Participants of this contest will create a game in Silverlight and the winner will get $5000 as the first prize. The contest is open to residents of US and you must be 16 years or older to enter. You can find the official rules here.  You  are allowed to submit 3 entries which will be judged by a panel. Best of the lot will be chosen as 18 finalists. The contest will then go into a stage where visitors will cast their votes on the finalist entries.

There are also second and third place prizes. Read more about the contest and prizes at serverquest.