Cannes Do, which aims to raise funds by asking everyone taking part in the Cannes International Advertising Festival to donate 50 euros, will support the worldwide charity Ashoka, which backs social entrepreneurs.
The Cannes Do website (www.cannesdo.org) launches this week to enable supporters to back the initiative.
Cannes Do was the brainchild of Robert Campbell, the managing director of Outsider, James Studholme, the managing director of Blink, and Robert Campbell, the UK executive creative director at McCann-Erickson.
The founders announced their intention to "give something back to the wider community" after last year's festival. They want to divert a small portion of the money spent in Cannes to charity.
Cannes Do was formally launched last October, with Maria Carbonara, the former producer at Leo Burnett Milan, as its project co-ordinator.
Ashoka, which will benefit from any contributions, helps build local communities by changing local government policies and working on other social reforms. This year, contributions from Cannes Do will focus on improving the lives of children.
Contributions to Cannes Do will help Ashoka Fellows across the world to work on changing policies and fund local initiatives.
Cannes Do has the support of dozens of senior figures in advertising.
These include the WPP group chief executive, Sir Martin Sorrell; the TBWA\ London chairman and executive creative director, Trevor Beattie; the creative director of Publicis Worldwide, Dave Droga, and the Abbott Mead Vickers BBDO group chairman, Michael Baulk.
The Cannes Do project is not officially linked to the Cannes Festival but hopes to encourage attendees to "put something back".