Solve-a-thon at MIT Overview
The Solve-a-thon at MIT has now concluded. This event was hosted by MIT’s Solve program and MIT Technology Review, sponsored by WorldQuant and powered by WorldQuant’s WebSim platform. Over 700 contestants in the US representing 140+ universities and colleges participated and competed for cash prizes distributed by MIT. Congratulations to all who competed successfully and, as well, those who will be joining the US-based team of Research Consultants!
The overall winner, Song W. from New York representing Baruch College, earned the top prize of $10,000 by obtaining a score over 100,000 in 2 months. Congratulations, Song !
Participants in the Solve-a-thon at MIT had the privilege of participating in free training sessions and other educational events to learn about finance, alphas and building predictive models. Many participants with STEM backgrounds left the competition with a firmer grasp on how to utilize their quantitative skills in the world of investment finance. If you participated and did not earn a cash prize, don’t worry -- you can still continue building alphas and improving your scores to potentially earn a spot on the Research Consultant team.
If you missed participating in the Solve-a-thon at MIT, there is good news—the WorldQuant Challenge is a year-round event and you can participate today. We are planning similar incentive-based events in the future for both US and international candidates!
Solve-a-thon at MIT Rules
- The Solve-a-thon at MIT is organized and administered by MIT Technology Review and will run from December 14, 2015, 00:00 UTC through February 14, 2016, 23:59 UTC (the “Solve-a-thon Period”).
- The top scorer in the Solve-a-thon above 100,000 points, based solely on qualifying alphas submitted during the Solve-a-thon Period, will receive a cash prize of USD $10,000 to be distributed by MIT.
- The following ten (10) top scorers above 10,000 points, based solely on qualifying alphas submitted during the Solve-a-thon Period, will receive a cash prize of $2,500 to be distributed by MIT.
- The following twenty-five (25) top scorers above 10,000 points, based solely on qualifying alphas submitted during the Solve-a-thon Period, will receive a cash prize of $1,000 to be distributed by MIT.
- The payment of all of the above prizes will be subject to withholding and payment of applicable taxes as required by applicable laws and regulations. Limit one (1) prize per person. Prizes cannot be transferred or substituted by winners. Each winner may be required to fill out and deliver an affidavit certifying certain information about them.
- Rankings will be based on a participant’s total score, which may go up or down depending upon the performance of the alphas on most recent data.
- A snapshot of alphas will be taken as of the close of the Solve-a-thon, which will be used for final scoring.
- All participants must be registered WebSim users over eighteen (18) years of age who are legal residents of the fifty (50) United States or the District of Columbia and not prohibited by any legal obligation or college/university, employer or other policy from participating in the Solve-a-thon at MIT.