Science Fiction Quarterly (SFQuarterly.net) is a brand new online science fiction magazine that is currently accepting submissions for its premier issue, scheduled for a March debut.  They are looking for short stories, reviews, and "think pieces" -- essays on the genre.  The magazine, in the classic sci-fi "short story tradition," is especially interested in working with new and inexperienced writers to bring their vision to publication.  The submissions guidelines are worth reading for any aspiring writer.

I emailed the editor, Glover Wright, and asked whether they were interested in stories in the fantasy genre.  He responded by saying that while they were not interested in straight fantasy, they would be willing to publish fantasy with science fiction elements and "fantasy that relies more on hypotheticals than, say, magic."

For aspiring writers in these genres, it doesn't get much better than an up-and-coming publication ready and willing to make room for new authors.

Be sure to read their blog for the latest news.