GSoC2012 has been announced . The timeline for the initiative is up
as well . Relevant next dates are:
* February 27 19:00 UTC:
Mentoring organizations can begin submitting applications to Google.
* March 9 23:00 UTC
Mentoring organization application deadline.
* March 12-15:
Google program administrators review organization applications.
* March 16 19:00 UTC
List of accepted mentoring organizations published on the Google
Summer of Code 2012 site.
As you all know, last year our application was unsuccessful, which is
why I'd like us all to collaborate on putting Ubuntu's application as a
mentoring organisation together.
As far as I recall the particular point which was problematic the last
time was a lack of distinct project ideas. Pointing to Ubuntu Brainstorm
or a list of unfinished blueprints is not enough. We need a list of
project ideas we'd be willing to mentor.
There is a check list of things available we need to answer to be able
to apply. 
Please help filling out our application. This is important.