At the 2000 Australian Film Institute Awards (AFI Awards), Popcorn Taxi was awarded the prestigious Byron Kennedy Award for outstanding creative enterprise in the Australian Film Industry.

First presented in 1983, this award is given to an individual or organisation, whose work embodies the qualities of Byron Kennedy: innovation, vision and the relentless pursuit of excellence. Past winners of the award include Baz Luhrmann and Catherine Martin, Bob Connolly and Robin Anderson, Rolf De Heer and Jane Campion.

Recipient of the Byron Kennedy Award in 1997, Actor, Director and founder of Tropfest, John Polson, presented the Award to Popcorn Taxi co-founders Gary Doust and Matt Wheeldon at the 2000 AFI ceremony.

In 2003, Popcorn Taxi was presented the Inside Film Award for Film Festival Of The Year.

Popcorn Taxi is the only organisation to win both awards