I'd never heard of Awesome Foundation, sounds cool though.

Obviously $1K is not a lot of money to build a company, but the goal is to get people over the mental hurdles that are stopping them and hopefully get them to a place where they're making money online.

I'm a YC alumni so I'm influenced by that, but the idea is lifted from Scale Well in Chicago: http://scalewell.com/

The winner of the first Scale Well grant used it to refine his synthesizer, and he now sells Beep It on etsy: http://www.etsy.com/view_listing.php?listing_id=25223176