Hi hmexx - sounds like a great idea - like a mini MVP incubator! 2 things:

1. could you at least say where you are based, I take it the US if you are offering $

2. after all the dust has settled would you be so kind as to repost and say how many applicants you got (perhaps broken down by idea sector) as I'm sure lots of people here would find this info useful/interesting

Don't forget London Open Coffee - http://www.meetup.com/londonocc/ if only for the mailing list :-)