Well, if you come up with a new type of contest (one that differs from the usual Comic Contest), something like the Comic Cup, the Tag-Team Cup of the Mystery Cup.
Maybe something like a Comic League or a Knockout Deathmatch Comic Tournament, then yes, by all means, put in the effort of setting the thing up and maintaining it until it finally ends (you may want to check out the last Tag-Team cup before doing so).
However, if you've just thought of some cool rules for a new contest, then chances are no-one is going to enter because you haven't won the preceeding CC.
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Dad was flammable