All you need to do - assuming you're enrolled in a degree course at an Australian university - is develop an "exceptional and unique" Android app that can make people's lives easier. Apps must be "commercially viable" and fall into the categories of health and education, news and entertainment, social networking, utilities, productivity, and lifestyle. Entries close at 5pm on July 30.
In addition to the prizes, the three top entrants will be invited to a mentoring workshop with experts from Optus and NICTA, and the winning app may be sold and promoted on the Optus App Store.
"The first Unleash Your App competition showcased how truly talented many of our Australian university students are. Last year's winners all had great ideas and demonstrated a real passion and enthusiasm for developing apps that can make our day to day activities more easy and convenient," said Austin Bryan, director of Optus Digital Media.
"Optus is excited to get behind talented Australian students for the second time by providing them with financial, marketing and coaching support to help make their mobile app a success. This competition is one of many initiatives that Optus proudly sponsors to support digital innovation in Australia."
Dr Terry Percival, leader of NICTA's broadband and the digital economy business team. "As Australia's ICT Research Centre of Excellence, NICTA is developing innovative software to meet the challenges of a dynamic, digital - and increasingly mobile - economy. We are delighted to be part of the Unleash Your App competition, fostering excellence in mobile applications development, and supporting and encouraging the next generation of Australian ICT entrepreneurs."
Last year's winner was Australian National University student Zakaria Bouguettaya, who entered MyBus 2.0, a public transport app for Canberra.