Samsung recently launched a platform for independent developers called Gear Indie, which is available exclusively to its Gear VR headset and offers a number of incentives for developers. Gear Indie is a part of Samsung's Milk VR virtual reality marketplace.

The company has just announced its first competition for Gear Indie, called "There in 60 Seconds." The competition essentially challenges emerging virtual reality filmmakers to create immersive 360-degree virtual reality films. The prize? A cool $10,000 in cash, plus their content featured on Gear Indie.

The competition opens on Nov. 1, and the top five submissions will be announced on Dec.15. There will be three mentors on the project, including Jason Rubin, head of Worldwide Studios for Oculus; Nancy Bennett, chief content officer at Two Bit Circus; and Anthony Batt, executive vice president of WEVR.

The competition is part of a big push by tech companies for media using virtual reality, and it is likely that we will continue to see developers and filmmakers get offered incentives for the development of films and games in virtual reality.

The competition is only the first of what is expected to be a number of competitions offered by Samsung in its virtual reality efforts. Through these competitions, Samsung is also offering mentorship programs that will pair developers with more prominent figures in the virtual reality industry.