Knight News Challenge means well, but far from perfect or straightforward, read https://www.newschallenge.org/faq

What are the the IP terms of the News Challenge?

If you win, you’ll own your intellectual property. But under most funding mechanisms, you’ll be required to release what you make as open source (for software) or Creative Commons (for content and documentation). The only exception is companies in which we make an enterprise investment. Legalese detail: Grants to nonprofits have a strict requirement: any software developed with grant money must be released as open source (typically under GNU General Public License 3). The same is true for grants to for-profit companies. The business receiving a grant agrees to bind itself to the open source license it owns as if it were a licensee. If a Program Related Investment is made, only the initial release must be open source, and future versions can be licensed in different ways. At the end of the funding period, the company can pay back the funds it received or Knight can take a stake in the company. An Enterprise Fund equity investment has no open-source requirements.  

What is your definition of releasing as “open source”?

Software that is available for anyone to use or build upon at the conclusion of the grant period. You will own your platform, but you will have to share the software you develop under a GNU General Public License(GPL) (or other open source license, by agreement with us) and any content, documents, manuals or instructions under Creative Commons licensing. We consider exceptions to these requirements on a case-by-case basis.  

What is Knight Foundation’s IP licensing policy?

Knight Foundation’s intellectual property (IP) licensing policy seeks to use IP terms and conditions in its agreements that allow projects to achieve their highest possible impact and Knight’s highest social return on investment. This licensing policy also aims to increase the transparency of grant outcomes by allowing for greater sharing of knowledge and adoption among user communities. The specific type of license required by Knight Foundation depends on the type of IP being created, the type of organization receiving the support and the specific objectives of the project. In general, non-charitable organizations (for-profits or individuals) receiving a grant must use the most permissible IP licenses. In addition to licensing the IP, non-charitable organizations will also be licensees themselves and so subject to the terms of the license for any future versions of the IP. If non-charitable organizations receive a Program Related Investment (PRI) they are not required to be licensees.