Kellogg-Morgan Stanley Sustainable investing Challenge 2026 for Graduate Students Worldwide (Up To $USD10,000 Grand Prize)

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Applications are open for Kellogg-Morgan Stanley Sustainable investing Challenge 2026. Every year, the Kellogg-Morgan Stanley Sustainable Investing Challenge invites teams of graduate students from around the world to develop and pitch creative financial approaches to tackle pressing social and environmental challenges.The Challenge: Design a Creative Financial Solution for an Urgent Social or Environmental Problem

The Kellogg-Morgan Stanley Sustainable Investing Challenge harnesses the power of capital markets and student creativity to create positive impact in a world of perpetual resource scarcity and continued population growth. A pitch competition for graduate students, the Challenge focuses on developing institutional-quality investment vehicles that seek positive environmental or social impact and competitive financial returns.

Kellogg-Morgan Stanley Sustainable investing Challenge Benefits

Award Prizes

$10,000: Grand Prize
$5,000: Runner Up
$2,500: Third Place

Networking Opportunities

Chance to network with and get feedback from leading financial professionals Master Class Lecture Series
Four lectures by renowned professors in impact finance from top universities Career Trek
Small-group networking sessions with industry professionals Finals in London, UK
The chance for a trip to London, UK to present your proposals to industry leaders

Eligibility Criteria

Teams are limited to a maximum of four (4) members.
All team members must be currently enrolled in a graduate program at the time of the prospectus submission. Undergraduate students are not eligible.
Your team may include members from different graduate schools.
All ideas must be the original ideas of the team members.

Judging Criteria for Kellogg-Morgan Stanley Sustainable investing Challenge

Creativity & Financial Innovation (25%)

Has the team proposed an innovative investment vehicle that is designed to drive both returns and impact? They are looking for either:
- An innovative financial structure or
- A known investment approach applied creatively to a problem previously outside the scope or reach of a social or environmental challenge
What’s interesting about this project? Is it just like a dozen others or truly innovative?
Does the proposal have a unique capital structure, e.g., including different forms of capital, employing diverse types of institutional investors?
Does the proposal uncover new ways to drive returns, a new asset class, or a new cash flow or value stream?

Impact & Scale (25%)

Does this provide a scalable solution that can mobilize sufficient capital and forge significant environmental or human impact?
Are there specific metrics for impact? Is the impact real and persistent?
Does the impact derived from the proposed approach stem from the financial levers rather than ancillary charitable remains?
Has the team demonstrated diligence in defining and projecting the impact to be derived?

Feasibility (25%)

Does the investment thesis seem plausible?
Are there real sources of risk-adjusted market rate returns here? (even if considering a gestation period with concessionary returns)
Could you see institutional investors responding to and funding this?
Was the thesis thoroughly researched and is there strong evidence of financial depth that incorporates the overall economy?

Quality of Due Diligence & Financials (20%)

How thorough and deep is the research on the thesis?
Do the returns and cash flow projections hold water? Has the team demonstrated strong financial logic and the validity of key financial assumptions?
Have the key investment questions relating to returns, asset quality, underwriting, and risk management (both market-based and non-market) been identified and addressed?
Does the team have the skills needed to execute? Have they defined the skills needed on the investment team?
Are the proposed fees and incentives reasonable?

Presentation (5%)

Has the team been clear, compelling, and concise with their proposal?
For the final event: Have all team members participated in either the original presentation or Q&A?