The lovely Anne-Marie, Director of the ACT Writers Centre passed on to me this competition info from Murdoch books:
Murdoch Books is on the hunt for an unpublished, funky new illustrator for an upcoming children’s title! $10,000 cash prize, plus naming rights on the cover… see PDF
The only downside is you have to design 3 monsters, and if you win you have to design even more. Who would want to do that?
… I expect at least half the people I know to apply.