For its 2010 design competition, Philips is inviting you to design the next steam generating iron. The goal is to come up with something innovative, geared to 2015, that represents Phlips' brand promise of "sense and simplicity." The top prize is $4500; second prize, $3,000; first, $2,500; and three honorable mentions will be awarded $1,000 each, plus Autodesk software for all. For those of you who are unfamiliar with steam generators, the competition brief lays it all out:

Steam generators consist of a conventional iron and a base. The iron is connected by a hose to a boiler (inside the base) in which steam is built up under high pressure, which is connected to a water tank. Steam generators produce significantly more powerful steam than regular steam irons, and therefore offer the following consumer benefits: It cuts your ironing time by half, and is effortless thanks to the powerful steam; It is very convenient, since consumers can iron for longer ironing sessions without having to refill the water tank; and since the steam is generated by a separate generator, the iron itself is very light and easier to use.

The deadline is November 10th, 5:02 pm on the dot; register and find out more over at Crowdspring.