Microsoft Excel World Championship 2023

COMPETITION RULES

(hereinafter referred to as the “Rules”)

These Rules are effective from January 1, 2023.

Please read these Competition Rules carefully. You should review all our legal documents before participating in any Competition. If you do not accept these Rules or any of our legal documents, do not use the Website or participate in any Competition.

1. The Event
   • Microsoft Excel World Championship 2023 (hereinafter – MEWC 2023) is an esports tournament that is based in Microsoft Excel. The tournament has a series of Qualification Rounds followed by Playoff Rounds, starting from the Last 128 Round.
   • The Event is organized by the Financial Modeling World Cup team (hereinafter – FMWC).
   • Microsoft Corporation is supporting the Event, allowing the organizers, among other means of support, to use the name of Microsoft Excel in the competition name.
2. The Participants
   • MEWC 2023 is open to any participant regardless of age, gender, race, place of living or any other limiting factor.
3. MEWC 2023: Tasks
   • Each round of the Competition will provide one Task consisting of a range of problem-solving questions solvable with Microsoft Excel.
     • Each Task will include several Questions that the Participants will have to provide answers for.
     • The complexity of the Questions will vary, with more complex questions awarding more points if answered correctly.
     • All the Questions will be formulated in such a way as to provide fully automated objective grading.
     • It is expected that the Question format will be “Number type-in”. The organizers reserve an option to use other Question formats if deemed necessary.
     • No answers will be in the form of an essay.
   • The Tasks will be varied in topics; however, all the Tasks will be solvable by a general MS Excel user. Solving the Tasks will require knowledge of Excel functions, data management skills and logical thinking. The Tasks will be testing participant’s abilities to use MS Excel techniques to solve out-of-the-box problems. The Tasks will not require specific knowledge of finance, engineering, statistics or other scientific disciplines.
   • The Tasks will be structured in such a way that the users of older versions of MS Excel (2010 and up) should be able to complete them.
   • In order to correctly solve the Tasks, Participants will need to answer the Questions, produce and submit their files.
     • Participants may be provided a basis for the Excel model, or the models will be required to be produced from scratch.
   • Model formatting and style will not be judged.
   • Sample Tasks and previous years’ Tasks are available on the FMWC website and can be purchased separately.
4. Qualification Format
   • While the tournament starts with the Round of Last 128, it is expected that there will be more than 128 participants registered for MEWC 2023.
   • The 128 participants who will take part in the Play-Off Rounds of the tournament will be selected based on the following criteria:
     • 45 places to the winners of the monthly Excel Esports Battles that will take place in January – September 2023 (see below).
     • 16 places to the highest-ranked participants of the Financial Modeling World Cup based on the overall rankings after the September stage (excluding 2 (two) worst stage results for each participant).
     • 4 places to the highest-ranked FMWC participants in the U-25 age group based on the overall rankings after the September stage (excluding 2 (two) worst stage results for each participant).
     • 60 places– to the winners of the Qualification Round (see details below). Some of the players may qualify for the Play-Off Round under both i and ii rules. In such case, extra places will be available to the winners of the Qualification Round.
     • 3 wildcards – awarded by the Organizers of MEWC 2023.
   • Despite Clause 4.b., all the players qualifying for the main draw and willing to participate in MEWC 2023, need to register for the tournament (buy the ticket).
5. Excel Esports Battles
   • Series of 9 (nine) Excel Esports Battles will be introduced in 2023:
     • January 19, 2023 – 4:30 PM London Time
     • February 16, 2023 – 4:30 PM London Time
     • March 23, 2023 – 7:30 AM London Time
     • April 27, 2023 – 4:30 PM London Time
     • May 25, 2023 – 4:30 PM London Time
     • June 29, 2023 – 7:30 AM London Time
     • July 27, 2023 – 4:30 PM London Time
     • August 24, 2023 – 7:30 AM London Time
     • September 22, 2023 – 4:30 PM London Time
   • For each battle, participants will receive access to the task in their email between 4:30 PM and 4:40 PM (or 7:30 AM and 7:40 AM) and will have to submit their answers before 5:15 PM (or 8:15 AM) London time. However, no matter the starting time, each participant will have a 30min limit to complete everything.
   • The Participation Fee for Excel Esports Battles is $20 for each battle.
   • The registration for the Battles closes 1 day before the start of each Battle.
   • Taking part in the Battles is not a requirement for the players who are willing to take part in the MEWC 2023.
   • The organizers reserve the right to change the dates at their sole discretion (to accommodate for holidays or other events).
   • The times of the Battles may vary to make it evenly convenient for players from different time zones.
   • Each Excel Esports Battle will be live streamed. The streamed part of the competition will be between 4 players, selected by the organizers, competing live and sharing their screen, camera and keystrokes (hereinafter – Live Streamed Players). The livestream battle will be broadcasted at least but not limited to the FMWC YouTube Channel.
   • While there will be only 4 Live Streamed Players, these Battles will be open to any player. Any player is welcome to register for the event, solve the case and submit the answers to the testing platform (hereinafter – Not Streamed Players).
   • The players will solve 1 game task in an Excel Esports format.
   • FMWC may change the format at any time at their sole discretion. FMWC will notify Live Streamed Players in advance prior to the Livestreamed Battle. The stream will be structured in such a way that the Not Streamed Players will be able to solve the case, submit their answers and then watch the 4 Live Streamed Players solving the case.
   • The organizers expect to announce the full results of each Battle towards the end of the stream, including the Not Streamed Player results.
   • Prizes and Awards:
     • The top 5 players of each Battle will get a place in the MEWC 2023 Play-Off round – 1 place for the best Live Streamed Player and 4 places for the best Not Streamed Players.
     • If any of the players have already qualified for the Play-Off Round in one of the previous Battles, the qualification spot is awarded to the next best player in the corresponding category (Live Streamed and Not Streamed players ranked separately).
     • The top 3 players in the overall rankings of each stage (Live Streamed and Not Streamed Players combined) will receive the prize money:
       • $250 – 1st place
       • $200 – 2nd place
       • $150 – 3rd place
   • A total of 45 spots in the Play-Off Rounds of MEWC 2023 will be awarded to the winners of the 9 Battles hosted through January-September 2023.
6. Qualification Round
   • In order to provide fair ground for selecting the remaining participants to take part in the Play-Off Rounds of the tournament, besides the current FMWC ranking leaders, regional qualification rounds will be arranged on Saturday, October 7, 2023.
   • The Qualification Round will be organized in 5 different regions:
     • Africa
     • Asia/Pacific (including Australia)
     • Europe
     • North America (USA & Canada)
     • South/Latin America
