About Spes Nova - Supporting Global Artisans
Spes Nova, meaning “New Hope” in Latin, is a 501(c)(3) non-profit whose mission is to help establish sustainable and inclusive development in the poorest regions of the world by collaborating with an extensive global network of academic institutions. The organization is built upon its proprietary Three Pillar Approach to economic development: market development, micro-credit, and micro-insurance.
While donations and aid are both welcomed and needed in undeserved communities, sustained and scalable improvements in income and living standards require new approaches to development that instill dignity and independence. Entrepreneurship is a potential key. However, many organizations seeking to assist these budding business owners, unintentially create more harm. Such schemes include expensive microfinancing that results in a cycle of debt, purchasing products then not returning, providing equipment but no training or maintence. The list goes on.
Leading economists and development experts have carefully crafted Spes Nova’s model to create a new form of development that addresses these pitfalls. We identify and build relationships with global artisans in low-income areas through our network of reputable, mission-driven universities worldwide. We can strengthen these artisans’ businesses by providing interest free pre-production loans, product design assistance, and access to new markets on an ongoing basis. This process allows the businesses to develop, providing sustainable employment and income for the artisans, their families, and their communities.
By purchasing a product or providing a loan on our site, you are contributing to a positive cycle of growth and prosperity!
Three Pillar Approach
Spes Nova's proprietary model to development aims to alleviate poverty in some of the poorest regions of the world by offering local artisans access to capital, robust markets, and insurance products:
Micro-Credit
Academic institutions in the Spes Nova network analyze market trends and order products from artisans, which creates the immediate need for pre-production funding (working capital, funds to pay raw materials, and additional labor, among others). In general, local artisans rely on shark lenders, pawn loan providers, or microfinance institutions (MFIs) that charge them high-interest rates (typically between 20 to 40% per year). To help artisans reduce these financial costs, Spes Nova created a crowdsourcing section of this website, allowing consumers like you to sponsor small pre-production loans by selecting local artisans from the Spes Nova database. In addition, many partner universities raise funds for an initial purchase from our artisans, and then use the net earnings from sales to repurchase more products.
Market Development
Many artisans and craftsmen in developing countries face limited consumers in their local markets and/or rely on tourism (which can be unpredictable - especially in a world with pandemics). Through its e-commerce site, Spes Nova provides a platform for these producers to access the global marketplace. Students and faculty at our partner institutions around the globe utilize market-research tools to assist artisans with product design, quality control, cost analysis, pricing, and environmentally friendly production. When products are finalized and recieved by the US university, they are then uploaded to this site...where they meet their future owner!
Insurance
The world's poorest regions are not only some of the most vulnerable to catastrophic events but also the least protected by insurance. The working poor is exposed to natural perils (such as hurricanes, floods, and earthquakes) that can simultaneously wipe out all their assets (housing, clothing, and personal possessions) and their means for making a living. At Spes Nova, we don't want to see our artisans, or any small-scaled business owner, work so hard building an enterprise for it to disappear overnight. That is why we are preparing low-cost insurance products to protect their hardwork and those of others in their region.
These three approaches are mutually supportive, and when put together, provide a sustainable, inclusive path towards prosperity for the working poor.
Spes Nova Corporate
Erick Rengifo Co-Founder, ED
Erick Rengifo is an associate professor in the Economics Department at Fordham University. He is a co-founder of Spes Nova Inc, a non-profit corporation whose main goals are to provide funding to microenterprises, assist in market creation, and provide insurance products for the working poor worldwide. He is also the founder and director of the Center for International Policy Studies and an active scholar interested in market development, microfinance, micro-insurance, market microstructure, behavioral finance, risk management, insurance, and econometrics.
Professor Rengifo is a private consultant in algorithmic trading, investments, risk management, microfinance, and micro-insurance. He holds a Ph.D. in economics with a concentration in finance and econometrics from the Catholic University of Louvain-Belgium.
