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Three teams of finalists travelled to New York City to pitch their plans to KLI representatives and successful entrepreneurs. The Erb student team emerged victorious, edging out finalists from the University of California at Berkeley's Haas School of Business and Columbia University's Business School.
The Erb team’s business is called Mozergy – bringing together Mozambique and Energy. Mozergy utilizes a microfinancing strategy to help native Mozambiquens profitably cultivate jatropha on arid local lands. Jatropha is resistant to drought and pests, and produces seeds containing up to 40% oil. When the seeds are crushed and processed, the resulting oil can be used in a standard diesel engine, while the residue can also be processed into biomass to power electricity plants.
KLI plans to make the competition an annual event, with each year's theme consistently focused on Africa; it also hopes to use the contest as a platform for the winners to implement their plan after graduation.
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The Clean Tech component represents a partnership between Erb and ZLI, and was initiated by Erb Leadership and students who worked with the two funds' Managing Directors to launch the effort. Representatives from both ZLI and Erb will be actively involved in advising the Clean Tech teams going forward.
The Frankel team is actively looking for entrepreneurs seeking pre-seed funds to turn big ideas into exceptional companies. Each Frankel team may invest up to $100,000 per investment to entrepreneurial ideas with great potential and a vision for the future. The WVF invests primarily in early-stage, emerging growth companies. The Fund typically provides $50,000 to $200,000 in seed and first-stage funding rounds in syndication with other venture capital funds and angel investors.
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When asked about their decision to make this generous gift, Carolyn noted: “Peter and I have made a lifelong commitment to give of our time, talent, substance and influence to work with and help others.”
Mr. Mertz is CEO and Founder of Global Forest Partners – one of the largest timber investment management organizations in the world. He is a Certified Forester and a Member of the Society of American Foresters and the World Business Council for Sustainable Development. Peter is a U-M alumnus, having earned degrees from the Ross School of Business and the School of Natural Resources and Environment. He also is a member of the Erb Institute External Advisory Board. Carolyn is a graduate of Southern Methodist University, where she earned a BA in Spanish and an MBA. She now chairs the Board of Trustees of the Montshire Museum of Science, which features interactive learning about the natural and physical sciences, ecology, and technology. She enjoys gardening, cooking, playing the piano, and hiking the Granite state. Peter and Carolyn reside in New Hampshire with their two daughters, Anna (17) and Carla (15). |
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Although they spoke from disparate perspectives, the participants representing Catholic, Protestant, Jewish, Hindu, Buddhist and other faiths agreed that environmental damage is an ethical and moral issue, as well as an economic one. Citing the species extinction rate of 20,000-30,000 a year due to human activity that impacts other life on Earth, keynote speaker Dr. Mary Evelyn Tucker noted, "If this is not a religious issue, I don't know what is."
As a complement to the faith-based discussion, panelists also addressed how businesses and lawmakers are working with faith-based organizations to create positive eco-change. Interfaith Center on Corporate Responsibility (ICCR) Director Leslie Howe, for example, noted the corporate behavioral change that has been brought about by shareholder pressure on companies to reduce their carbon footprint. She added that religion's role is to help transform corporations back into "social enterprises" that have a positive ecological influence.
Click here to view the Agenda, Pod cast, and transcripts page
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The Ross chapter was selected from more than 150 worldwide, including those from the world's top MBA programs, for its "continued growth, its high level of activity and engagement, its influence on the Ross community and its efforts to assist the development of other Net Impact chapters."
“This chapter is truly setting the bar nationally for innovation and impact, and we’re living up to our tag line: passion – purpose – performance,” said Brian Swett, Erb MBA/MS student and Co-President of Ross Net Impact. “This honor further solidifies Ross as the best, top-tier business school in the country at integrating social and environmental issues and topics into the student experience.”
The awards were presented as the culminating event of the three-day Net Impact National Conference at Vanderbilt University in Nashville in front of a crowd of 1,700 attendees—including more than 60 members of the Ross Net Impact chapter, one of the two largest contingents from a visiting school.
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