This just in, fresh from my return from the annual SCBWI conference. I adore anything that supports unpublished writers trying to break in. This award in particular would have been something I would have jumped on before I got published.  From their press release:

The Society of Children’s Book Writers and Illustrators (SCBWI) announced the creation of the On-The-Verge Emerging Voices Award at their 41stAnnual Conference in Los Angeles.