There are several different categories. Applicants can ask for as much as they need to complete the project.
The invitation states,
Community-minded digital innovators worldwide -- journalists, software designers, bloggers, and students of any age -- have been competing in the News Challenge for up to $5 million dollars in grants.
The coolest part? The winner holds the intellectual property rights -- subject to Knight Foundationʼs requirement that the intellectual property be shared with the world. It's all a part of the Knight Foundation's open-source, open-standard philosophy.
Enough for now,