For the past two years, Australians have proven their ingenuity by winning the James Dyson Award competition, coming up with gadgets and inventions that could potentially change the way we live. Now entering its eighth year, we’re hoping for a third Aussie win.

Geared at people looking to make a difference the James Dyson Awards have opened up for another year, awaiting entries from students with great ideas hoping to make a difference.

Last year, Melbourne’s Edward Linacre won with the “Airdrop”, a device that could extract water from air and potentially change life for farmers affected by drought.

The year before that, Sydney’s Samuel Adeloju won with the Longreach Buoyancy Lifesaving Aid (below), a gadget that fires life rings into the sea to stop people from drowning when rescue crews are working to save them.

With entries opening up on February 3 and closing August 2, the Dyson Award offers designers and engineers the chance to come up with a gadget that could change the world.

A £10,000 prize is part of the package, not to mention the amount of good winning probably does to a resume.

Samuel Adeloju with his prize winning invention in the 2010 James Dyson Awards.