Getting to Know the Class of 2020: Jared Alvord

Jared graduated from the University of Vermont in 2010 with a degree in Environmental Studies. He has been in the solar industry since then, working on projects ranging from residential to utility scale. In 2017, Jared founded Mad River Solar, a small utility scale solar and battery storage development company. Jared lives in the Mad River Valley of Vermont with his wife Emma, and dog Maggie. He is an officer on the local volunteer fire department, and a member of the towns Development Review Board. Jared is an avid outdoorsman, and loves to hike, ski, fish and hunt. Connect with him on LinkedIn.

Why did you choose to attend The Sustainable Innovation MBA program?

The Sustainable Innovation MBA fit directly into my vision for the type of business leader I wanted to be. I needed a program that would teach me the invaluable MBA skills needed to scale my solar business, while bringing along with it an innovative new way of thinking about the future of business.

What has been your favorite part/element of the program?

The program is tailored to bring you the skills of tomorrow, while giving you the base that every business leader needs to succeed.

What are three things someone considering the program should be aware of?

1) The program is intense being focused into one year, so plan for this. 2) While the program brings you innovative and disruptive skills surrounding sustainability, you still gain those base MBA skills needed to succeed. 3) Burlington, Vermont is cold and snowy in the winter, so bring your skis!

How has The Sustainable Innovation MBA benefitted you so far?

I have already taken some of the skills learned in the program back to the solar company that I own. This program has direct real world value.

What business, sector, or issue would you like to have an impact on after the program?

The energy industry through the deployment of renewable energy.

Anything else?

One of the best parts of the program is the diverse and ambitious class. Our class has become very close friends in a short period of time.

Sustainable Innovation MBA Students Strike for Climate Change

This post was written by Jackson Berman ‘20

On Friday, September 20, 2019, MBA students from UVM’s Sustainable Innovation MBA Class of 2020 joined forces with youth activists, students, and workers around the world to demand a just future free from fossil fuels. These global strikes are happening before the UN Climate Action Summit next week – our goal is to put pressure not just on politicians, but people from all generations. Climate change is a moral issue, it’s happening now, and we have an opportunity to take action.

Students from the Class of 2020 at the Burlington, VT Climate Strike on September 20, 2019.

Google, Microsoft, Facebook, and Amazon will all be participating in strikes across the country. Locally in Burlington, SI-MBA students followed in the footsteps of Burton Snowboards, Ben & Jerry’s, Seventh Generation, and environmentally focused non-profits such as 350 Burlington, VPIRG, Climate Disobedience Center, and Sunrise Movement.

Students from the Class of 2020 at the Burlington, VT Climate Strike on September 20, 2019.

We as the Sustainable-Innovation MBA Class of 2020 have also teamed up with some inspiring alumni to march for climate justice! I talked with Brodie O’Brien ’14 and now Digital Marketing Manager at Ben & Jerry’s.

“Here at Ben & Jerry’s, we see our opportunity as providing people with an onramp first-step into engaging in large-scale issues that may feel insurmountable. Climate change is a big, scary topic that’s too big for one person to address alone: we think that the power of collective action can change the system. That’s why we’re here at the Burlington Climate Strike scooping today – we want to celebrate our fans who are already involved with Climate Action, and provide a fun way for new people to get excited about creating real collective positive change.” Brodie also noted that “we use our digital channels to raise awareness of movements amongst fans, it goes beyond just showing up physically at events.”

Brodie O’Brien ’15 (right), Digital Marketing Manager at Ben & Jerry’s

Climate change is truly a world crisis: we have an obligation to create sustainable business solutions that meet the needs of the present without compromising the ability of future generations to meet their own needs.  

Julie Keck, Class of 2019 Class Speaker

EDITOR’S NOTE: The Sustainable Innovation MBA Class of 2019 was celebrated at their program-end Inauguration ceremony on August 17, 2019 at the Royall Tyler Theater on the campus of the University of Vermont. Julie Keck ’19 was chosen by her cohort to deliver the Class Speaker address. The text of her remarks is below.

Before I get started, it’s important to point out that this event is taking place on traditional Abenaki and Wabanaki land, and it is a privilege to have been educated on – and to now graduate within – the land that they have stewarded.

Julie Keck

I have the honor of speaking to you today because my peers voted for me. I suspect those who clicked on my name either thought I would say something funny, say something touching, or politely ‘stick it to the man.’ Those hoping for any of these three things will be satisfied. 

If you have gone through this Sustainable Innovation MBA program at the University of Vermont – or if you love us, teach us, or support us in any way – you’ll know that we completed many, many, many presentations in this program. While public speaking can be stressful for some, it was no secret in our classroom that I love a good microphone. For me, the only problem was that I had to share my presentation time with my lovely classmates.