   • The number of participants qualifying from each continent will be proportional to the number of total participants from the region (i.e., if one region has 560 applicants and all other four regions have only 10 applicants each, then there will be 56 participants qualifying from the first region and 1 participant – from each of the other regions).
   • The Qualification Rounds will start at the following times:
     • Asia/Pacific – Saturday, October 7, 2023, 8:00 AM London time.
     • All other regions – Saturday, October 7, 2023, 5:00 PM London time.
   • The Qualification Round will not be broadcasted.
7. Playoff Round Format (Online Rounds)
   • The Playoff Round starts with the Last 128 stage (the 128 players are selected based on the Qualification Rules stated in Clause 4.b.).
   • The match winners of each round will proceed to the next round. The losers of each round will finish their participation in the event.
   • All Playoff rounds will be broadcasted at least but not limited to the FMWC YouTube channel. Arrangements with other broadcasters will be announced as they get signed on the FMWC homepage and/or FMWC social media channels.
   • Round hosts will be focusing on the Live Streamed Players selected for each stream. MEWC 2023 organizers will select a maximum of 8 participants for each round for the broadcast. These players will be required to log in for a video call and to solve the Tasks during the stream. Other players (Not Streamed Players) will be required to log in to the Examination Platform (see below). If a player is chosen to take part in the stream but refuses to do so, such a player will be disqualified from further rounds of the competition.
   • The Playoff Rounds will take place according to the following schedule:
     • Last 128 and Last 64: Saturday, October 28, 2023 – 2 sessions (1 broadcasted)
     • Last 32 and Last 16: Thursday, November 2, 2023 – 2 sessions (1 broadcasted)
     • The Final Round will be an in-person event and will take place in Las Vegas, NV, USA, in the Esports Arena, hotel Luxor, on Saturday, December 9, 2023 – 1 session (see details below).
   • In order to allow time zone flexibility for the participants, the first rounds up until and including the Round of Last 16 (i.e., Last 128, Last 64, Last 32 and Last 16) will have 2 (two) sessions. Depending on the location of the participants, each game will be assigned by the organizers to one of the sessions that provides the most convenient time for both players in the game.
     • When there are 2 (two) sessions in a round, these will take place at 8:00 AM London time and at 5:00 PM London time.
     • The Final Round will have only 1 session and will take place on Saturday, December 9, 2023, 5:00 PM Las Vegas time (UTC-8). Note, that this corresponds to 1:00 AM London time on Sunday, December 10, 2023.
   • The session’s Timeframe begins exactly at the time mentioned above. The Participant is invited to log in to the Competition on the examination platform in advance.
   • The Timeframe takes into account:
     • Downloading all relevant Tasks
     • Reading and analyzing the Tasks
     • Creation of models
     • Completing the relevant answers for Tasks
     • Submitting the answers
     • Uploading the model
8. In-Person Finals Round Format
   • The Finals Round will start at 5:00 PM PST (corresponds to 1:00 AM London Time, UTC) on Saturday, December 9, 2023, in the Esports Arena in hotel Luxor, Las Vegas, NV, USA.
   • The 8 players winning their matches at the Last 16 Round (Offline, November 2, 2023) will be invited to take part in the In-Person Finals Round. The flight and accommodation expenses will be covered or reimbursed by the organizers.
   • The In-Person Finals will be a part of a bigger event, a Financial Modeling and Excel Training Camp, taking place on December 7-9, 2023. The training camp will be open to any person willing to improve their modeling and Excel skills.
   • To provide more interest and engagement to the Participants and guests of the In-Person Final Round and the Training Camp, the Participants will be able to apply for the Last Chance Qualification Round. Every person registered for the event (including MEWC players that were eliminated in the previous rounds) will have an opportunity to compete in the Last Chance Qualification Round.
   • The Last Chance Qualification Round will be a regular Excel Esports format. The number of players in this round is not limited. It will be a 1 Round all-vs.-all. The Top 8 players from the Last Chance Qualification Round will be added to the Main Draw.
   • After that, the Final Round will continue in a standard Play-Off format: Last 16 => Quarterfinals => Semifinals => Final.
9. Points System
   • The total number of points available for correctly solving all the Tasks at each round – 1,000 points per round (also for the Qualifying Round). Additional points could be introduced by the organizers with the goal to give extra interest to the competition (e.g., extra 100 points for answering an additional extra-hard question, specified separately).
   • At the end of the Offline Rounds, the participants will have to upload their models. If this is not done upon completion of the participant’s work, the participant’s results might be annulled.
10. Case Design Team (CDT)
    • The Case Design Team is responsible for the Task creation for MEWC 2023 and consists of the leading FMWC participants or FMWC Organizing Committee.
    • The Case Design Team members will be able to take part in the competition (except for the Organizing Committee members). A Task created by a member of CDT will be used in sessions where the particular member is not playing.
11. MEWC 2023 Dates
    • The MEWC 2023 will take place on the following dates:
      • Excel Esports Battles: Thursday, January 19, 2023 – Thursday, September 22, 2023
      • Qualification Round: Saturday, October 7, 2023
      • Last 128 Round: Saturday, October 28, 2023
      • Last 64 Round: Saturday, October 28, 2023
      • Last 32 Round: Thursday, November 2, 2023
      • Last 16 Round: Thursday, November 2, 2023
      • The Final Round (Last Chance QR, Last 16 (2), QF, SF and the Finals): Saturday, December 9, 2023
    • MEWC 2023 organizers reserve the right to change the dates of Rounds at their sole discretion (to accommodate for international holidays, etc.)
      • If a date of a Round changes, a notice shall be provided on the FMWC Website or FMWC social media channels.
12. World Rankings
    • MEWC 2023 is a standalone competition that will not impact the Financial Modeling World Cup World Rankings or Ratings.
13. Tie-Breakers
    • In the event of 2 (two) or more Participants have an equal number of points in the Rankings, in determining the higher-ranked Participant, the following is taken into consideration:
      • More Time Saved: The Participant with the lowest amount of Time spent on solving the Tasks wins. In case the participants are still tied, then
      • Best Current Form: The Participant with the highest score in the most recent Round of the competition.
        • If the most recent Round results are identical, then the Participant with the best result in the second-to-the-last round will be taken into consideration.
          • If the results are still identical, then the previous Round results shall be evaluated in a similar fashion going backward (including the Qualification Round and the Excel Esports Battles). In case the participants are still tied, then
      • Earlier Bird: The Participant who purchased the MEWC 2023 ticket earlier will promote.
14. Participation Fee
    • • The Participation Fee (hereinafter – Fee) for the whole event should be paid upon registration. The Fee covers participation in all the rounds of the MEWC 2023 (except the Excel Esports Battles) as far as the Participant qualifies as well as provides access to the game task files for all MEWC 2023 stages (except the Battles). The Fee will increase towards the beginning of the competition. The exact price schedule is as follows:
        