Steve Carlsen Co-Founder
Steve Carlsen is a co-founder of Spes Nova and continues to serve as a Director. Steve has a 35-year career in the insurance and reinsurance industries, specializing in underwriting, pricing, and managing catastrophic risk. He was an early developer of capital consumption models by applying modern portfolio theory to insurable risk. Steve Carlsen was a co-founder of Endurance Specialty Holdings (ENH), where he continues to serve as a Director and member of its Risk and Finance Committees. He also provides consulting services to private equity groups and hedge funds investing in the insurance and insurance services sectors. Steve has an undergraduate degree in Mathematics from Cornell University and received his Ph.D. in Economics from Fordham University in May 2013.
Dana Nelson Strategic Advisor
Dana Nelson is an experienced researcher and practitioner in corporate responsibility, human rights advocacy, and sustainable development. In addition to running Spes Nova, she serves as a social impact consultant for a large-scale investment firm. She was previously sponsored by USAID to serve on the social compliance team of Ethical Apparel Africa in Ghana. She also served as a strategy and investment analyst for Equivico, a woman-owned investment management firm focused on expanding access to capital for underserved entrepreneurs.
She holds a B.A. in International Political Economy from Fordham University, where she served as President of Students for Fair Trade and the Strategic Lead for Spes Nova from 2015 to 2018. She also holds a Master’s Degree from the internationally recognized Center of Development Studies at The University of Cambridge in the United Kingdom.
Fordham University Team Members
Abdi is currently studying in the graduate program in International Political Economy and Development at Fordham University. As an undergraduate, Abdi double majored in Applied Mathematics and Economics with a minor is Data Science. He worked as a research assistant for over 2 years.
Sharan Sekhon Graduate Assistant
Sharan is a recent graduate of Northeastern University's B.S. in Politics, Philosophy, and Economics program. Concentrating in International Political Economy and Logic & Game Theory, she found that she is curious about the intersection of development and humanitarian work. She has interned full-time for 6 months in the Center for Applied Non-Violent Action and Strategies based out of Belgrade Serbia as well as interning full-time in a private recruitment consulting firm. She also spent 3 summers learning about conflict, diplomacy, and development in (2021) Serbia and Bosnia & Herzegovina, (2022) Switzerland, and (2023) Rwanda. Sharan is interested in pursuing a career where she gets to explore conflict economics, development, and humanitarianism.
Juliana Tulio- Co-President
Juliana Tulio is a third-year marketing student at Fordham University’s Gabelli School of Business. She is so excited to serve as a Co-President of Spes Nova! Juliana loves Spes Nova’s mission and wants to continue gaining support for the organization’s international artisan partners!
Elizabeth Rengifo-Vega - Co-President
Trent Miller - VP of Finances
Trent Miller is a member of Fordham’s class of 2026, seeking an undergraduate degree in Public Accounting. He serves as the Vice President of Finances for Spes Nova’s Fordham chapter. Trent is eager to make a difference both in the organization and towards the artisans themselves.
Sukhmani Kaur - VP of Finances
Sukhmani Kaur is a third-year student at Fordham University majoring in Public Accounting. As the Vice President of Finance at Spes Nova, she skillfully manages all financial operations, including overseeing accounts payable and receivable. She has been a part of Spes Nova since her first year and takes great pride in spreading Spes Nova’s mission within the Fordham community and beyond.
Carlota Rahola - VP of Inventory
Carlota, a current Senior at Fordham College at Rose Hill, is pursuing a double major in International Studies and New Media and Digital Design. Over the past two years, she has actively contributed to Spes Nova as an Account Manager. Her passions lie at the intersection of business and humanitarianism, focusing on aiding the global economy and developing nations.
At Fordham, she also serves as the President of the Self-Defense Club and is part of the alum relations committee at Fordham Marketing Association, USG Sustainability, and USG International Integration. With her past experiences and skills, Carlota aspires to make a meaningful impact in advancing Spes Nova's mission and supporting the artisans and non-profits associated with the organization.
