If you want an idea of what kind of things they consider worthy,
here is a list of the 50 semifinalists from last year, when the theme was "You Build the Future."
2014 Prize intro:
The devices that inform our daily lives were science fiction in decades past. The barriers that once required giant companies to produce such marvels are starting to crumble. Now, one person with one idea can revolutionize the way we live our lives. Be that person.
About Hackaday:
What is Hackaday?
Hackaday is a vigorous community of Hackers, Designers, and Engineers who enjoy building it rather than buying it, fixing it rather than trashing it, and letting no challenge stand in the way of doing amazing things.
Hackaday.com publishes a steady stream of intriguing articles every single day. These include project features from around the community, our own original content, and new developments on the hardware scene. We are the gold standard of Hardware show and tell.
Hackaday.io is one of the many ways that we support Open Design. The hands-on site provides a place to post about projects, connect with others, and collaborate on the next big thing.