Working with Bristol City Council and the Regional Development Agency, the research centres on the idea of converting part of an old bottling plant in the city.
The study will establish whether it is viable to convert some of the existing buildings into film and television studios and production facilities.
In a preliminary move, all three partners met for a detailed tour of the site with an independent studio consultant on Friday 27 March.
The study will be completed by the end of May.
Caroline Norbury, chief executive of South West Screen, said: “Bristol has lost some major productions to other UK regions due to the lack of a large scale, dedicated studio facility, even though those shows could have been easily made in the South West. With the loss of Casualty, we want to dispel any concerns that the South West is no longer a suitable home for good drama.
“As a screen agency, we don't have any funds to entice productions in, but a good studio facility would help us compete with the other parts of the UK. That's why we're keen to get this study underway. We believe this would be a positive step for Bristol and are keen to get potential investors on board.”
Long-running BBC1 medical drama Casualty has been based in Bristol since it launched1986. It will move to Cardiff in 2011 as part of the BBC's plan to develop a "sustainable centre of excellence for drama" in Wales.
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