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"On March 17, we, with the help of a number of outside advisers, will begin to review the applications. By mid-April, we will have a set of finalists, who will then be asked a deeper set of questions. We’ll announce the winners at the MIT-Knight Civic Media conference on June 18. We expect to issue 4-6 awards. (Depending on your project and your structure, we can issue the funds as grants, loans or investments.) News Challenge awards have ranged between $10,000 and $1 million. Last year’s Knight News Challenge winners received an average of $294,000.

In addition to the money, winners will join our network of media innovators. Some of their work was featured at the recent NICAR conference in St. Louis, including Knight News Challenge-supported projects such as OverviewPandaDocument Cloud and ScraperWiki, along with other Knight-supported projects such as OpenNews, our collaboration with the Mozilla Foundation. Others will be showing their work at the Knight exhibition space at SXSW Interactive next month.”

—http://newschallenge.tumblr.com/post/18383211809/knight-news-challenge-on-networks-opens-your-shot-at-a

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