What's the money for? It's cash, for you to use to develop your open-sourced idea or concept. Make something, and make the design and details open and available to others; that's it.
The 2018 Hackaday Prize consists of multiple challenges (of which an entry can enter more than one) which run in sequence one after the other. Twenty finalists from each will receive $1000 cash, and will go on to the final round where the following prizes are up for grabs:
- Grand Prize: $50,000
- Second Prize: $20,000
- Third Prize: $15,000
- Fourth Prize: $10,000
- Fifth Prize: $5,000
All you really need to get started and entered is an idea and some documentation. So if you have an idea rattling that has been on the back burner waiting for an opportunity, this is it.