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A celebration of digital filmmaking, the competition is open to anybody that has made a movie on a consumer editing system (despite the constant iMovie refs in the article, any home editing system seems eligible). The movies need to be a minimum of 10 minutes long, but submissions can be from anytime in the last two years, so if you've had a project hanging around waiting to be seen this could be its big chance.
Full details can be read here:
Even if you're not interested in the competition, the article makes for interesting reading, including Mike Figgis' thoughts on where digital filmmaking is headed.
Good luck to anybody that enters!