A team of MBA students from Harvard Business School has won a $25,000 investment in a Tunisian startup as part of a program that teaches students how to invest in social and environmental causes.
The winning team, which included three HBS students and three students from Harvard Kennedy School, pitched a water purification device called Kumulus to a panel of experienced impact investors at the Global MIINT competition, reports the Harvard Business School blog.
They beat out 40 other MBA programs from around the world to win the investment in March.
"I really enjoyed working with other impact-focused students and hearing about their experiences," says one of the HBS students.
"The MIINT program also provided an avenue to reach out to impact VCs and ask their perspective, which gave me a stronger sense of the different paths founders and impact investors have taken and ultimately what drives my passion for the space."
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Dr. Rajiv Shah, the Administrator of the U.S. Agency for International Development (USAID) leads the U.S. government’s efforts to end extreme poverty. He chose to participate in the impact investing conference at the Vatican and met with Pope Francis directly to address world poverty, the future of impact investing, and promotion of resilient, vibrant democratic societies worldwide.