Reminder for all of us that may not have gotten the award or HM: this award does not define your worth as a scientist. You can still be a successful scientist without be recognized as 'exceptional' early in your academic career. Plenty of successful scientists did not receive this award during their early career, yet that did not stop them.
Additionally, all that time you spend on writing that grant does not go to waste! Now you have more experience writing and that will make your next application a little easier. Let this motivate you to keep trying and striving toward your goals, even with a bump in the road.