Iron DM is a glorified writing contest for Dungeon Masters....I think it started out as a Rat Bastard DM Club event in 2002? Contestants are given a list of ingredients, a word count, and 48 hours, and must write an adventure that uses them all. It's challenging, but it's also a lot of fun. (And it's a great way to sharpen your creative writing skills, while getting some free written adventures from the other contestants.)
I've participated in a few of them, and I emcee'd the 2010 one, but I've never won. The official write-up is here.