The Last Chance New Play Fest was founded in 2015 by Rebecca Ryland, the publisher of Heartland Plays. The goal of the Fest was to provide a development showcase for new or overlooked works by Montana writers. Although the primary focus is on plays, the Fest also includes storytelling and improv segments by Montana writers and actors.

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Proposals to produce specific work are accepted during the months before the production. If a proposal is accepted, the producer is responsible for recruiting the director, actors, and crew for the project. The Fest itself produces Montana Short Cuts, a suite of ten-minute plays drawn from script submissions across the state. Playwrights to submit to Montana Short Cuts have no production responsibilities.

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The Fest is currently operated by the Experimental Theatre Cooperative, with Rebbeca Ryland, Executive Producer, Ross Peter Nelson, Associate Producer, and Steven Palmer, Associate Producer.