I don't get it? At first I thought you write an application and if its good enough you get 5k to explore it, but on the get started page is suggests you have to

I don't get it? At first I thought you write an application and if its good enough you get 5k to explore it, but on the get started page is suggests you have to work on the project for weeks and submit updates every Sunday. How much work do you have to do to join the competition?