Of all the festivals being used as a reference, they are using Cannes! It just happens to be the biggest and (significantly) is also one of the foremost film markets, something that is rarely mentioned. Those responsible would do well to look at the rise of the Rome Film festival as an example of building on something that already exists rather than trying to start from scratch and rival Cannes.
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from the article: Israel film industry opposes plan to bring 'Cannes' to Eilat