DreamBuildPlay.com has announced the "Warm-up Challenge" in their XNA Game Development Competition. The top five entries win $500.

Judging criteria
Entries will be evaluated using these three criteria:

* Innovation (40%) – Push your creative and technical limits
* Fun Factor (40%) – Hook our judges with exciting, entertaining action
* Production Quality (20%) – Make your game world as polished as possible

Registration and preparations to enter the Warm-Up Challenge commence
on 2/13/07. Official entry period is from 2/21/07 at 12:00 AM Central Time (“CT”) (CT = GMT – 06:00) through
2/28/07 at 11:59:59 PM CT in eligible geographies. Must at least 18 years old.



Building games for Xbox 360 requires an active subscription to the XNA Creators Club

get more info here