Details about the competition, which will be hosted by the National Centre for Cinema, were outlined in a statement released on Monday.
According to the press release, the Ministry of Culture will select the winning film from the first 20 films submitted.
The ministry announced that admission is open until Saturday 26 January, 2013.
The award will be equally divided among the winning film's director and production team and the winner will be selected by the people.
The ministry will host the competition at El-Hanger Theatre  for audiences to watch and vote on participating films on 27 and 28 January.
To participate in the competition, please submit two DVD copies of each film, two photos of film director along with a short biography, three synopsis, and a four promotional materials for the film.
All applicants must submit their work at the National Film Centre, Arts City, Al-Haram Street, Cairo.