Haas MBA Students “Do Good” in JPMorgan Good Venture Competition



December 15, 2006


Berkeley CA - Do you know of a worthy cause that deserves serious investment? The answer to this question was a resounding yes for 65 socially conscious teams from 41 business schools who entered JPMorgan’s U.S.-based Good Venture competition this Fall.

The winning team from UC Berkeley’s Haas School of Business pitched a proposal for Lenders for Community Development, a San Jose-based non-profit that invests in people who are working to build financial, personal, and shared assets in low-income communities throughout the Bay Area. Winning $25,000 in funding for LCD, the team included second-year MBA students, Shaolee Sen, Rob Kaplan, and Julia Gilfillan, and Ellie Kelly from Lenders for Community Development.

A total of 172 MBA students from across the U.S. competed in the competition, with each team creating a compelling case as to why JPMorgan should invest in their chosen nonprofit organization. The student’s proposals championed programs ranging from a community microfinance initiative in California (Lenders for Community Development) to funding rural schoolhouses in India. JPMorgan designed the initiative to provide students with an opportunity to contribute to the greater good by supporting nonprofit organizations about which they are passionate.

After careful review of the 65 proposals, six teams were chosen as finalists. JPMorgan flew the finalists to New York, where they spent time with members of the investment banking team on November 30 and December 1. Finalists gave team presentations to a panel of senior JPMorgan executives from the equity capital markets, leveraged finance, financial institutions, and community relations groups, and attended an awards ceremony afterward where the winning team from Haas was announced.

“All of our team agreed that the one class that prepared us to win the JPMorgan competition was Professor McElhaney’s Strategic CSR class,” said Rob Kaplan (MBA ’07). “Kellie taught us how to make to business case and that is exactly what we did. The best part is that we were competing for real money to help a real organization that needed it, a unique aspect of the event.”

“Lenders for Community Development is thankful to have been represented by such an outstanding team and is very proud to accept the JPMorgan Good Venture Award”, said Eric Weaver, Executive Director of Lenders for Community Development. “This award means a lot to us, both because it recognizes the impact of our work and it will support our clients as they gain financial management skills, build assets, and create long-term financial independence.”

The Good Venture competition comes at a time when investment banks are looking for new and innovative ways to attract top talent in an increasingly competitive marketplace for graduate recruits.

“It is clear that social responsibility is important to students. It is becoming a critical factor as companies try to stay competitive and be ahead of the recruiting game,” said JPMorgan’s Danielle Domingue. “At JPMorgan it’s about building business and building communities.”

JPMorgan will host the second leg of the competition for undergraduates on January 19, 2007.

To learn more about Good Venture go to www.goodventure.org.