Sustainable Investing Challenge 2027
By Kellogg School of Management
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Quick Answer
Pitch contest for graduate-student teams designing an investment fund for a social or environmental problem; 2026 grand prize US$10,000 (about ₹9.5 lakh). Register by 17 January 2027.
- Funding amount
- Varies
- Funding type
- Competition
- Provider
- Kellogg School of Management
- Application deadline
- 71d — 17 Jan 2027
- Eligible stage
- Idea
- Location
- International
About this competition
The Kellogg-Morgan Stanley Sustainable Investing Challenge is an annual competition run by Northwestern University's Kellogg School of Management in Evanston, Illinois. It asks teams of graduate students from around the world to design and pitch a financial approach to a social or environmental problem. The 2026 grand prize was US$10,000 (about ₹9.5 lakh), and registration for the 2027 round closes on 17 January 2027. It is open to graduate students only, so it is not for founders who are not enrolled in a graduate programme.
What the program offers
Prize money is the headline. In the 2026 edition the grand prize was US$10,000 (about ₹9.5 lakh), the runner-up received US$5,000 and third place US$2,500. The listing also describes a master-class series, mentoring, a career trek and the chance to present at the finals in London. The source we could read for 2027 does not repeat the prize amounts, so treat the 2026 figures as the guide and check the challenge website for the 2027 prize list.
Beyond cash, the challenge connects students with finance and impact professionals, and it publishes past winning submissions and finalists. Winning ideas have included a private debt fund for education access in India and a REIT to cut grain storage waste in India, which shows the kind of investment product the judges like.
Who can apply
Teams of up to four graduate students can enter. Every team member must be enrolled in a graduate programme when the prospectus is submitted, and undergraduates are not eligible. Team members can come from different graduate schools anywhere in the world, so an Indian graduate student can join a team. The ideas must be the team's own original work. The challenge website says its eligibility details sit on separate pages that we could not read, so confirm the full rules there.
This suits MBA, finance, policy and engineering students who want to turn an impact idea into an investable structure. It does not suit a company that wants funding for an operating business: the entry is a proposal for a fund, bond, loan facility or other instrument, not a startup pitch.
How to apply
Form your team, then register on the challenge website by 17 January 2027. You can ask for a mentor to give feedback. Optional events help: a master class on 3 December 2026 and a web information session on 12 January 2027. The official calendar also shows a kick-off webinar and registration opening on 29 October 2026.
The entry itself is a two-page prospectus, due on 14 February 2027. It should set out your investment thesis, the size of the fund or investment, the target geography and market, a financial model, expected returns and impact measures. The listing says the prospectus should carry no cover page or identifying information. A practical tip: keep the idea narrow, show the numbers and say how you would measure impact, since feasibility and impact count alongside creativity.
How applications are judged and what happens next
Finance and impact professionals judge the prospectuses in a first round. The listed criteria include creativity and financial innovation, impact and scale, and feasibility, each weighted at 25%. Finalists are announced on 8 March 2027 and present to a panel of executive judges at the finals in London, UK, on 16 April 2027. A career trek is scheduled on 18 February 2027.
About the challenge
The challenge is run by the Kellogg School of Management with Morgan Stanley, whose Institute for Sustainable Investing appears among the sponsors alongside several other firms and organisations. In 2026, 618 students from 107 schools in 65 countries took part.
Things to check before you apply
- The finals are in London. The source does not say whether travel or accommodation is covered, so ask the organisers before you commit.
- Every member must still be a graduate student on the submission date.
- The source does not state an entry fee.
- The prize list for 2027 was not on the page we read; confirm it on the website.
Eligibility
See if you're eligible
Full eligibility criteria — entity type, stage, sector, founder profile and registration requirements — plus your fit for this program. Sign up to view.
Organizers
Prizes & Awards
What You Get
In the 2026 edition the first-place team won US$10,000 (about ₹9.5 lakh), the runner-up US$5,000 and third place US$2,500. Teams can also request a mentor for feedback before submitting, attend a four-lecture master-class series on impact finance, join small-group career-trek sessions, and finalists may travel to London to present to industry leaders.
- Disbursement
- Lump Sum
- Bootstrap friendly
- Yes
Timelines & Process
Selection Process
Finance and impact professionals judge the prospectuses in a first round, scoring creativity and financial innovation, impact and scale, and feasibility among other things. Finalists are announced on 8 March 2027 and present to a panel of executive judges at the finals in London on 16 April 2027.
Application Process
- 1
Register
Register your team by 17 January 2027.
You - 2
- 3
- 4
How to apply
Four steps from draft to disbursement — one action each.
- 1
Submit on the official portal
Use the official application link and verify all details before final submission.
- 2
Follow up
Reach out 5–7 days after submitting to confirm receipt and ask about the review timeline.
Frequently Asked Questions
Who can enter the Sustainable Investing Challenge?
Teams of up to four people who are all enrolled in a graduate programme when the prospectus is submitted. Members can come from different graduate schools anywhere in the world. Undergraduates cannot enter.
Can Indian students apply for the Sustainable Investing Challenge?
Yes. The challenge is open to graduate students from around the world, and past winning ideas have been about India. Every member must be enrolled in a graduate programme. It is not for founders who are not students.
How much is the prize in the Sustainable Investing Challenge?
In 2026 the grand prize was US$10,000 (about ₹9.5 lakh), with US$5,000 for the runner-up and US$2,500 for third place. The page we read for 2027 does not repeat the prize list, so check the website. The 2026 figures are a guide only.
How is the prize paid?
The source does not say how or when prize money is paid, or in what currency. Ask the organisers once your team becomes a finalist. They can also tell you how a prize is split inside a team.
What is the deadline, and what if it has passed?
Register by 17 January 2027 and submit the two-page prospectus by 14 February 2027. The source does not say whether a late entry is accepted. The challenge runs every year, so a missed deadline means waiting for the next round.
Is it a grant or equity?
It is a competition prize, and the source describes no equity being taken. Your entry is a proposal for a fund or financial instrument on paper, not a company asking for investment. The source does not describe any ownership terms.
What do we need to submit?
A two-page prospectus with no cover page or identifying information. It should cover your investment thesis, fund and investment size, target market, financial model, returns and impact measures. You also register on the website beforehand.
Do I have to travel to London?
Only finalists present at the finals in London, UK, on 16 April 2027. The source does not say whether travel or accommodation costs are covered. Ask the organisers before you commit.
Is it free to enter the Sustainable Investing Challenge?
The source does not state an entry fee. Check the registration page before you submit. It does say mentors are available if you ask for one when you register.
When are the finalists and winners announced?
Finalists are announced on 8 March 2027. The finals take place in London on 16 April 2027, where the winners are chosen after the finalists present to the judges.
Sources
Data on this page is compiled from official program and provider references.
