You should. Don't over think it. By participating, you get the following:

1. A good feedback mechanism on what you are working on.

2. Social pressure to increase motivation.

3. Time box yourself to accelerate production.

You get these things just by participating. If you win the game and reach a funding opportunity, you can ask yourself the next question. For now, just being able to produce and benefit from those three things are invaluable.

And it's free.