The Khronos Group, Media Grid Immersive Education Initiative and recently added ElectricRain are sponsoring the 'Champion the 3D Web using COLLADA' contest. If you do 3D, and you can create a 3D model, avatar, world or simulation specifically geared toward virtual worlds, then head on over to the COLLADAContest. First prize is $5,000, a guest appearance at a future Immersive Education Initiative in-world (virtual) event, and a downloadable copy of Electric Rain's Swift 3D. Complete rules can be found here. The contest will draw to close on July 15th and the winner will be announced at this years Siggraph 2009 in New Orleans--attendance is not required.