Launched in April 2011, the $300 House project aims to "design a simple dwelling that can be constructed for under $300 which keeps a family safe, allows them to sleep at night, gives them both protection from the elements and a sense of dignity," according to the project's founders.

The $300 House project began as a challenge to businesses in a Harvard Business Review blog post by Dartmouth professor Vijay Govindarajan and co-author Christian Sarkar, an independent business consultant. The goal: to put decent housing within reach of the world's poorest 2 billion people.

"We want designers and architects to see this as a business opportunity, not as a charity case study", says Govindarajan. "This design challenge will help us get some innovative people to focus on a vast un-served market waiting to be created across the world." 

Prizes worth a total of US$25,000 will be awarded to winners, including a two-week workshop to build prototypes of the houses, and to set up social ventures to manufacture and distribute them.

Submissions to the competition must be made by May 26, 2011. For more information visit http://www.300house.com/