If you have a serious and creative idea for an app that can help users more proactively and responsibly manage their finances, you have until August 13 to participate in the MyMoneyAppUpChallenge. In addition to applying your energy and vision to a good cause, more than $25,000 will be given to those who come up with the best ideas.
The MyMoneyAppUp Challenge, which is sponsored by the U.S. Treasury Department along with the D2D Fund and the Center for Financial Services Innovation, is designed to motivate entrepreneurs, app developers and interested citizens with good ideas to develop mobile apps that promote financial literacy. You need not be an engineer to contribute, and prizes are awarded for the best ideas and design proposals.
Here is more information about the Challenge.
If you are interested in submitting an idea, explain in 140 characters or less how an app could “help Americans control and shape their financial future” to the IdeaBank set up by the Challenge. Design proposals that are 3-to-5 pages in length are accepted online upon registration.
An all-star panel of judges including Chris Bishko (Director of Investments, Omidyar Network), Jean Chatzky (Personal Finance contributor to the Today Show) and Harvard University Economics professor Sendhil Mullainathan will decide who wins one of five prizes that range from $10,000 to $2,500.
Judging will take place between August 13 and 19, and the winners will be announced on September 20.
More information about the contest can be found at http://mymoneyappup.challenge.gov.