The British Design Council, the Home Office and the Technology Strategy Board have launched a competition that's encouraging designers to develop new ways of securing mobile phones against theft and fraud. The Mobile Phone Security Challenge is offering a total of £400,000 - four £100,000 prizes - to designers and technology experts who come up with new ways of securing handsets, the data they contain, and the additional value they'll have when mobile payments are introduced in the UK. Entrants are being asked to produce market-ready applications that'll be showcased and promoted by early 2010. [Design Council]