Apple has just announced their first ever Insomnia Film Festival, open to all student filmmakers over 18 years of age. The concept is simple, you have one day to script, film, and edit a 3 minute (or less) short film that incorporated three elements that Apple will post on November 10th at 5pm. You will then have 24 hours to complete your film and submit it, though the films must be made on Mac and submitted in Quicktime.
Only the first 500 teams to register can participate, though each team can have up to 5 members. Full contest guidelines canbe found here, and Apple has also posted the judging criteria which will be used by judges like Matthew Modine, Jon Shenk, and Rebecca Stockley.
Each member of the winning team gets Final Cut Studio, a copy of Shake, and an 80GB video iPod for their portable portfolio.