Ashoka are a well run organisation, and many of the entries are inspired and help restore the faith. My experience of mentoring such groups in the past is that a) they put together a great entry b) they win something then c) they all get jobs in the city and the team disperses on graduation. Well, with less of those jobs I hope a positive of this crisis could be that the teams stick together and execute.
Don't know much about this competition, but from a quick review it looks like a great opportunity for the right early stage startups/hackers. Only about 90 total entries with a week until the deadline, so seems like decent odds.