From a record 240 entries worldwide, the Columbia Business School team won first place and $25,000 in this year's Global Social Venture Competition. The team consisted of four MBA students: Hilary Garris '09, Evan Berger '09, Matt Roach '08, Aynsley Toole '08 and non-MBAs, April Allderdice and James Dailey.
The winning concept, MicroEnergy Credits (MECC), offers microfinance institutions a technology that comprehensively tracks and aggregates high quality carbon-offset credits, allowing MECC to then sell the offsets to institutional buyers.
Linking microfinance institutions to the carbon markets enables clean energy choices at the Bottom of the Pyramid through a scaleable internet technology, such as solar electric lighting, efficient cook stoves and biogas fuel.
"My teammates and I believe that microfinance institutions, the carbon markets and clean energy sources can be combined to improve both the standard of living for the world's poor and the health of our environment, and this award validates our conviction," said team member Aynsley Toole. "We are proud to have represented MECC and Columbia Business School in Berkeley, and honored to have won."
The Global Social Venture Competition is an innovative partnership between Columbia Business School, the Haas School of Business at UC Berkeley, London Business School, Yale School of Management and the Indian School of Business. The competition aims to foster a new generation of business leaders that values the social as well as the profit potential of business.
MicroEnergy Credits joins former Columbia Business School winners:
2006 - 1st place: Mobile Medics; 3rd place: Highland Tea Company
2005 - 2nd place: Connect Us
2004 - Best Blended Winner: IAM, LLC2002 - Medium Growth Winner: Bronx Charter School for the Arts
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