Game development contest ($50.000 in prizes!)
Microsoft has recently announced it’s annual game development competition: Imagine Cup.
The Imagine Cup Games Competition is a global contest for the best new student games and the winning team will take home $50,000 (US). Create a desktop or tablet game using Windows, or a mobile game using Windows Phone, or a browser game using Windows Azure and you could win big at the Imagine Cup World Finals in Seattle 2014.
More info and rules in the official competition page.