The team includes NYU Wagner students Sindhu Janakiram and Ignacio Paullier, and NYU Stern student Kyungye Hyun (MBA '20). Wagner Professor Scott Taitel served as their faculty mentor.
"It was a fantastic journey to work with my amazing teammates Ignacio Paullier and Sindhu Janakiram from NYU Wagner, " said Hyun. "We had many advisors during this journey, but we couldn't have done it without Professor Scott Taitel's sincere advice and insight as our faculty mentor, as well as Professor Tensie Whelan's support."
The team designed an exchange-traded fund, which is the first retail investment product that facilitates investments in a global index comprised of listed companies with robust policies and initiatives related to the economic integration of refugees. Their innovation incentivizes private-sector economic integration of refugees by screening for companies that support refugees through hiring and supply chains, entrepreneur support, and education and skills development.
"The purpose of our exchange-traded fund is three-fold," said Hyun. "It raises awareness of refugee contribution through a widely available retail investment product; it scales refugee investment by crowding in retail, high-net-worth, and institutional investors; and it incentivizes companies to launch or continue refugee investment."
The team presented to a panel of esteemed judges from the sustainable finance sector.