I entered the Imagine Cup (referenced here) in 2003 at University. I ranked in the top 100 nationwide for the first round after answering a 30-minute quiz, and won non-OEM Office/Visual Studio.NET software (which I sold on Ebay) and a cool "Microsoft Genius" T-shirt which I occasionally wear. Microsoft go with Fruit of the Loom for their shirts.
I didn't bother with the 2nd round though - the effort curve dwindled after the success of the 1st round.
I didn't bother with the 2nd round though - the effort curve dwindled after the success of the 1st round.