The Berlin-based literary journal SAND is holding a translation competition, in conjunction with Youth in Action - hence the age limit.
Here's what they say:
The Rules: Submit an original English translation of another work (you must have permission from the author and/or publisher). The original piece may be in any language, from Urdu to Russian to Chinese. Our panel of judges will be basing their decision on the quality of your translation. Because we’re working with Youth in Action, you do need to be under the age of 30 to be eligible for the competition. (However, if you are over 30, you are still free to submit works under the regular submission guidelines.)
The Reward: There will be two winners, one for poetry and one for prose. Each winner will receive 150€ as well as publication in SAND.
The Workshop: Both winners and 8 runners up will be selected to participate in a translation workshop held in Berlin.* In the workshop, we’ll talk about the art of translation, your own translation and what it means to write, speak and live in multiple languages. The workshop will be led by some of our jurors and/or experts in the field and will be held in English. Of course it’s not all work – we promise a Berlin-style party with translation themed cocktails. (We don’t know what that means yet, but we’ll think of something good…)
*If you’re coming from outside the city, SAND will cover travel expenses up to a certain point.
Just a wee pointer from me: If you've never done this kind of thing before, take a look at the "Translators' Tips" at no man's land, where Isabel Cole has some useful advice about obtaining permissions.