You can't base your potential to contribute on contests like these. I know it feels bad (even terrible). I've been rejected and then on waiting lists and gotten nothing plenty of times, a couple of times from Ford. Academia is "NO" nine times out of ten when you think of conferences, publications, funding and then the market. This one didn't work out so we prep and improve the next one. Regional contests and even those at your own institution may rank you first place with the same application.
Take a day to be sad, peruse your alumni association's job listings for jobs outside academia, join Versatile PhD, vent anonymously on GradCafe... But remember that this career path is not the only option. AND you don't need to win a Ford to do well here.
Let it out. Then, chin up and onward.