Julia Mancini - VP of Inventory
Julia Mancini is a senior at Fordham University's Gabelli School of Business majoring in Business Administration with concentrations in Business Economics and Management. Julia was drawn to Spes Nova because of her interests in sustainable economic development and environmentally & socially responsible business. Her experience includes interning at Fordham’s Office of Sustainability where she researches emerging sustainable technologies targeting food waste solutions and microplastics. As part of the Fair Trade Entrepreneurship class, she aims to promote Fair Trade on Fordham’s campus and internationally, hoping that we can come to cross-cultural solutions to global inequity.
Emma Fernandez - VP of Sales
Camila Pérez Martorell - Secretary
Camila Perez Martorell is a first-year student at Fordham University’s College at Rose Hill. She is excited to serve as the Secretary for Spes Nova and looks forward to contributing to the organization’s mission. Camila is eager to learn, engage, and collaborate with fellow members to make a meaningful impact.
Alianna Malcolm - Inventory Associate
Alianna Malcolm is a second-year political science major at Fordham University. She is thrilled to be the Spes Nova Inventory Associate for this year! Alianna is passionate about Spes Nova's purpose and wants to keep advocating for the group's global artisan partners!
Ada Guo - Inventory Associate
Ada Guo is a second-year Fordham Rose Hill student majoring in Economics. She is grateful for the chance to work as an Inventory Associate for Spes Nova and looks forward to it!
Margaret Craney - Outreach Coordinator
Margaret Craney is a third-year student at Fordham University majoring in Psychology with a double minor in Spanish and Fashion Studies. She is excited to participate in Spes Nova this year as the Outreach Coordinator. Margaret loves to share Spes Nova’s mission by connecting small artisans to the larger community of Fordham.
Karen Wesner - Sales Associate
Karen Wesner is a junior majoring in Biological Sciences at Fordham University. She is involved with Spes Nova, an organization dedicated to promoting reciprocal practices in business. In her work, Karen analyzes the underlying structures that impact business growth in impoverished regions, challenging traditional merit-based and profit-driven frameworks. She addresses persistent power dynamics associated with ‘responsibility’ and ‘success.' Through Spes Nova, Karen advocates for critically re-examining existing economic systems to foster equitable development.
Anoushka Pal - Instagram Storefront Manager
Anoushka Pal is a first-year student at Fordham University’s Gabelli School of Business with an intended major in information systems. She is excited to serve as the Instagram Storefront Manager for Spes Nova! Anoushka is excited to be part of Spes Nova and wants to support the organization's international artisans!
Natalie Kamble - Social Media Coordinator
Natalie Kamble is a senior at Fordham University's Gabelli School of Business, majoring in Business Administration with concentrations in Management and Marketing. With a passion for empowering communities, Natalie is excited to serve as this year's Social Media Coordinator with Spes Nova, where she aims to use her marketing and project management skills to foster economic growth and independence for global artisans through sustainable and ethical business practices.
Ananya Mukherjee - E-commerce Coordinator
Ananya Mukherjee is a first-year student at Fordham University’s Gabelli School of Business with an intended major in Finance. She is very excited to serve as this year’s Spes Nova E-commerce Coordinator. Ananya loves Spes Nova’s mission and commitment and can’t wait to help gain support for the organization’s international artisan partner.
Emma Kitchen - Social Media Associate
Emma Kitchen is a third-year student at Fordham University. She is a double major in Political Science and American Studies on the Pre-Law track. She aspires to attend law school, pass the bar, and become an attorney. This is Emma’s first year with Spes Nova. As the Social Media Associate, she is excited to connect with Fordham students and spread the word about Spes Nova.
Vaniala Andriamalala - Post Generator
Vaniala Andriamalala is a first-year Fordham University student with an intended environmental studies major and an economics minor. She is so excited to serve as the Post Generator for SpesNova! Vaniala is so excited to be a part of something as amazing as SpesNova and wants to continue to foster its mission for the future!
St. Thomas Aquinas College Team Members
Desiree Bermudez / Team Member
TBD
Pontificia Universidad Javeriana Cali Team Members
Father Luis Felipe Gómez Director of Javeriana Cali University
Father Luis Felipe Gómez Restrepo S.J. is a lawyer with a master's degree in Economic and Business Sciences, a philosopher from the Pontificia Universidad Javeriana, and a theologian from the Sèvres Center of the Society of Jesus in Paris. He has been a teacher at the 2 Javeriana campuses and three other universities. He was also dean of the Faculty of Economic and Administrative Sciences of Javeriana Cali.
