Photo comps are great , but people tend to loose interest after a few months & it may well end up with no one bothering there arse tho submit entry's which is a shame
As for prizes well i am sure theres lots on here prepared to donate prizes but you have to think about postage costs to send the stuff & who pays it , I honestly think a one off collections the best way & do a pic comp with no prizes & as a lasting tribute to Craig name a sub forum in his honor that way he is still permanently remembered on here as he should be
Just my humble opinion for what its worth