The Treasury Department on Tuesday said that employees of Google (GOOG) and Facebook (FB) would help it select the best ideas for new mobile applications.
The MyMoneyAppUp contest offers cash prizes to companies and people who design mobile apps that will improve the financial services available to Americans. The Treasury Department sponsors the contest in partnership with the Doorways to Dreams (D2D) Fund and the non-profit Center for Financial Services Innovation. (MyMoneyAppUp.Challenge.gov)
The contest will be judged by technology, payments and personal-finance experts, the partners said Tuesday. The judges include: Chris Bishko, director of investments at Omidyar Network, a philanthropic investment firm; personal-finance journalist Jean Chatzky; Katie Burke Mitic, director of platform marketing at Facebook; Sendhil Mullainathan, a professor of economics at Harvard University; banking and mobile payments entrepreneur Carol Realini and Jonathan Weiner, who works in business development for payments at Google.
The judges will select a grand prize winner, two runners-up, and two honorable mentions. The prizes range from $2,500 to $10,000.
The contest is funded by the Ford Foundation, Omidyar Network and the Citi Foundation.
