Intel this week said it is offering as much as $1m (about £530,000) in prizes to the PC designer and maker that build the most stylish small computer optimised for multimedia use at home.

The design must feature Intel's Core 2 Duo processors and Viiv multimedia technology, the company says.

"Our intent with the Intel Core Processor Challenge is to think outside the box – think sexy, small and sleek PCs optimised for multimedia entertainment – and we're putting our money where our mouth is," said Eric Kim, vice-president and general manager for Intel's digital home group, in a statement.

The contest will include payouts for the mass production and marketing of the winning design. The judges will include Intel CEO Paul Otellini and GQ magazine's associate editor.

The winner is expected to be announced at the Intel Developer Forum in March in San Francisco.