Google has setup a fund of $10 million which it plans to give away for the best idea or ideas. For example, if only one idea is selected then $10 million will be awarded to execute it or if 5 ideas are winners then they get $2 million each.

Ideas can be about anything under the sun and you can submit as many ideas as you want.  Google has used 5 terms to define the criteria for the best idea.

1. Reach: How many people would this idea affect?
2. Depth: How deeply are people impacted? How urgent is the need?
3. Attainability: Can this idea be implemented within a year or two?
4. Efficiency: How simple and cost-effective is your idea?
5. Longevity: How long will the idea’s impact last?

Google also tried to make it simpler for people to understand what they are looking for so that they get a high quality of ideas. Google sited an example of HippoRoller which is a simple idea but has a huge impact and is even related to technology remotely.

"These ideas can be big or small, technology-driven or brilliantly simple — but they need to have impact," Google said in a news release. "We know there are countless brilliant ideas that need funding and support to come to fruition." [Link]

Winners of this contest will be announced on 27th of January, 2009. 27th January is a significant day in US history and the world over. 27th Jan 1926 was the day when John Logie Baird, a Scottish inventor, demonstrated the Television, he called it Televisor back then. Other events include, An American-Only air raid against Germany in 1943, etc… Click here or here to read more about the events occurred on 27th of January.

The submission deadline is 20th of October. So, wait no more. Let your creative juices flow and submit the ideas that are capable of changing the world.  Click here to submit your ideas or here to read FAQ’s before submitting.

Watch the Video below to understand what Google is looking for in ideas.