The long awaited film "Gravity", starring Sandra Bullock and George Clooney will kick off the 70th Venice International Film Festival next month.

Festival organizers revealed yesterday that the film, directed by the famous Alfonso Cuarón, will make its world premiere at the event on August 28th, according to The Los Angeles Times.

The exposure at the Venice International Film Festival may certainly play a factor in the later success of the film, but it cannot guarantee future awards or achievements. In 2011 festival, "The Ides of March," directed by George Clooney and starring Ryan Gosling, was the opening film and later won four Golden Globe nominations and one Oscar nomination. However, last years festival opened with t "The Reluctant Fundamentalist," a Wall Street thriller from Indian director Mira Nair, but did not receive much press or success afterwards.

This year’s festival opener, Gravity, is predicted to earn great praises, as a 3D thriller starring a medical engineer (Bullock) and long time astronaut (Clooney) as astronauts stranded in space after their shuttle is destroyed.

The production and release of the film had quite a journey, from its original start up at Universal Pictures, starring Angelina Jolie to its new home at Warner Bros., the release date was pushed almost a year from its intended reveal.

Alfonso Cuarón will finally see the film released to the world at the film festival in August, and in U.S. theaters on October 4th. Other films he has directed include the 2004 “Harry Potter and the Prisoner of Azkaban”, “Y tu Mamá También” in 2001 and “Children of Men" in 2006, the last two having screened at the film festival in past years according to Channels Television.

The 70th Venice International Film Festival will be held on the Lido of Venice from August 28 to September 7. Look out for later coverage of "Gravity" and the event, organized by La Biennale di Venezia, as well as the line up of films released in Rome later this July.