The Bollywood star, best known to the western audience for her role in TV series "Quantico", will be joined by Hollywood star James Franco, director Ava DuVernay, Xavier Dolan, photographer-director Nabil Elderkin and animator Rachel Ryle.
"Creativity in a minute! Can't wait to see what you guys have in store for us! #TIFFxInstagram @tiff_net," Priyanka, 33, tweeted.
The initiative, a collaboration between the Toronto International Film Festival and the photo-sharing website Instagram, hopes to highlight the best work from upcoming digital filmmakers across the world.
"TIFF's commitment to discovering and developing emerging filmmakers is unwavering. Our collaboration with Instagram is the perfect opportunity to celebrate the work of filmmakers from all over the world and discover up-and-coming talent through the world's largest creative digital community," said Piers Handling, director and CEO of TIFF.
The festival will select 30 finalists which will be whittled down to just one winner by the jury.
The winner will receive a trip to attend the Industry Conference during the festival this September.