ConfirmU - Orientation week challenge

By: Dor Linhard

The first week on campus at Reichmann University, otherwise known as Orientation Week, is a unique opportunity for first-year students to be exposed to the various elements of the University as well as a glimpse into the life of the students themselves. As part of our introduction to the entrepreneurship track, we were welcomed by the faculty with a certain challenge. We were introduced to a start-up called, ConfirmU, whereby the CEO of the company presented us with the background and general idea of the company.

ConfirmU is a company that provides credit scores to certain populations that lack the ability to receive a proper credit score and are therefore not eligible to receive loans. The company does this through an interactive mini-game that translates one’s choice to certain attributes whereby they are able to build one’s character and calculate a matching credit score. Thereafter we were tasked with finding new relevant markets that the company had not reached yet and created new avenues to be able to reach them.

Since we did not want to limit ourselves to a certain region, we chose rather reach certain age groups. Seeing the potential of the younger population and the lack of resources available to them, we decided to focus on people aged 16-23. With the assumption that this age group relies heavily on technology as a part of their everyday lives, we concluded that they would most likely make use of banking applications. In line with this assumption, we decided to implement this mini-game into the profile creation which is part of the process of signing up with the bank application. This way it provides everyone, no matter their financial status, with a proper credit score.

Secondly, by utilizing the application, Tik Tok, which is heavily used by the previously mentioned target market, we would be able to create a trend and passively reach a large number of the target market. This will be done by using an adaption of ConfirmU’s mini-game together with the latest trends on Tik Tok.

We were expected to present the idea, with minimal preparation and time to the faculty, classmates, and the founder of ConfirmU. The challenge forced us to place ourselves in the entrepreneur’s shoes which is merely the beginning of what we will be expected to deal with in the coming years. This as well as Orientation Week as a whole gave us a glimpse into the degree, and the challenges we will face, and made us eager and passionate to discover what the upcoming first year has in store.