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August 30, 2017 06:41 PM

The Venice Film Festival is officially underway!

Matt Damon‘s Downsizing opened the festival Wednesday night with a gala premiere at which the 46-year-old actor looked sharp in his suit as he posed with his wife Luciana in a red strapless dress.

The married couple of 11 years were joined by Damon’s costars in the film, including Kristen Wiig and Hong Chau, as well as Annette Bening, who is serving as the jury president for this year’s festival.

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The Alexander Payne-directed movie follows Damon’s character as he and his wife (played by Wiig) debate whether or not to shrink themselves down to less than one percent of their body size in order to live on a luxurious compound funded by the government. The satire explores how overpopulation and rising inflation could lead people to make drastic decisions in order to live lush lives.

Also starring in the film are Jason Sudeikis, Laura Dern, Christoph Waltz and Neil Patrick Harris.

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The 11-day festival will also feature the premiere of Suburbicon, another Damon film with George Clooney as director. The new father is expected to make his first public outing with wife Amal Clooney since they welcomed twins Ella and Alexander in early June.

Jennifer Lawrence and director Darren Aronofsky are also making their way to Venice with the premiere of mother! — which will mark their public debut as a couple.

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