IIT Delhi students win WorldQuant’s International Quant Championship 2023

NEW DELHI: A team of two students from the Indian Institute of Technology Delhi (IIT Delhi) has won the International Quant Championship (IQC 2023) hosted by WorldQuant. Nihar Patel and Vaibhav Gupta have won a cash prize of more than 100,000 US dollars or Rs 83,28,000.

The IIT Delhi team competed against 30,000 participants from more than 100 countries. A total of 12 teams from across the countries who secured the highest points in the second stage received an invitation to the Bahamas for a live challenge and presentation.

The winning teams of IQC 2023 are from India, Canada, and the United Kingdom. Alpha creation, diversification approach, originality of ideas, selection rationale, and alpha performance were some of the criteria that the judges used to evaluate each participant.

The teams representing various nations, including Canada, China, Hungary, India, Malaysia, the United Kingdom, the United States of America, Singapore, South Korea, Spain, Taiwan, and Vietnam, took part in the finals of the International Qualifications Competition 2023.

Congratulating the winners, who represented leading universities including the Indian Institute of Technology Delhi, McMaster University and Edinburgh University, WorldQuant’s chief strategy officer Nitish Maini, said: “The students’ quantitative talent and ways in which they expressed their novel thinking was commendable. I look forward to seeing how WorldQuant will continue bridging the gap between talent and opportunity.”

Founder of WorldQuant Igor Tulchinsky said: “The impressive turnout of competitors in the IQC exemplified the Caliber of quantitative talent across the world. Their hard work and innovative ideas were inspiring, and I look forward to seeing what the future holds for WorldQuant BRAIN and quants worldwide.”