Complex sentence: In November 2007, the establishment of the "Elfi von Dassanowsky Foundation" was announced which would continue the pioneering and creative spirit of the late artist by developing awards and grant for young female filmmakers.
Split into simpler sentences: In November 2007, the establishment of the "Elfi von Dassanowsky Foundation" was announced. It would continue the pioneering and creative spirit of the late artist by developing awards and grant for young female filmmakers.