Oscar nomination, with BBC Films' 'Revolutionary Road' notching up a best supporting actor nod for Michael Shannon's portrayal of a troubled savant.
The movie, which was also backed by Hollywood studio Dreamworks, features the heavyweight trio of Kate Winslet, Leonardo DiCaprio and director Sam Mendes and is based on what is deemed one of the great, but not widely read post-war American novels, written by Richard Yates.
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