The deadline for entry was December 31, 2005 so it is too late to enter (for this year at least). But go ahead and mix yourself a martini and browse the winning entries of Bombay Sapphire's "Designer Glass Competition" where artists submit one-of-a-kind martini glass designs to the gin company to win cash and prizes.
Now the "glass" here refers more to the container than the material (although all entries must have some glass in them) and you don't even really create the glass, you only submit the design. The finalists that are on display at the website, though, are intriguing and might inspire you to think a bit about where art meets function.