Not only will the winners of the inaugural Interior Awards take home bespoke trophies designed by leading architectural model maker Minka Ip of architecture + design fabrication workshop, but also there is $7000 in prize money to be won.

Not happy with the traditional giant winners cheque, we approached Youmans Capsules who have donated an A4 and A2 capsule (valued at $1,500 and $500 respectively), for the winners to take away their haul in. So if bragging rights, $7,000 cash, having your project published and promoted by an multi-award-winning publishing company is not enough, you can also have your own 21st century briefcase to show off your latest design concepts.

Remember, you must have your entry in no later than April 20. Entries cost only $125 and entry into the Emerging Design Practice is free once you have entered a project in one of the main catergories. To see what the judges are looking for, see their video responses here.

Enter the Interior Awards 2012 now.