The Twilio Developer Contest is a recurring event that encourages developers to try Twilio for different use cases, industries, and integrations. The current contest focuses on location-based apps, with the deadline being Sunday August 30th. To participate, developers can submit their projects or ideas, which will be judged based on creativity, helpful materials, and potential business value. Previous non-winners are eligible to resubmit, and the contest aims to reward developers' efforts and help them find success with Twilio's cloud communications platform.