Redford founded the Sundance Institute in 1981 to nurture emerging filmmakers. The institute has since grown into a development program for thousands of independent directors, screenwriters, documakers, composers, playwrights and theater artists.

In 1985, Redford and his institute launched the Sundance Film Festival, which has become the premiere film fest in the U.S. Films that have gone from the festival to the bigscreen include "Once," "Little Miss Sunshine," "The Station Agent," "The Brothers McMullen," "sex, lies and videotape" and "Reservoir Dogs."

Redford also has guided the creative direction of the Sundance Channel. His latest venture is Sundance Cinemas, with two theaters in operation in Madison, Wis., and San Francisco. Two others are slated to open in Chicago and Denver.

Redford will receive the special award on March 11 during ShoWest's opening luncheon, which will focus on indie and specialty film companies.