But now – finally – the microphone’s all mine. And I Have Some Things to Say.

But first more about me: when I was little, and I was super cute when I was little, my dad would sometimes ask me a question, and I’d respond with: “Let me sing you about it.” Those who’ve come to live-band karaoke with me at Sweet Melissa’s over the past year will be relieved to know I’m not actually going to do that.

Another response I sometimes had to questions was: “I can’t know that yet.” 

I like that better than “I don’t know,” don’t you? It conveys that one might not *currently* have the knowledge to answer a question, but that the knowledge is surely on the horizon. Four-year-old ME had some insights that adult ME had lost in the ensuing years. I like to think I regained some of that intellectual optimism this past year. 

However, to be totally honest, and I consider you all my best friends, so I will always be honest with you, my pessimistic side almost kept me from applying to business school at all…

Because I’m not supposed to be here. For a few reasons.

Julie Keck, right, and partner Jess King

First, I am a woman. 

This year, there were more women on the Fortune 500 list of CEOs than ever before. Sounds like progress, right? Wanna know what the number was? 33. 33 out of 500. Let me make that clearer. Out of 500 CEOs on that list, 467 were men, and 33 were women. That’s 6.6%. That’s appalling.

Advice for the Class of 2020: Live Nearby

This post was written by Adam Figuieredo ’19. See a wonderful offer at the bottom of the article

A lot of people will be talking about time management. You know how the game is played. Be efficient and don’t overlook the low-hanging fruit. Your commute is the best place to start. I recommend searching for a place near the business school ASAP.

Photo by Gianluca Baron on Unsplash

My 5-minute walk is not something I think about often at this point in the program. I have to remind myself of my deliberate/proactive approach, as well as my good fortune, or else I’d take it for granted. I’m confident the value-add in convenience is worth any additional cost.

I can relax as I prepare for morning classes and get ready for the day, knowing I can “turn-up”… eat, shower, dress, go… at a rapid fire pace. It’s also easier to meet with your team(s) before morning classes in preparation for presentations.

If I’m having trouble studying, I can quickly escape the funk with a brisk walk to school. It’s probably not surprising that the ability to focus on academic problems is easier in academic environments. This is especially true for the occasional late-night grind. There’s something mystical about burning the midnight oil in Kalkin 110.

You could even diversify your income through charging your classmates for parking pass privileges (or just rack up the IOU-coffees). Yet the best perk may simply be the ability go home for lunch, make a homemade meal, and rest for a few minutes. Finally, I extend an invitation… I plan on moving out of my apartment by the end of the summer. For those interested in living on Fletcher Place, please reach out and I’ll be happy to provide more information. I’ve spoken with my landlord about this potential arrangement and he’s all for it. This is a wonderful program and I’d love to help anybody in the next generation transition to life on campus. I feel like I’m achieving my goal of becoming a more sophisticated entrepreneur. Now it’s your turn to pursue whatever it is you’re pursuing.

Women for Change: A Lesson in Determination and Perseverance

This post was written by Lauren Masters, Emily Klein, Meryl Schneider, Caitlyn Kenney, Maggie Robinson, and Alyssa Schuetz of the Class of 2019

What started as an idea in September turned into the first formal public event hosted by The Sustainable Innovation MBA (SI-MBA) program’s Women for Change group. Seven months ago, Lauren Masters, a current student of the SI-MBA program said, “I think Holly Dowling would be a great speaker to catalyze and legitimize our group within UVM’s Grossman School of Business and the greater Burlington community.”

With this goal in mind, a group of six women combined their skills, experiences, and minimal free time to jumpstart a new endeavor. The event planning committee included current MBA students Emily Klein, Lauren Masters, Caitlyn Kenney, Alyssa Schuetz, Meryl Schneider, and Maggie Robinson. Little did they know the amount of grit, determination, and perseverance that would be needed to legitimize the Women for Change’s first event held for the Greater Burlington community.

Throughout this process, students learned valuable lessons on how to navigate the world of fundraising, legitimize a club on campus, and overcome challenges that arose in unexpected places. As time passed and checklists seemed to grow, the planning proved to be difficult as students juggled their full-time schedules. There were even moments when they questioned whether, or not they would be able to pull-off the event.  Ultimately, the cumulative shared values of the planning committee proved to be enough as the group banned together until the very end.

