Web 2.0 is all about mashups, and Microsoft wants to get in on the action. They have set up a new competition where winners can walk away with up to $25,000. The competition, announced at the 3GSM World Congress, is asking developers to create mashups that merge telecommunications features with Web 2.0 applications. So, basically, calling for some applications that weave voice and text with mapping and search features. The winner doesn't only get their share of the prize money, from $2,500 to $25,000 in cash, but if their mashup gets scooped up and released by a telecommunications company the developer could see a chance to share in revenue that it generates.

The first stage of the competition set for March 6th will see developers creating storyboards with written or graphic ideas of their ideas to show to a panel of judges. The winners from this round will move to the second phase which is to build a prototype with winners being announced for June.