The fund, "established as a serious alternative to the traditional publisher funding model," invests in games by small teams, in order to allow those teams to remain independent of publishers. "World of Goo cost $120K to develop," the application page notes. "Braid cost $180K. That's about the right size project for Indie Fund right now, and it necessitates doing things on the cheap." So, if your game concept is a realistic first-person shooter with MMO elements, get right out of there.