The Festival commemorates ''The 150 Years from the Inauguration of the New Corinthos''  in September 2008.

It is an annual international film festival with a competition section, including interesting satellite events in the area.

CIFF in Corinthos is a sister festival of Cyprus film festival. Both festivals are internationally oriented to offer new and upcoming directors in multiple sectors of entertainment (such as feature films, short films, animations, music videos, dance films and video art) the opportunity to showcase their talent in front of a jury of internationally acclaimed cinema experts, directors and actors.

The awards are the "GOLDEN PEGASOS", film reels as well as crew services and shooting equipment prizes. Equally unique is the condition that these prizes must be utilized for their next project and spent in Corinthos, Greece.