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Wharton Impact Venture Associates (WIVA) is an experiential education program that gives a cohort of students from across the University of Pennsylvania hands-on, real-world experience in impact investing.

Started in 2018 and now in its eighth year, WIVA models the venture capital fund experience, with student teams evaluating and pitching early-stage companies each week. To date, WIVA has sourced more than 3,000 social impact companies and spurred more than $3 million in investments.

Passionate students from across Penn and Wharton apply to the WIVA program, with some citing it as a reason they chose to attend Penn. Participants receive guidance and training from Wharton Impact staff and industry consultants on topics including engaging with founders, market research, business and impact analysis, and the fundamentals of investment analysis. Throughout the year, they apply those skills to researching early-stage companies that have a compelling business model and the potential for significant social or environmental impact.

Each week, students present their company research against financial, operational, and impact criteria. They come prepared with several companies they feel are worth further research. In presenting to their fellow students, Wharton Impact staff, and industry consultants, participants wrestle with difficult questions, defend or revise their positions, and incorporate feedback. These robust conversations draw on the interdisciplinary expertise of WIVA’s cohort. WIVA may, following our students’ research into a company, connect the company founders to crowdfunding platforms (though Wharton and WIVA make no representations about such platform’s interest or the success of any crowdfunding campaign).

This year, an interdisciplinary team of students—Wharton undergrad William Kim (W’27), Wharton MBA Phong Nguyen (WG’27), and School of Arts and Sciences PhD Eric Yin (SAS’27)—sourced Greenopia.

Eli Emigh, Program Manager of Impact Investments, shared, “A core goal of the WIVA program is to foster student learning through engagement with real-world ventures. Greenopia is an excellent example of how students across Penn collaborate and engage in in-depth business and impact analysis of an early-stage venture.”

Greenopia was founded in 2005 by sustainability expert Gay Browne as a printed guide highlighting eco-friendly businesses. It has since evolved into a digital platform that connects consumers with companies focused on health, environmental responsibility, and social impact. The company aims to make it easier for consumers to identify businesses that align with sustainability values in a fragmented marketplace. 20-year ex-Google veteran and Greenopia COO Jon Cross is responsible for launching their digital platform.

The platform enables users to discover and support local businesses that meet certain sustainability criteria, with listings that outline qualifying practices. It serves as a centralized directory intended to increase transparency and help users distinguish between verified sustainable businesses and those that may engage in greenwashing. It also includes search tools, tags, and occasional promotions to simplify decision-making for consumers. Greenopia launched its app in the Apple Store and Google Play on Earth Day in San Francisco and is adding businesses daily, expanding to other cities across the US.

Photo Credit: Greenopia

Kim became excited about Greenopia after his first conversation with the founder. “I’ve always believed consumers should have greater autonomy through access to transparent information about the companies they purchase from and engage with, so Greenopia’s mission strongly resonated with me, and that alignment ultimately made me want to source the company.”

Browne shared, “I started Greenopia because I wanted to create a healthy and sustainable lifestyle for my family. To do that, I needed to get past the greenwashing and really understand what made these businesses more sustainable than the others. My curiosity led me to develop a rigorous verification process that screens businesses based on sustainability for people and the planet, using three pillars: Good for you, Good for the planet, and Good for the Community. Greenopia’s goal is to turn consumer intent into a market force for sustainable spending by making it easier for individuals to find businesses that match their values.”

Reflecting on the experience, Kim shared, “Beyond the mission itself, this experience has been incredibly transformative in helping me better understand how an early-stage company operates and scales.”

The WIVA program returns in the fall. All Penn and Wharton students are welcome to apply; sign up for our newsletter to be notified when applications open in late summer.

DISCLAIMER:

Neither the University of Pennsylvania, the Wharton School, Wharton Impact Venture Associates (WIVA), nor any of their respective students, faculty, directors, officers, employees, representatives, affiliates, or agents (collectively, the “Penn Parties”) (i) is acting as underwriter, broker-dealer, promoter, financial advisor, or other intermediary with respect to any offering of securities by any entity mentioned in this article, or (ii) has received or will receive any compensation from any person or entity as an incentive to publish of this article. In addition, the Penn Parties have not received and will not receive any compensation or other item of value in connection with any possible or future investment in any securities issued by any entity mentioned herein.

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