        Registration Date	Amount (In United States Dollars, USD)
        Early Bird Fee (up to May 31, 2023)	$35.-
        Regular Fee (up to October 6, 2023)	$50.-

      • The registration is closed a day before the start of the Qualification Round – on Friday, October 6, 2023, at 8:00 AM London time.
      • The organizers reserve the right to change the Fees anytime at the organizer’s sole discretion.
      • The organizers reserve the right to decline all, or part of any Participation in any Competition entry requested.
      • The Fee is not returned if participants did not actually take part in MEWC 2023.
15. Prize Money
    • • The total prize fund for MEWC 2023 is sponsored by Microsoft, the main sponsor of the event. The prize fund is $15,400 and is divided as follows:
        

        Achievement	Amount (In United States Dollars, USD)
        MEWC 2023 Winner	$3,000.00
        MEWC 2023 Runner-Up	$2,000.00
        MEWC 2023 Semi-Finalist	$1,000.00 (x2)
        MEWC 2023 Quarter-Finalist	$500.00 (x4)
        MEWC 2023 Last 16 Round Participant	$125.00 (x8)
        Excel Esports Battle Winners	$600.00 (x9)

      • The organizers reserve the right to refuse the Prize Money payout if the Participant cannot confirm their identity by submitting photography of a valid government-issued ID document (only Prize Money recipients can be asked to confirm their identity).
      • The organizers will contact the prize money recipients using the email address provided upon purchasing the participation ticket. If the participant ignores the communication attempts for 6 months after the end of the competition, organizers reserve the right to refuse the Prize Money payout.
16. Changes in the Rules
    • • The Organizers have the right to change these Rules at their sole discretion.