It can be something you haven't yet started, something you're currently working on, or something you want to finish. The main requirement is you should be able to produce some kind of output (a demo, a paper, etc.) within ~3-6 months.
ok that's helpful thank you. Is there someone in your office whom I may contact for more questions? Perhaps over a call.
I'm not a recipient of the grant but I just pinged a staff member to reply to your question.