The logo is built from stripes of colour to represent the different strands of the festival.
The letters are interconnected to represent working together. The colours are bright to show the creativity.
The asterisk shows the interconnected strands as an icon that can be used alone where the application is smaller. e.g a business card may only have the asterisk on the front but may have the entire logo as an image on the back.
The logo was inspired by some of the olympic posters of the past (e.g. Mexico 68) which work well as a visual language for international events. Mixed with modern typography.