The next important step is the selection of participating orgs by Google, the results will be published March 18th. It then continues with the student application period from March 28th to April 8th. So, if you are currently a student, mark that date!
Of course now is already the perfect time to start thinking about your personal project idea if you would love to work on his or her favorite CMS with a stipend from Google this summer!
Get in touch with the community, explore the system, ask for help with anything to get you up to speed before the program starts. We are all friendly people looking forward to your questions!