I’d study physics and genetics aiming for a breakthrough toward the meaning of life and the mysteries of the universe…
This link will help you to understand more about the submission requirements when submitting a logo design.
Personally i like the design you attached, but it’s way too clip art-ish. Make it more clean and flat, with less details. Also i would choose another font that fits better with the design. It’s just my personal opinion.
Why they also want to have a PSD file? Vector software is an Illustrator. Why they doesn’t talk about it? PSD is file from Photoshop. Rasterize softeare
They are saying OR, so if not EPS you must have at least PSD, but if you have EPS you don’t have to include the PSD.
I remember reading some time ago that the rule for icons submission had changed: “Icon packs should include at least more than X percent original work.” I think the portion was higher than 50% on the part of the original icons, but i don’t remember for sure. However you can include social icons, but your items should include original icons too. I hope i was clear enough.