The contest is broken down into 5 categories: 'Video, Multimedia, & Augmented Reality', 'Gaming', 'Productivity, Business, & Utilities', 'Social Networking', and 'Entertainment'. The winner from each of these categories receives $50,000, 1 year of PDP membership, 250 hours in the Virtual Developer Lab, and an HTC EVO 4G with 1 year of service.
The competition will be judged by a panel of mobile experts, including: Jon Stokes of ArsTechnica.com, Mike Schiraldi of reddit.com, Priya Ganapati of Wired.com, and Len Barlik of Sprint Nextel's Product and Technology Development Organization.
Sprint's 4G service is currently running in 45 markets, and is expanding to much larger cities in the near future, such as New York and Los Angeles. Their 4G-enabled devices are the HTC EVO 4G and the Samsung Epic 4G.
source: Sprint via MobileBurn