Kellogg-Morgan Stanley Sustainable Investing Challenge 2024 (Up to $10,000 Prize) – APPLY NOW

Each year, graduate student teams from various parts of the world are invited to participate in the Kellogg-Morgan Stanley Sustainable Investing Challenge. The objective is to create and present innovative financial strategies to address significant environmental and social issues.

Kellogg-Morgan Stanley Sustainable Investing Challenge
Kellogg-Morgan Stanley Sustainable Investing Challenge

In 2023, over 300 students representing 53 countries and 60 universities introduced fresh financial instruments to generate a positive impact. The challenge fosters relationships with top industry experts to identify, support, and encourage the next generation of sustainable finance leaders.


Grand prize:$10,000

Runner up:$5,000

Third place:$2,500

Eligibility Criteria

  • Each team can consist of up to four (4) members.
  • All team members must be currently enrolled in a graduate program when submitting the prospectus. Undergraduate students are not eligible.
  • Your team can consist of members from different graduate schools.
  • All ideas presented must be original and generated by the team members themselves.

Judging Criteria

Creativity & Financial Innovation(25%)

  • Has the team put forward a unique investment opportunity aimed at delivering both financial returns and societal impact? We are interested in either:
  • A groundbreaking financial framework or
  • A traditional investment strategy is applied creatively to tackle a previously unaddressed social or environmental issue.
  • What sets this project apart? Is it akin to numerous others, or is it genuinely pioneering?
  • Does the proposal feature an unconventional capital structure, such as incorporating various forms of capital and engaging a wide range of institutional investors?
  • Does the proposal reveal innovative approaches to generating returns, introducing a new asset class, or establishing a fresh cash flow or value stream?

Impact and scale(25% )

  • Does this offer a scalable solution that can generate substantial capital and create significant positive effects on the environment or society?
  • Are there specific impact indicators? Is the impact genuine and sustainable?
  • Does the proposed approach primarily rely on financial mechanisms rather than relying solely on charitable contributions?
  • Has the team shown thoroughness in defining and projecting the expected impact?
  • Does the proposal feature a distinct capital structure, such as incorporating various types of capital and involving a diverse range of institutional investors?
  • Does the proposal introduce innovative methods to generate returns, introduce a new asset class, or create a unique cash flow or value stream?


  • Does the investment proposition appear reasonable?
  • Are there tangible opportunities for market-rate returns that have been adjusted for risk? (even if considering an initial period with lower, concessionary returns)
  • Can you envision institutional investors showing interest in and providing funding for this?
  • Was the thesis extensively researched, and does it present robust evidence of financial soundness that takes into account the broader economy?

Quality of due diligence and financials(20%)

  • How comprehensive and in-depth is the research supporting the thesis?
  • Are the projected returns and cash flow assumptions credible? Has the team shown strong financial reasoning and validity of crucial financial assumptions?
  • Have the critical investment questions concerning returns, asset quality, underwriting, and risk management (both market-based and non-market) been acknowledged and dealt with?
  • Does the team possess the necessary skills to carry out the plan? Have they outlined the required skills within the investment team?
  • Are the proposed fees and incentives fair and justified?


  • Has the team effectively conveyed their proposal with clarity, persuasiveness, and conciseness?
  • For the final event: Have all team members contributed either during the initial presentation or the Q&A session?

Application procedure

In order to apply for this opportunity, click the provided link

For further information please visit the official website of Kellogg-Morgan Stanley Sustainable Investing Challenge 2024.     

Application Deadline

January 21, 2024.



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