The competition challenges teams from around the world to create a 30-second commercial to a set brief, shot entirely on the new Nokia N93 mobile phone.
Ten teams of two young creatives will have 72 hours to film and edit their commercial.
Terry Savage, executive chairman of the festival, said: "With the growing significance of mobile advertising combined with amazing performance from today's mobile technology, the time is now right to introduce Young Creatives Film, enabling today's young talent to showcase their creativity on a new form of advertising."
All entries will be judged by the Cannes Lions Film jury and the winning team will be presented with a gold medal during the Film & Titanium Awards Ceremony on Saturday June 24.
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