You should do a TOMS model for this - as in, one person pays for the meal and chance to meet/greet with founders, developers, and SV leaders (unfortunately biased towards wealthier people). Then, you give away a "meal" to a person who applies with an essay or something and who's parents can't pick up the check on this opportunity.

Since the money's going to scholarships, the situation actually is something like that, except the latter parents get something better.

I think you should consider adding it to the auction page. It would probably make it clearer and help raise bids.