No. You can save the information you have entered and continue with the application at the next login.
The application form has to be submitted prior to the essay and supporting documents submission. If you wish to start on your essay concurrently while completing your application form, you may do so and will be able to save your essay response by clicking the "save" button on the essay page. You will not be able to submit your essay until your application form is submitted.
The Scholarship application process is as follows:
Step 1: Submission of Application form and Video presentation
Step 2: Submission of Essay
Step 3: Submission of Supporting documents