Top global business schools join forces to design Investment vehicles to solve critical social problems
INSEAD, the leading international business school, today announced a new partnership with the Kellogg School of Management at Northwestern University: the two institutions collaborated to co-host the 2013 International Impact Investing Challenge (I3C). Now in its third year, the challenge is a “pitch” competition that provides graduate students from around the world with the opportunity to create high-performance, high-reward investment strategies that deliver sustainable social and environmental impact. In particular, I3C teams applied core principles from the MBA finance curriculum. Doing so, they designed investment strategies that address issues of climate change, resource scarcity, energy security, education, healthcare and more.
“It is a pleasure to engage in this partnership with Kellogg, as we build on INSEAD’s history of putting financial management knowledge into action for high-impact, real-world results,” said Peter Zemsky, INSEAD interim Dean. “In fact, INSEAD was founded by Georges Doriot, the ‘father’ of venture capital and a person whose vision set the entrepreneurial path that has guided INSEAD’s success for more than 50 years. The I3C goals are well aligned with INSEAD’s institutional DNA as a school that inspires ideas with impact.”
Begun in 2011, I3C aims to spur innovative financial frameworks to address urgent social challenges. For example, the winner of the inaugural competition was a team that proposed a REIT (real estate investment trust) structure to mitigate food shortage in India.
“The International Impact Investing Challenge invites students to think creatively about how to design investment vehicles that appeal to institutional investors, while simultaneously creating solutions for global social issues,” said Jamie Jones, Director of social entrepreneurship at the Kellogg School. “While we’ve been very impressed with the caliber of financial creativity among the student teams who participated in the previous two years, we’re thrilled to have INSEAD as a European academic partner this year to attract a more global audience than ever before.”
Teams were invited to submit a two-page prospectus by March 14, 2013. Ten select teams presented their proposals at a final event at the World Bank in Washington, D.C on April 26, 2013. The judging panel is comprised of experienced officers and investors who currently manage family foundations, pension funds and university endowments. Top team will receive financial support to implement their vision.
The International Impact Investing Challenge is sponsored by Equilibrium Capital Group; the McCall Foundation; Impact Assets; the Carol & Larry Levy Social Entrepreneurship Lab; World Bank Institute and the Calvert Foundation.
“INSEAD is very excited to be partnering with the Kellogg School for this year’s International Impact Investing Challenge,” said Christine Driscoll Goulay, associate director of the INSEAD Social Entrepreneurship Initiative, adding that recent enhancements to INSEAD’s finance curriculum include the 2012 launch of a specialized Master in Finance degree, designed to strengthen the skills of experienced financial industry professionals. “We have seen impact investing grow in recent years and become of rising importance to our students and the INSEAD alumni in the global finance community. We look forward to expanding on Kellogg’s excellent efforts in building this competition by increasing awareness and attracting submissions from INSEAD’s European campus.”
To learn more about the International Impact Investing Challenge,
visit www.impactinvestingchallenge.org
About the Kellogg School of Management
The Kellogg School of Management is one of the world’s top business schools. Located in Evanston, IL, near Chicago, Kellogg was founded in 1908 and has earned a global reputation as a leading management institution, particularly in the marketing discipline. Kellogg is known for its collaborative, team-oriented student culture.
For more information about the Kellogg School, visit www.kellogg.northwestern.edu.
Kellogg media contact:
Betsy Berger
Kellogg School of Management
Office: 847-467-3108
[email protected]
