Youtube finally announced its first film competition called Project Direct partnered by Hp. It will be judged by award-winning filmmaker, Jason Reitman.
If you win, you're going to a major international film festival where you'll attend surprise industry events, meet with executives from Fox Searchlight Pictures, and show your film at a private event. You'll also see your winning short broadcast on the home page of YouTube in countries all over the world, and you'll win a $5000 debit card.
THE DEADLINE FOR SUBMISSIONS IS NOVEMBER 9TH and the CONTEST STARTS AT 7TH OCTOBER.
It is an "International Contest" yet you are eligible only if you are a resident of united States, UK, Brazil, Canada, France, Italy or Spain.
For more details check out the Contest Page also the FAQ page