Here you are expected to synthesize something of your own, broadly in the area of computational/mathematical biology. This can be meaningful extension and analysis of the existing model(s), or a thorough review of a particular area in terms of its history, development and current status, or any artwork (painting/infographic/poem/dialogue, etc) that improves understanding of a topic/topics substantially.
For this, I shall be looking for (i)novel ideas, (ii) thorough work, and (iii) clear articulation of the results and their implications in pedagogy or real-world scenarios. Equal weightage for the three above qualities can be considered as a grading rubric.
The best few work can be presented in an institute-wide event, if I can manage to arrange one in due time.