First place winner gets an all expense paid trip out to Studio 411 in L.A. to pitch their film idea for this upcoming winter. How can anyone be too good to have the chance at actually having a big budget from an already established studio.
and I don't see the finalists being announced until around the 10-13th, as they are still accepting submissions. I'm pretty sure the winner will be announced at the festival, but don't quote me on it.