Fabián Fernando Osorio Tinoco Dean - Faculty of Economic and Administrative Sciences of Javeriana Cali University
Dean of the Faculty of Economics and Administrative Sciences of the Pontificia Universidad Javeriana sectional Cali. D. in Administration. He has been director of the Department of Organizational Management of the same faculty and director of the Center for Consulting and Continuing Education of the university. As a Senior Researcher of the Ministry of Science, Technology and Innovation of Colombia, his research focuses on Entrepreneurship, Innovation and Strategic Marketing. He is currently part of the International Network on Global Entrepreneurship Research, Entrepreneurship Monitor (GEM Colombia) and has published numerous books on innovation and entrepreneurship and his most recent articles have been published in international journals such as Management Decisions, Journal of Entrepreneurship in Emerging Economies, among others. Professor in graduate courses in Organizational and Management Theory, Innovation and Value Creation, Product development and Branding; and in doctoral seminars in Entrepreneurship, and Innovation Management.
Ricardo Castaño Robledo Management Department Director - Faculty of Economic and Administrative Sciences of Javeriana Cali University
Department Director. Doctoral candidate in Economics, Master in Economics and Management Sciences, MBA and postgraduate degree in Marketing. He has worked as a professional in International Market Intelligence in alliance between the Pontificia Universidad Javeriana and Proexport (now Procolombia). He has worked in marketing and sales areas in companies of commerce, telecommunications and vehicles. He is currently a professor, consultant and researcher in marketing issues within the Department of Organizational Management.
He has experience in business consulting supporting the design of local and international marketing plans with SMEs; he participated in the design and implementation of the Mercatería consumer laboratory, and has academically coordinated the Marketing area in the Department of Organizational Management. Her scientific research interests focus on consumer behavior in physical stores and using digital media.
María del Pilar Gómez Vallejo Spes Nova project Leader of Javeriana Cali University
Master in Education: Human Development, from the University of San Buenaventura Cali, Specialist in Environmental Management and Sustainable Development from the University Santiago de Cali and Business Administrator from the University San Buenaventura of Cali. She is a certified Coach in Emotional Intelligence, the use of the diagnostic tool Disc, for human management processes and Change Management with Kotler's methodology. She has been director (E) of the Department of Organizational Management and director of the Department of Accounting and Finance. She has had extensive academic experience at the University of San Buenaventura Cali and the Pontificia Universidad Javeriana Cali in the Faculty of Economics and Administrative Sciences since 1999, in management and entrepreneurship. Research professor in the area of Education in Entrepreneurship and Management Skills. Author of the book Mentalidad Emprendedora (Entrepreneurial Mentality). Expert in active teaching-learning methodologies (AC, POL, EC), she directs undergraduate work of the Faculty's master's degree programs in case studies that she continues to develop and publish them in specialized case study journals, such as SCR or JCRI. He is a member of the International Network of Jesuit Universities, IGNITED. She leads the Interinstitutional Project of Fair Trade SPES NOVA Javeriana Cali in alliance with Fordham University NY.
Valentina Padilla Calvo Spes Nova project assistant of Javeriana Cali University
Valentina Padilla is a fifth semester student of international business at the Pontificia Universidad Javeriana Cali. She is also a representative ultimate athlete, which has allowed her to develop communication skills, responsibility and leadership.
Despite being the first work experience within the university, one of her main interests is learning about international economics, bio-economy models and circular economy that favors the growth of agricultural and industrial competitiveness without neglecting the care of the environment and human values that support the development of society.
