Fox Searchlight Pictures has released the first trailer for Mistress America, arriving in theaters August 14 after making its world premiere at the Sundance Film Festival earlier this year. The comedy marks the third collaboration between actress Greta Gerwig and director Noah Baumbach, following Greenberg and Frances Ha. The actor and director also co-wrote the screenplay together.

In Mistress America, Tracy (Lola Kirke) is a lonely college freshman in New York, having neither the exciting university experience nor the glamorous metropolitan lifestyle she envisioned. But when she is taken in by her soon-to-be stepsister, Brooke (Greta Gerwig) - a resident of Times Square and adventurous gal about town - she is rescued from her disappointment and seduced by Brooke's alluringly mad schemes. Greta Gerwig and Noah Baumbach also serve as producers alongside Scott Rudin, Lila Yacoub and Rodrigo Teixeira.

The supporting cast includes Juliet Brett, Michael Chernus, Cindy Cheung, Shana Dowdeswell, Joel Garland, Charlie Gillette, Rebecca Henderson and Jasmine Cephas Jones. Mistress America will be going up against some steep competition this August, opening against Straight Outta Compton and The Man from U.N.C.L.E.. Can this indie comedy has what it takes to carve out an audience against these potential blockbusters? Check out the new trailer below, and chime in with your thoughts.