Google released today the promised early look at the Android SDK and set out a huge prize money for an Android developer challenge.

The Android Developer Challenge is handing out $10 million in awards. Specifically the money will be split between two challenges.
The Android Developer Challenge I is accepting submissions from January 2nd through March 3rd, 2008.
The Android Developer Challenge II is going to launch after the first handsets built on the platform become available in the second half of 2008.

In the Android Developer Challenge I, the 50 most promising entries received by March 3rd will each receive a $25,000 award to fund further development. Those selected will then be eligible for even greater recognition via ten $275,000 awards and ten $100,000 awards.

Google has tons of cash and here they put it to great use. Happy programming.
More details on the Android site.