On March 21st, over 50 young professionals, business leaders, and SI-MBA students alike were able to see this event come to fruition. Henry Vogt, a SI-MBA student said, “I found the Holly Dowling event to be fun, exciting and inspiring. Not only was it a great networking opportunity, but it was also exciting and thought-provoking. When Holly presented it felt like she was speaking directly to members of the audience. She offered perspective and inspiration on how to be successful, depicted personal stories of how she persevered through adversity, and gave tips on how to live a more fulfilling life. Additionally, it was very impressive that this event was organized by a passionate group of women MBA students, who put in a massive amount of work to successfully fundraise and organize an excellent event.”

As the adrenaline wore off, this small group of women looked at this event as one of the many highs of their overall SI-MBA experience.  Grad student Lauren Masters adds, “We knew we were all working towards a bigger picture of empowering female leaders not only within our cohort but also the greater Burlington community area and beyond. We hope that some of the key insights gained from this event will stick with attendees throughout their careers.”

For more information on the specifics of this event, please check out the following article: Leaning In

MBA Women for Change Hosts Holly Dowling

This post was written by John Turner, Marketing & Media Relations Specialist at the Grossman School of Business.

In a recent study of women in the workplace by McKinsey & Company, the consulting group reported that while for the last four years, companies have reported that they are highly committed to gender diversity, that commitment has not translated into meaningful progress. Women continue to be vastly underrepresented at every level, and only about one in five senior leaders is a woman.

With that as the backdrop, the role and empowerment of women in the workplace was addressed by globally renowned leadership speaker Holly Dowling recently at a special event in Burlington.

Hosted by the MBA Women for Change, a student group of The Sustainable Innovation MBA program at the Grossman School of Business, and Westport Hospitality, guest speaker and change management and leadership expert Holly Dowling led a spirited conversation about women in leadership at the Courtyard Marriott in Burlington.

The event was the brainchild of the MBA Women for Change, a group started in the fall of 2018 to promote and advocate for gender issues in the workplace within The Sustainable Innovation MBA program.

The idea for the event gelled when a personal connection to Holly Dowling surfaced, and the group saw the opportunity to host an event that not only started a conversation around these issues, but was an appropriate way to widen the discussion out into the community, strengthen relationships with other organizations such as the Vermont Women’s Fund, as well as raise the profile and awareness of the program itself.

“Holly was a perfect speaker for us, having an aligned focus and goals of getting women into leadership as a conversation and she gave us this gift with her time and energy to be able to come here,” said organizing committee member Emily Klein ’19.

Meryl Schneider ’19, another committee member said,“it was great to be able to invite other women from all over the community, friends and family, and men, to this event to take part in something like this.”

The event also provided a platform to build bridges, extending the network and encouraging collaboration. Alyssa Schuetz ’19 noted, “it was great being able to establish relationships with other community groups like the Vermont Women’s Fund, the Burton’s women’s group as well as with our donors, to further connect and establish lines of communication.”

She continued, “We deliberately invited men and asked Holly to tailor the conversation so that it was inclusive to all genders, so everyone could get the benefit. Because we know that it’s not just the women who have to make a change, men are a huge part in this. We wanted to make it as open and accessible to as many people as possible.”

Emily continued, “I liked Holly’s message that companies are letting go of diversity and inclusion and are now only talking about inclusion. Because how far are we going to get if there’s all these separate interest groups with all these separate conversations? Acknowledging diversity and creating pockets within an organization is not fully solving the issue.”

Meg Smith, Director of the Vermont Women’s Fund, a nonprofit organization that provides support for women’s economic self-sufficiency, entrepreneurship and an event sponsor said, “this event that brings people together to have a conversation is important as everyone gains strength from one another. The realization that by collaborating, the sum is greater than the parts. There is an ongoing need for women in the workforce, and to create an inclusive, friendly workplace. My organization is focused on positive change for women, but it cannot happen in a vacuum, you cannot do it alone.”

With the success of this initial event, the group hope to continue their work including hosting guest speakers from the Women’s Center and an International Women’s Forum dinner with PhD students and the dean from UVM’s Rubenstein School. The group also realize that with The Sustainable Innovation MBA program being just one year, it’s a challenge to maintain momentum from cohort to cohort.

They plan to stay involved after graduation and provide assistance wherever possible, as some from previous cohorts have done, and hope that future cohorts will continue to build out the work of the group, and keep advocating and pushing for gender issues and equality.

Impact Investing for a Greener UVM

This post was written by Peter Seltzer ’19, Andrew Oliveri ’19, Maura Kalil ’19, and Matt Iacobucci ’19

At the beginning of the academic year, Finance professor Dr. Chuck Schnitzlein introduced an opportunity for us all to spearhead the first Sustainable Innovation MBA impact investing project. The goal of the project was to show the University of Vermont Treasurer’s office how to build a short-duration fixed income impact portfolio that meets its fiduciary and financial constraints.

