The prizes are excellent, 5,000 euros for the accessories design prize and 10,000 euros for the YKK Award.
Website is here http://www.itsweb.org/jsp/en/index/index.jsp
This is pretty much the Footwear Designer competition of the year (the other one being the Footwear Friends Award) and has been won in the past by fantastic new shoe designers who went on to become well known and successful in their field.
Here's another shoe design competition, this time from zappos.com in conjunciton with Steve Madden.