Whitney Lozada Aguirre Spes Nova project assistant of Javeriana Cali University
Whitney Lozada is a current student of international business at the Javeriana Cali University and has a Technician in commercial accounting and financial operations. She is interested in learning about logistics and also about the global economy and how to improve without leaving aside social responsibility. Being part of Spes Nova fits perfectly with her beliefs and values of contributing to a more sustainable world. Within Spes Nova she seeks to support the welfare of people, acquire new experiences that she can use to benefit the most vulnerable people and learn from others through teamwork, while strengthening her professional life.
ITESO - Universidad Jesuita de Guadalajara
Sofia Ruy Sanchez Rodriguez
Sofia is in her last year of the Global Trade and Business major. She sees herself in the logistics or purchasing areas after graduating. Sofía has studied abroad twice, in the US and Slovakia, and this has helped her to become more empathetic and grow as a person. What she likes the most about Spes Nova is its goal of spreading awareness about Mexican artisan´s capabilities and helping them to have a better quality of life through the sale of their products. She is very excited to be part of this project.
Alessandra Felix Rodriguez
AIessandra is a Global Trade and Business student at ITESO, she spent a semester studying abord on Almería, Spain and another in Vancouver, Canada, and plans to get a master´s degree in Business Psychology at the University of Barcelona. She will be a senior this December and is excited to work with Spes Nova and help artisans export their products and expand their portfolio of clients.
Brandon Alcala Perez
Brandon is currently a student of Global Trade and Business at ITESO. He is interested in logistics, supply chain, and consulting for his professional life. What he likes most about Spes Nova is having the opportunity to prove that he has the skills and knowledge to help others get involved in the global market. Brandon is glad to work with Spes Nova, for him it is a great opportunity to start getting involved in a real strategic planning project and he hopes to leave his mark on other people's lives.
Irlanda Barragan Horta
Irlanda is a Global Trade and Business student at ITESO, with a special interest in logistics, she plans on working in that area after graduating. She is currently working in the purchases area of a company. Having the opportunity to study abroad and visit different countries has made her appreciate the Mexican culture and traditions and want to share them with others. She is excited to be part of Spes Nova and be able to boost the economy of Mexican artisans who have the potential to export and share their art with other cultures.
Luz Elena Ochoa Lopez
Luz Elena is a Global Trade and Business student at ITESO. She is interested in logistics and is currently working at a foreign trade consulting firm. She had the opportunity to study in Hungary, which made her develop multicultural competencies and adaptability. She’s looking forward to positively impacting her community and helping share local artisans’ work through SPES NOVA’s project.
Josue Quezada Ramos
Josue is a currently an International Commerce and Business student at ITESO. His participation in different social-economy projects has made him aware of the global population necessities where he wants to have a positive impact. He is currently working at IBM in international asset management. Josue is a passionate on innovation, he believes that to achieve a more sustainable way of living, as well as translating ideas into real-life projects with a responsible, equitable, and viable planned design we need it.
Alejandro Orendain Sánchez
Alejandro Orendain Sánchez is an undergraduate student in Industrial Engineering at ITESO. He is interested in manufacturing production lines, sales, international business but mostly in solving problems, organizing work processes, reducing waste, increasing efficiency and improving the end result. Alejandro has worked in the tequila industry, acquiring experience in agriculture, production, and sales. He is currently working as sales director in a company that distributes construction material. Working with Spes Nova has given him better understanding of the process required to achieve and export, while working and learning from his teammates.
Carlos Riggen Ramirez
Mr. Riggen is an associate professor in the Business School at ITESO, teaching International Business Consulting and as part of the PAP program, working with local companies and entrepreneurs for the development of their capacities for exporting. His professional career in the private industry began in 1990 in companies of various types, always as head of the International Trade area. He is currently the Managing Partner of a consulting firm specializing in international business. He holds an undergraduate degree in Industrial Engineering and a master’s degree in Global Marketing, both at ITESO.
Carmen Valeria Lucero Higuera
Carmen Valeria Lucero Higuera is an undergraduate student in Marketing from ITESO. Her interests are in sustainable business, marketing research and in creative industry. She has experience in promotion in social media, sales, and market research. Being part of the Spes Nova project is a great opportunity to learn about sustainable products, marketing research and working with people and institutions of other countries that will help her grow professionally.