ICANN has revealed some details on new gTLD program. One of the points is that in case all applications are to undergo initial evaluation at the same time, the first gTLDs could appear in late third quarter of 2013. The Initial Evaluation phase is to be completed by June-July next year.
ICANN estimates that about 90% of all applications will require some clarification questions (CQs) to be asked, and nearly all the applications will require additional information before the applications pass. With that in mind, ICANN notes that "a very high majority of the applications are expected to pass the initial evaluation". The GAC has stated that it "is considering the implications of providing any GAC advice on gTLD applications. These considerations are not expected to be finalized befort the Beijing meeting in April 2013".
At the moment, the initial evaluation is underway, and the applications are distributed over evaluation panels. All applications now undergo string similarity, DNS stability and geographic names similarity evaluation, with 342 applications under financial and technical assessment. Applications are being distributed in a way that takes advantage of similarities among applications, either because applications are from the same applicant or have the same back-end providers. However, all applications will undergo a complete evaluation.
ICANN has recently published a new gTLD status update with more information on the program.