Given these parameters, our challenge was to build a portfolio comprised of socially and environmentally responsible fixed-income investments that would contribute to making a positive global impact in the areas of our choosing. A group of thirteen Sustainable Innovation MBA students* have been working collaboratively to come up with investment criteria to build out this potential portfolio of bonds for consideration. Through working closely with Chuck, the Sustainable and Responsible Investing Advisory Council (SRIAC), and the UVM Treasurer’s Office, we are now positioned to make our recommendations to the investment manager to implement this strategy.

*Andrew Mallory, Andrew Oliveri, Alyssa Schuetz, Alyssa Stankiewicz, Esteban Echeverria-Fernandez, Emily Klein, Keil Corey, Maura Kalil, Matt Iacobucci, Noelle Nyirenda, Peter Seltzer, Ryan Forman, Tor Dworshak (in no particular order — EDITOR)

Coming into The Sustainable Innovation MBA program, many of us were novices to the emerging field of impact investing. To build our knowledge and immerse ourselves in this new subject, we began organizing and attending weekly learning sessions. Our resources have included articles and research tools, but most significantly, the book The Impact Investor by Jed Emerson, a prominent leader in this field. These resources provided the foundation for our impact investing toolkit that has aided us in determining our impact objectives and screening criteria for the project. Next, we had to learn the tools that investors use to search for and make judgments on assets in real-time.

We trained ourselves to use the Bloomberg terminal, a powerful tool for investors in providing access to real-time financial data. Each member of the impact investing team completed the built-in Bloomberg Market Concepts digital learning tutorial, with particular attention focused on fixed income securities to build out our general investing toolkit. While identifying whether each bond under consideration held the financial metrics needed to fulfill the fiduciary obligations required of the portfolio for the University, we also used the ESG terminal function to help objectively measure the non-financial impact that each bond holds. The ESG function provides non-financial Environmental, Social, and Governance metrics for companies and bonds, which proved to be an invaluable tool for our research process.

While the whole impact investing team was expected to have a solid understanding the “impact” side of the equation, a subgroup of the team has been taking additional advanced finance classes with Chuck on fixed income investing and portfolio management to master the “investing” side. There, this subgroup has been learning key concepts to help the whole team take the next steps towards building a portfolio that is financially sound and well up to the University’s investing standards. This diversification within our team allows for an overall focus on portfolio impact, while the more specialized subgroup could also incorporate the principles of a financially successful portfolio that was consistent with the investment policy statement and integrated impacted criteria.

During our early coursework in The Sustainable Innovation MBA, we learned how many companies have been aligning their business models and sustainability initiatives with the United Nations’ Sustainable Development Goals (SDG). Thus, we wanted to incorporate the concept of impact learned through the program’s curriculum to maximize our portfolio’s impact. As a group, we brainstormed SDGs that were not only important to us but those in which we saw the most potential for global impact. From that list, we selected three SDGs that we determined were best aligned with UVM’s mission and brand image: Clean Water & Sanitation, Affordable & Clean Energy, and Gender Equality.

The first SDG we focused on was ensuring the availability and sustainable management of water and sanitation for all. We looked to find issuers who not only decreased their water usage relative to competitors but also considered the ‘usage relative to revenue’, which was found to be a helpful feature of the Bloomberg terminal. Similarly, it was important for us to find issuers who not only were mitigating negative impacts but rather having a positive impact with regard to clean water stewardship efforts. With a number of UVM students intimately connected to Lake Champlain and its surrounding ecosystems, we realize clean water to be a paramount goal of our investment council.

The second SDG we focused on was ensuring access to affordable, reliable, sustainable and modern energy for all. We determined that impact within this goal can be derived from companies producing sources of clean, affordable and renewable energy, as well as companies sourcing their energy from renewable providers. Companies that our investment council considers for investing need to be making investments in clean technology and energy efficiency, or investments in affordable energy storage technology. In addition, a company meets our criteria if they have a large green power purchase agreement, or is in a contract to source a majority of their energy from a clean, renewable energy source.

The third and final SDG we focused on was achieving gender equality and empowering all women and girls. This SDG was particularly important to our group as many of our group members are part of The Sustainable Innovation MBA Women For Change group on campus. The team developed the following three objective criteria that the corporations offering the bonds should meet for portfolio consideration: female representation in senior management (at least 33%), proven efforts to create equal opportunity for female employee advancement, and women in leadership (CEO, Founder, Chair of the Board).

