NASA Strong Tether Competition Set for August 12th

The NASA Strong Tether competition will be held on Friday, August 12th at the annual Space Elevator Conference being held at the Microsoft Conference Centre in Redmond, Washington. As part of its Centennial Challenges program, NASA has put up a $2 Million prize purse for tethers that can meet certain specific strength benchmarks. To this point no one has been able to win this prize. Could this years competition be the year someone wins?
The rules for the competition can be found at the Spaceward Foundation website who manage the competition while more information about the NASA Centennial Challenges program is available here.