The UCLA Net Impact Consulting Challenge will conclude Saturday in the Lenart Auditorium, allowing graduate students to present business recommendations to local nonprofit organizations.
The event is hosted by the UCLA Anderson School of Management. It began Feb. 17, when 66 graduate students were paired with 12 non-profit groups. Work with the clients commenced immediately, said Jenny Trucano, a second-year Anderson student.
The annual event allows the graduate students to apply their business knowledge to consult and formulate recommendations to improve the financial outlook of their client company.
Organizations like the Amyotrophic Lateral Sclerosis Association, Los Angeles County Bicycle Coalition and Breathe L.A. are involved in the challenge, Trucano said. These organizations focus on improving social welfare, including amyotrophic lateral sclerosis treatment and research, alternative transportation and air pollution.
The students involved in the project come from the UCLA Anderson School of Management, the UCLA School of Public Affairs and the UCLA School of Public Health, she said.
The teams will present their projects to a panel of 10 judges and will be scored based on the quality of their business plan, Trucano said.
The top three groups will present their project in the final round of judging, which will then determine a first, second and third place team, she added.
Monetary prizes are awarded based on performance, with a $2,500 prize for first place, $1,500 prize for second place and $1,000 prize for third place, said Clodagh Rafferty, a second-year Anderson student.
The teams of five or six graduate students split the money and the Net Impact Consulting Challenge follows up with the nonprofit organizations to assess their progress, she said.
Angela Klein, the program manager of the Harold and Pauline Price Center for Entrepreneurial Studies at the Anderson School of Management, said, “It’s a pleasure to see students getting involved in positive social welfare change as well as gaining hands-on experience.”
The Price Center is involved in the administration and funding of the challenge, as well as several other programs with socially conscious goals such as the Haskamp Fund and Project ECHO, Klein said.
The Haskamp Fund provides students with a small stipend to work with nonprofit organizations during the summer, while Project ECHO offers at-risk high school students with the opportunity to receive mentoring and develop business plans of their own, she added.
The Price Center provides students with opportunities like the consulting challenge to give students the ability to connect with successful people in relevant fields as well as gain valuable experience in a realistic setting, she said.
The final round of presentations for the challenge is scheduled to be held this Saturday from 3:30 to 5 p.m. in the Lenart Auditorium in the Fowler Museum. The event is open to the public.