In addition to the Changemakers Terms and Conditions, the [Financial Wellbeing Challenge Name] also has the additional clauses:
1. Submission of entries
Entries must be submitted by the entry deadline: 5:00 PM EST on June 6, 2018. You may continue to edit and modify your entry up until this deadline.
2. Due Diligence
Finalists will be asked to submit additional information on their organization and its operations to be analyzed in our due diligence process. This is a standard procedure to confirm that the organization will be eligible to receive prize funding in case it is selected as a winner of this challenge. Ashoka’s due diligence process is run in partnership with Latham & Watkins.
3. Disqualification of entries
Ashoka and BNY Mellon reserve the right to disqualify entries if they do not comply with the eligibility criteria or are not in accordance with the terms and conditions of use.
Ashoka and BNY Mellon are responsible for conducting the evaluation of entries following the Challenge Eligibility and Criteria. This process will happen in three stages:
1) Screening & Community Review
There will be two parallel review processes happening from June 7-20, one done by you and your peers, providing feedback and publicly evaluating each other’s work, and another one done by Ashoka and selected network partners who will also evaluate all entries. Each group’s average evaluation score will be added and weighted 50/50 to influence the final score of the entry. The final score will be used to inform decisions in the screening panel organized by the challenge core team to define the group of semifinalists moving to the next phase of the challenge.
This phase follows the Refining Period, where semifinalists can edit their entries, answer additional questions and incorporate feedback received from the screening phase. During the shortlisting phase, from July 12- August 3, a group of BNY Mellon employees and Ashoka staff will review the updated semifinalists entries and evaluate them. The scores and comments from these reviews will then inform decisions in the shortlisting panel, where both Ashoka and BNY Mellon staff will define the group of finalists moving to the next phase of the challenge.
A group of selected judges, from different backgrounds and who have expertise in the Financial Wellbeing sector, will review and evaluate the finalists projects. The scores from their evaluations will guide them during the Judges panel discussion to define the winning initiatives.