The oldest and one of the most respected film festivals in the world is the Venice International Film Festival. It was founded by Count Giuseppe Volpi di Misurata in 1932. Since its inception, the festival has been held each year in late August or early September on the island of the Lido in Venice. Films from the world over are shown here. Screenings are held at the historic Palazzo del Cinema situated on the Lungomare Marconi. This esteemed film festival is part of the Venice Biennale, an important two-yearly exhibition and fair for contemporary art. The major awards given at the festival are the Leone d'Oro (Golden Lion), for best film screened at the festival, and the Coppa Volpi (Volpi Cup), awarded to the best actor and actress. The San Marco Award initiated in 2002 is to honor the best film of the Controcorrente ("Against the stream") segment.