Sorry for the plug but I thought some of you guys might find this of interest.
They are looking for a team of college students to submit proposals [not entire games] of Flash games based on their freestyle motocross event that takes place in a bull ring. The team with the best proposal gets a fully furnished and teched out creative studio built out for them right near their campus. You get to use this space 24 hours a day to complete the entire game with the assistance of some of the top Flash developers in the country [check out their list of panelists on the site].
You still own your game after completing it. Red Bull just wants to be able to use it on their site. Seems like they are trying top position this as a networking and career building experience.