The IOT2020 is an Intel Quark based controller (running Yocto Linux), packaged into an industry standard, DIN-rail mountable case, designed to enable your project to morph directly into a product by providing a unit which is already FCC approved. The main requirement for the competition is that your entry be based around the IOT2020, but the nice thing is that they are actually giving away ten of the units in the opening round, so all you need to do is submit an idea and you could win an IOT2020 to play with and also have a chance at the grand prize.
Peter Oakes (who is promoting the competition) does specifically mention ESP8266-based projects as being a prime example of where this unit might be used (as, for instance, a gateway between a local network of ESP8266 modules and the internet).
Currently there are only about seventy entries registered, so those are pretty good odds. If you have an idea for an IOT device that you think would sell as a product, you’re not going to lose anything (other than the element of surprise) by entering.