After submissions are whittled down to 50 semi-finalists, audiences from around the world will cast their votes, choosing 10 finalists. The finalists will travel to Italy, where their work will be screened at the 2012 Venice Film Festival, and a grand prize winner will be chosen by a world-class jury of industry professionals, and rewarded with a $500,000 production grant to work with Your Film Festival Limited (or its designee) to create a brand new work for the world to see.