To be considered, the Kickstarter has to start before August 9th, 2013; and it of course has to be successfully funded and fully developed and released by August 10th, 2014. In order to be considered, the Kickstarter funding for the game/project must rake in at least $50K in crowd source funding in order to be considered for the Free the Games Fund initiative.
If selected, Ouya will match the funds up to $250,000; and for the developer that raises the most Kickstarter funding for their project, Ouya is making an additional $100,000 bonus available. Of course, the games have to be for the Ouya, so there is that little catch, but there is a large market out there for Ouya titles with the numbers of the console that Ouya has sold.