Final answer:
The competition to design new bronze doors for the Florence baptistry was held in 1401, won by Lorenzo Ghiberti whose work signified the start of Renaissance sculpture.
Step-by-step explanation:
The competition to design a new set of bronze doors for the Florence baptistry was held in the year 1401. This event marked a significant moment in the Renaissance era of art and architecture. Lorenzo Ghiberti and Filippo Brunelleschi submitted their entries, and Ghiberti was declared the winner. These competition panels have historical importance as they indicate the advent of Renaissance sculpture in Florence. Ghiberti went on to create the acclaimed 'Gates of Paradise' for the eastern entrance of the baptistry, which took 27 years to complete and are celebrated for their use of perspective and rich depiction of biblical scenes. Moreover, Ghiberti's workshop played a crucial role in the revival of the lost wax casting of bronze, a classical technique that had been forgotten over time.