World renown director Ridley Scott has been involved with Youtube in several projects before.

His latest collaboration with the the video giant is an online film festival that really sounds like a great opportunity for up and coming filmmakers and videomakers out there:

This is Your Film Festival. You have until March 31st to submit a short, story-driven video. There’s no entry fee. It can be any format – short film, web-series episode, TV pilot – and any genre. In June, audiences around the world will vote, sending 10 deserving storytellers to open the 2012 Venice Film Festival where a Grand Prize Winner will be be rewarded with a $500,000 grant to create a new work, produced by Ridley Scott and his world class team.

How cool is that? Also shows the importance of finding talent doing online video these days – and believe me, there is a LOT out there!

Finally, check out a cool motion graphics video that Youtube put out to promote it:

So, get your video ready and get it to the festival till the 31st of March, right here. Good luck!