The thirteen of us have learned much through the process of working on this project, and we are grateful for Chuck, SRIAC, and the UVM Treasurer’s Office for the opportunity. This was a completely voluntarily effort outside of the regular class schedule and curriculum of our academic program. We are fortunate to acknowledge that the dedication of time and effort towards this project has rewarded the members of our team with a new degree of fluency in the field of impact investing and perhaps even more rewarding, a feeling of accomplishment for having the potential to make an impact in alignment with the SDGs and UVM.

We look forward to taking the next steps with this project and seeing how the recommendations of our team might be utilized by the University and beyond. As we have with this project, we are excited to continue finding new ways to incorporate our learning from each and every subject we are exposed to here in The Sustainable Innovation MBA program, building out our sustainable innovation toolkit even further as we progress into the new year.

Onward!

From the Lab to the Marketplace: Using Sustainable Innovation MBA Classes to Advance UVM Tech Development

This post was written by Steven Micetic ‘19

From solar power to vitamin D fortification, universities are a fundamental source of innovation that advances humanity’s ability to live healthy, sustainable lives. And yet research funding, though it often translates into exciting, new intellectual property, typically doesn’t result in innovations that make it to market and drive impact.

Many of UVM’s 13 colleges and schools are at the forefront in their respective fields of research. In 2016, UVM received $138m in outside research funding alone. Much of this funding goes to efforts that align with the ethos of the Grossman School’s Sustainable Innovation MBA program: mitigate agricultural runoff, improve the efficiency of renewable energy generation, and advance access to care and treatment of chronic diseases.

It is within this context that The Sustainable Innovation MBA offers a unique opportunity to young professionals seeking to translate innovation into impact. In the initial weeks of our classes, I reached out to Associate Professor and Steven Grossman Endowed Chair in Entrepreneurship Erik Monsen because I wanted to learn more about the technologies under development at UVM. Within days, Erik and I were meeting with Assistant Professor of Civil and Environmental Engineering Dr. Appala Raju Badireddy. Dr. Badireddy and his team are developing a filter technology that can extract elements from wastewater previously thought impossible or cost-prohibitive to extract.

Initial conversations with Dr. Badireddy led to a group of Sustainable Innovation MBA students addressing one of the key questions in the technology’s underlying business model. Integrating this work into the Entrepreneurial Business Model class, the team spent eight weeks evaluating markets for captured phosphorous. Beyond making for a rich classroom experience, our work may have real-world application as Dr. Badireddy takes this work from the university to the marketplace.

As we move into the latter half of the program and acquire new skills through the our courses, the prospect of continuing to support the success of green technologies like Dr. Badireddy’s filter technology is an exciting one. Perhaps the next great green technology may come from the laboratories of UVM, and perhaps its success may be supported by one of my fellow students.

Photo by Louis Reed on Unsplash

Roomies!

Billy Rivellini ’19 and Adam Figueiredo ’19 (we’re not yet sure who’s Oscar and who’s Felix) found they each needed a place to live and a roommate as The Sustainable Innovation MBA school year approached. This is their story.

Billy:

“The pressure was on, it was mid-July and I did not have an apartment yet for the upcoming school year. Do I try to find someone looking for a roommate? Get an apartment then try to find a roommate? Or do I just find a one-bedroom apartment? Where do I try to live? Should I get a pet-friendly apartment so my dog can come up and visit?

“Then, I see that I just received an email in my freshly assigned UVM email with the subject “Burlington Housing Availability” from a fellow Sustainable Innovation MBA classmate, it sounds like a great deal and location, I’m in. After meeting up with Adam and confirming I would be moving in, I am pumped. Not only do I have an apartment, but I already got to meet a classmate.”

Adam:

Sharing an apartment with a classmate has enriched my experience in the program. I’ve gotten more opportunities to socialize with those I care about outside of the classroom. I’ve also benefited from the added layer of accountability.”

Billy:

Four months into the program and I couldn’t be happier to have a classmate as my housemate. We are on the same schedule, know the same people, and have the same workload. I don’t have to worry about a loud or obnoxious housemate who I have to worry about being a distraction when I’m trying to do work or not having a similar interest. We can bounce ideas off of each other, talk about our work and help each other out when one of us is struggling with a subject (or battle through it together).

“Reflecting upon the decision to room with a classmate couldn’t have been a better one, and I would highly recommend incoming students to consider this option and reach out to one another before the year starts. Not only will you be with someone that has similar interests and motivations (you both chose the program for a reason), you also have a sounding board for your thoughts, someone that can help you with a tough subject and be a lifelong connection in the sustainability and/or business world.”

Adam:

We all need a reminder that class starts in 15 minutes sometimes. I highly recommend the institution.”