Here's basically the gist of the topic:
Scientific progress has brought many benefits to humanity, while some applications of science have had adverse impacts. What kind of science and technology do you think is needed for realizing a more equitable, prosperous and sustainable world for all? Please express your vision for the future of science, including examples of studies or researches you wish to engage in.What's the booty? Winner gets an all expense paid trip to Japan. Last year's winner got to chill with Mr Gates. Now a lot of you might have differing opinions about the man (esp the linux guys), but I would still want to rub shoulders with him. And yes, they throw in a little cash prize of 1000 USD as well.
(Source)
I missed out on this competition last year but this year I am doing it. Here's wishing you all the best kid.