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The Sundance Film Festival was actually set up by Robert Redford and takes it's name from his character Sundance in the Butch Cassidy. The festival has really come to prominence in the last five years and is seen as the debut festival for many of the successes in the idependent film scene. If your film gets into Sundance then you've really got a tremendous opportunity. A couple of years back a small film called The Blair Witch Project gained some attention. Well the rest is history. A small $60,000,000 film called Pi gets bought for $1,000,000. It's a big market with a lot of studios looking for sold films to buy which they think they can make money off. Many of the new wave of directors got recognized at Sundance. The past year was a quiet affair and didn't really have anything that created a buzz in Hollywood but this is the one everybody dreams of going to.