Are you a student from US? If yes, then its for you. Microsoft have announced a new contest for students called Windows Phone App-a-thon. You need to develop a Windows Phone application and submit it to the marketplace. The prize details are as follows,
The first 1,000 students to publish will receive a copy of Halo Reach®, Fable 3®, Dance Central™, Kinect Joy Ride or Kinect Sports game for the Xbox 360®. The student who publishes and enters the most apps will receive $5,000 or an equivalent prize package. The 3 students who submit the 2nd 3rd and 4th most apps will receive $1,000 each.
To get started with Windows Phone development, Microsoft provides you with all the tools required for development with free of cost and also gives you free Windows Phone marketplace registration( It costs $99 for professional developers). If you have some break time, spend it in wise manner.
If you are not from United States, don’t worry that you can’t participate in the contest. Do you know? College students Jake Poznanski and Sam Kaufmann are first time mobile app developers and have already earned $12,000 with their Windows Phone apps. Yes, you can earn real money by yourself by submiting apps and games to marketplace.
More details on this contest and getting started with WP7 development, head over here.