The Independent Games Festival is a contest where small game developers compete in a variety of categories to see who can create a great game on a relatively small budget.
This year, there's 110 entries with the average "budget" being only $5,800. From previous year's experience, the entries are often quite impressive.
But don't take our word for it, you can try some of these games out yourself: 2004 Entry Downloads
News source: IGF