The Third Coast Festival also runs a shortform audio competition called Radio Ephemera.
http://www.thirdcoastfestival.org/shortdocs_2008_archive_about_RE.asp

Entries can be documentary or fiction, or a hybrid of the two. And there seems to be a trip to Chicago for the winners...

The Third Coast Festival (www.thirdcoastfestival.org/) is held annually in Chicago to celebrate and showcase all forms of audio work.

They've commissioned five short "phone plays" which are well worth a listen at http://www.thirdcoastfestival.org/audio_library.asp

More info on the plays:
WAIT FOR THE BEEP
A collaboration with Steppenwolf Theatre to create a
series of mysterious "phone plays"

Imagine this scenario: A cell phone rings and the owner is no where in sight...
so you pick it up. You see that there are unheard messages and, driven by curiosity,