The contest was kicked off in various cities by leading Bollywood stars. In Mumbai, actress Bipasha Basu and director Mahesh Bhatt unveiled the competition.
The contest aims at scouting for talented individuals and bringing them together on a single platform to compete for the title of Mr and Miss Bollywood.
The 30 shortlisted candidates will be put through a two-week training programme at Amby Valley, Sahara Lake City, near Pune.
Eventually, three males and three females will be given leading roles in Hindi films. The remaining 24 finalists will be given breaks in television series.
The advisory panel comprises Asha Parekh, Bhatt, Ashutosh Gowariker, Karan Johar and Ken Ghosh.