"It is our mutual goal to bring to the U.K. the very best in current American independent cinema," Redford said at a press event of his partnership with AEG Europe, which will help produce the four-day event in London's 02 entertainment district.
The event is set to take place April 26-29th, 2012, three months after the Sundance Film Festival takes place at its long-time home in Park City, Utah.
Sundance London will feature screenings from the American film festival, as well as live music, panel discussions and other cultural offerings.
Redford's Sundance Institute will select the film offerings for the event, while AEG, which owns the 02 area and surrounding entertainment hub, will handle the marketing and staging of the event.
"We are excited to partner with AEG Europe to bring a particular slice of American culture to life in the inspired setting of The 02, and in this city of such rich cultural history," Redford said.
The number of famous filmmakers who have had seen their big break come at Sundance is a virtual who's who of Hollywood's current power players. Quentin Tarantino, Steve Soderbergh, Darren Aronofsky and Kevin Smith are just a few of the directors who have benefitted from having their movies screened at the festival. Hit movies like "Garden State," "Little Miss Sunshine," and "Napoleon Dynamite" also first saw the light of day at Sundance.