Keywords and ideas for this logo are: Competition, Design Tools, Awards, Community.
Design must be Simple, Memorable and Symbolic.
Colours: Font should be white or light grey. Colours should not be simple like 100% orange or 100% green, they should be unusual, interesting, soft and deep, BUT not pale. (Examples of colours look in the comments section in the "Brief Update" comment.)
Title of the logo should be Memorable and Simple, so that people would read it easily without any effort.
Symbol should not be above the logo, though it possibly can be around it.
Also, please do not use the pen tool as a symbol.