If you like one of the business idea you receive, then : 

1. Just reply to the email announcing the project to tell me you are interested in giving it a go. I'll leave usually a week or two and then connect the interested people via email so you can form a small group (typically 2-4 people)
2. One of our Advisory board member will then brief you in more details via a skype videochat. You'll take 2 weeks to iterate on the business idea together (I'll let you self-organize yourselves - and I'll tell you why its important)
3. Don't write more than a 3 page Word document : No template here (and here as well, I'll tell you why its important), just write down in plain English the result of your research and concept iterations (describing the problem you are trying to solve, your proposed solution, the business model, the size of the market you are addressing, and the go to market. )
4. Then we'll have a final session over Skype again, so you can present your findings and recommendation and we can challenge you. In total, this typically represents between 5 to 10 hours of work per person.

After this, anything can happen : From nothing (if the idea turned out to be unworkable, if no one is excited enough to start it,..), to publishing your paper on the site - or elsewhere (some use this a source of ideas for their MBA final year project), to actually starting a proper business.

Speak soon, and onwards now!