FinLab Application – Logistics & Tips

Financial Solutions Lab

We are excited to open our application for third class of innovators. Check out our Challenge page or this post for more information about the types of solutions we are seeking for the Lab. This post is focused on the mechanics of applying.

In this short video, we describe how we review applications, which may help guide how you approach you application.

 

Criteria

We will select organizations based on the organization’s fit with the program that we define as the following.

  • Consumer Impact: Product or service improve financial health of American consumers
  • Quality of Product: Product or service aligns with CFSI’s Compass Principles
  • Management team: Huge ambition and the technical capability to achieve it
  • Scalability: Product or service has the potential to serve a national market
  • Degree of innovativeness: Represents a new idea or is a significant improvement over existing products
  • Engagement: Team demonstrates a desire to take advantage of the Lab’s resources

Timeline

Here is a high-level summary of our timeline.

  • February 7 – Begin accepting applications
  • March 16 – First application deadline
  • Early April – First round finalists interviews and pitches
  • April 27 – Second application deadline
  • Mid May – Second round finalists interviews and pitches
  • June 15-16 – Public announcement of winners at CFSI’s EMERGE: Consumer Financial Health Forum
  • June 2017 – February 2018 – FinLab Program

Two deadlines

In order to ensure that we have adequate time to review all of the applications to the Lab, this year we will have two application deadlines. Those applications that are received by March 16, will be reviewed in late March to early April. Those received by April 27 will be reviewed in early May.

There may be a slight advantage to applying early, simply because there are the most spots available in the beginning of the process rather than the end.

More info

Additional information is available in our FAQs, Program Rules, and Participant Agreement. If you have questions, feel free to reach out: finlab@cfsinnovation.com.

 

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