Just got this from Ivan Joseph, who leads this very cool effort:

The 2005 finalists have been announced for the Windows Embedded Student ChallengE! The top 30 teams from all over the world will be in Redmond June 17-18th, 2005 to compete for top honors. Assuming my new baby allows me time out of the house :) I'll have to swing by and check out the teams.

You can read more about the competition here.

Note this is separate from Imagine Cup - we just love running competitions for students, so you'll see LOTS of them going on at any given time.