One of the elite families in the history of the Andhra Pradesh (Now Telangana and Andhra Pradesh) had the name Ramanaidu Daggubatii and Nageswara Rao Akkineni. They both had concentrated in cinemas thereby dominating the Bollywood as well as Tollywood from 1960. They had married Rajeswari Daggubati and Annapurna Akkineni respectively after their successful careers. Their second generation had followed their footprints in the Telugu Filming Corporation. They include Lakshmi Daggubati, Suresh Babu Daggubati, Jyotsna Akkineni, Venkat Akkineni, Neeraja Daggubati, Venkatesh Daggubati, Sharath Vijayaraghavan, former wife of Nagarjun Rao, Lakshmi Ramanaidu Daggubati, Amala Akkineni, Nagarjuna Akkineni, Satyavathi Akkineni, Naga Susheela Akkineni, Satya Bhushana Rao Anumolu, Surendra Yarlagadda, and Saroja Akkineni.
The third progeny had names such as Akhil and Naga Chaitanya who had the opportunity to dominate the current market despite severe competition from the Chiranjeevi Family consisting of Mahesh Babu and others. In the year 2000, the family had decided to lay the foundation for an International Organization to nurture and develop young minds interested in the field of Acting and to perform social services. Few years after the proposal had made, they had started an institution called as Akkineni International Foundation (A. I. F.) They had also constituted a trust under his name. The Board of Trustees comprised of the members of both the legends including the people of all cohort. In the year 2006, they had decided to present an award.
They had picked up the field in which the other similar functions such as Dadasaheb Phalke Award, N. T. R. National Award, and Raghupathi Venkaiah Award had not segregated through that journal. The segment had the recognition of the people who had contributed the most for the development of Indian Cinema as well as to those who had achieved everything in their Lifetime while working in the troop every year. The winner in the inaugural edition had the Veteran Director Mr. Dev Anand. Later the awards reached the hands of Shabana Azmi. The 2008 celebrations had many guests from the Telugu as well as other Indian regions had presented. They even had Bhojpuri and Punjabi celebrities. They had given a warm welcome when Akkkineni entered the Hall. He had announced the 2008 dedication. Anjali Devi, a former actress, known for her fantastic romantic skills and family cast in the early 70’s had the winner’s badge. There had much dedication performance by the family in a holistic and respectful way in contrary to the other film awards ceremony.