Yes, it's"one of only five" is grammatically correct. "OnlySo is "one of the only five" in this context means that five proposals were accepted. The word "only" can be an adverb or an adjective, and no othersdepending on what it modifies.
Only We use adjective [attributive]only 1 Alone of its as an adjective to mean that there is just one or their kind; singlevery few of something, or solitarythat there are no others:
- He was the only person in the room.
We use From "More example sentences": It's always a good sign when you can recognise almost every single track from only one repeat.only - ODO as an adverb to mean that something is limited to some people, things, an amount or an activity:
- Only a few hundred houses survived the hurricane without any damage.
It is idiomatic to say "one of only five that had been accepted". You can say "one of the few ...", but "one ofWhether the only five ..." is not idiomatic.present or absent, your sentence has the sense that
- many proposals were submitted;
- you submitted one proposal;
- five proposals were accepted; and
- yours was one of the five proposals that were accepted.
As @BillJ notes, the structure of the phrase "one of the only five" suggests you are claiming the whole group of five to be yours, but the context and specifics invalidate The question that interpretation. An example of this structure is the phrase "one ofremains relates to the only families"difference between
- one of only five that were accepted; and
- one of the only five that were accepted.
In both cases, where the oneonly is a whole familyused to indicate that there are very few of something, not simply a familyso both use memberonly as an adjective. Note, however, that familiesThere is plural.
Now, the following sounds fine:
The only five websites you need to find a job in development - International NGO Jobs
So why does "one of the only five that had been accepted" sound awkward?a nuanced difference between the two cases.
I think it has to do with intent. In the websites quote#1, the authoremphasis is claiming that there is a definitive groupyour proposal was one of five websites to considervery few that were accepted. In your proposal quote
In #2, the focusemphasis is onthat yours was within the small number of proposalsset that was accepted, not on the definitive group of five. The definite article shifts the focus from the size of the group to the group itself. It doesn't make the sentence ungrammatical, but it may convey a slightly different picture, one at odds with the sentence as a whole.