Challenge Rules & Guidelines

Challenge Timeline:

Monday September 11th, 8 AM EST

Team Registration Opens

Wednesday September 20th, 11:59:59 PM EST

Team Registration Closes

Round One Submission Opens

Thursday September 21st, 12 PM EST

Round One Submission Deadline

Monday September 25th, 6 AM EST

Round One Judging

Tuesday September 26th - Thursday September 28th

Advancing Teams Announced

Friday September 29th

Pitch Day

Saturday October 7th, 10 AM EST

Winners Announced

EOD Tuesday October 7th

Challenge Rules:


  • All participants must:
    • Be at least 18 years of age (or at least the age of majority in the student’s jurisdiction of residence, whichever is older)
    • A current student at CMU (either full time or part time)
  • All undergraduate, graduate, masters, and Ph.D. students are welcome to participate
  • Teams:
    • Can be comprised of 1 to 5 people
  • Must select one person to serve as the Team Captain, who will receive updates
  • Can consist of students from any and all schools within CMU
  • Students can only be a member of one team



  • Registration is in two phases:
    • Phase 1: One individual (presumably the Captain) will register the team name and the email addresses of all team participants
    • Phase 2: Each participant submitted in Part 1 will receive an email with a link to the Team Member Registration Form
  • Registration opens on September 11th, 2017 at 8:00 AM EST.
  • Both the Team Registration and Team Member Registration forms must be completed by 11:59:59 PM EST on September 20th, 2017
  • Team composition may not be changed once the Team Registration Deadline has passed


Round 1: Submit Ideas

  • Participants are asked to submit an idea, through a portal, in the area of financial technology.
  • Ideas can fall into one of six categories:
    • Applications of machine learning
    • Social Finance
    • Personalization of Products and Services
    • Blockchain
    • Credit Scoring and Risk Analysis
    • Wild Card (Open fintech application)
  • The Round 1 Submission form accepts
    • Up to 3 files in PDF format (max size is 1GB per file)
    • Up to 2 URLs (e.g., link to video at Vimeo/YouTube, Dropbox link, Prezi link, etc)
    • Text field for notes to explain submission
  • Evaluation is based on the following criteria:
    • The novelty and creativity of the idea
    • The technical sophistication of the idea
    • The business merit of the idea
  • The top teams, will advance to Round 2.
  • Team captains will be notificied whether their teams are proceeding to Round 2 on the morning of September 29th, 2017.
  • numo may provide feedback or questions from the Round 1 Judging with the expectation that teams advancing to Round 2 will address these items during their presentation in Round 2.


Round 2: In-Person Presentation

  • Teams advancing to Round 2 will be asked to give in-person presentations at the numo headquarters on October 7th, 2017.
  • Teams will be given 10 minutes to present their ideas, with 5 minutes at the end for questions
  • Round 2 judging will be based upon the same criteria as Round 1 as well as
    • The teams ability to present ideas clearly
    • How well the team addressed Round 1 questions and feedback
    • The teams responses during the Q&A session
  • Announcement of the winning teams will be sent to the team Captains by October 10, 2017.