2004 Headlines
Johnson School Students Win London Venture CompetitionTop Global Social Venture Honors Won by MBA Team May 3, 2004, Ithaca, New York The Johnson Graduate School of Management at Cornell University today announced that a team of its students earned first place in the "Social Return on Investment" (SROI) category at the Global Social Venture Competition held at the London Business School on April 15th and 16th. The group, comprised of MBA '04 candidates Jonathan Greene, Charles Hamilton, and Shane Sugino, presented their business plan for Distributed Generation Technologies (DGT), a for-profit enterprise commercializing an innovative technology that converts organic waste into pure and compressed methane gas via anaerobic digestion. "We could not be more pleased that these students won this global venture competition that attracted some of the best business ideas in the world," said Stuart L. Hart, the Samuel C. Johnson Professor of Sustainable Global Enterprise and Professor of Management at the Johnson School. "Their plan is a blueprint for financial success while being socially-responsible in the process." The SROI category rewarded the business plan with the most outstanding Social Return on Investment analysis, a relatively new method of monetizing the social benefits associated with socially-oriented business ventures. The team was recognized for their outstanding SROI analysis because of their innovative approach to calculating social value for municipal wastewater treatment plants that adopt DGT's technology to treat wastewater and produce compressed natural gas for use in fleet vehicles. "It's an exciting moment for us as well as for the Johnson School and Cornell as a whole," said Shane Sugino, co-founder of DGT. "Winning the SROI category of the Global Social Venture competition not only validates the enormous growth potential of our business plan, but also highlights its immense social value." Since the business plan combines an entrepreneurial drive with a social mission, the team sought support and direction from Dr. Stuart L. Hart, chair of the Center for Sustainable Enterprise at the Johnson School, and John Jaquette, director of the Entrepreneurial and Personal Enterprise program at Cornell University. "Stu and John are valuable partners for the DGT team," said co-founder Jon Greene. "In addition to financial support, their vision and industry contacts have been critical in graduating our venture from concept to reality." Originally a group project for an MBA social entrepreneurship, the DGT business plan became a reality when it was incorporated in December 2003. The company is now working with a team of researchers from Cornell's Department of Agricultural and Biological Engineering, lead by Dr. Norman Scott, to develop a commercial prototype. Co-founder, Charles Hamilton added, "As entrepreneurs, we recognize the importance and value of a strong network in achieving your goals. We recognize that Cornell and the Johnson School will play an important role in the success of our business moving forward." The DGT team competed in business plan competitions at Rice University, the University of San Francisco, and recently headed to Northern California to compete at MBA Jungle's business plan competition in Mountain View, California. In its fifth year, the Global Social Venture Competition has grown to be a truly global partnership of UC Berkeley's Haas School of Business, Columbia Business School, and now London Business School. The Goldman Sachs Foundation has supported the competition for the past three years. A record number of 129 business school teams from 40 countries around the world submitted business plans for consideration in the 2004 competition, which had to include both financial and social bottom lines. For more information, visit the GSVC web site at www.socialvc.net. The Johnson Graduate School of Management prides itself on teaching "real time, real world" business skills, and is among the top business schools in the world. The school distinguishes itself with a wide variety experiential learning opportunities, such as immersion curricula and student-run venture capital and mutual funds. Programs include MBA and doctoral degrees, a twelve-month MBA option for students with advanced degrees in science or engineering, an executive MBA and a variety of customized executive education programs. Visit the Johnson School on the web at www.johnson.cornell.edu. For More Information |
