A new photography competition has been launched that offers amateur photographers the chance to win £5000 and have their work showcased alongside some of the world's greatest photographers in an exhibition.

The competition, set up by photo agency Magnum Photos and the makers of Tanqueray Gin, challenges photographers to capture their interpretation of a "Taste for Life" - the name of the exhibition in which ten winning photos will feature.

To help guide entrants there are six categories to enter, covering adventure, relationships, glamour, cocktails, achievements, festivals and celebrations.

All entrants will be judged by a panel of experts including Magnum Photo's president Stuart Franklin, and the editor of successful men’s magazine Esquire, Jeremy Longmead. These experts will be joined by a representative from photo-sharing website Flickr, and Tanqueray gin.

A shortlist of 40 entries will be selected for the final judging process and all pictures will also be put forward for flickr users to vote for a People’s Choice, and feature in the exhibition.

To help the entrants get inspired, Stuart Franklin has captured a few of his own "Taste for Life" images, which can be viewed on the competition website from 16 February when the competition opens.