I'm feeling the urge to apply. I'm 49 years old, but a big believer in lifelong education. I also feel the urge to mention hammers in the "what tools do you like" box.
OK, a 20-something with less life experience may benefit more from the event than a 40-something, and be more likely to actually do a startup (having generally fewer commitments etc.), but hopefully they won't use age to rule people out if they have a technical background and genuine desire to do a startup even later in life.
I have no commitments. Though I might have different risk-tolerance. However I'm not entirely sure that's a bad thing.