The contest opens 1st January 2010, and runs for four rounds throughout the year. The submission deadline for the first round is March 31st, the second round June 30th, the third round September 30th and the final round November 30th. The final round is of two months duration, the rest of three months.
Previous winners have been announced at the World Science Fiction Convention and European Science Fiction Convention, and the contest aims to promote new writers and writing at shorter lengths in the speculative fiction genres (e.g. SF, fantasy, horror).
Full details and entry guidelines are available here.