If you submit your writing to any of the reputable contests and fail to make the cut, try to keep things in perspective by remembering this: The list of talented writers who win contests pales in comparison to the list of talented writers who were rejected by those very same contests. This holds true for submitting to managers and agents, applying to film schools and industry jobs, along with fellowships and residencies. Rejection isn't just part of the game, it's proof that you're living a life. Most folks stand on the sidelines armed with nothing but their criticism. When people are on their deathbeds, they don't say, "I wish I was a better writer." They say, "I wish I tried to write." The act of starting and finishing a script is a victory onto itself.
While my breakthrough script was thought highly of by several people, it was summarily rejected by every contest I applied to.
If you're a talented writer, you can't give up. And do save your rejection letters, because one day, they'll be suitable for framing.