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
Veronica Buczak is a graduate assistant at Fordham's IPED (International Political Economy and Development) program. Before coming to Fordham, she was a Peace Corps volunteer in Panama in the Youth Leadership and Development program for two years, and has worked in both the private and non-profit sectors. She has an interest in finance and development, especially with a focus on Latin America, and speaks Spanish fluently. Veronica is thrilled to help Spes Nova continue its mission to empower artisans from around the world.
Vaniala Andriamalala- Co-President
Elizabeth Rengifo-Vega - Co-President
Elizabeth is the Co-president of the Spes Nova club. She has been participating in the club since her freshman year and loves spreading awareness of Spes Nova's mission, as well as learning about the experiences & inspirations of the artisans. She is fluent in Spanish and participates in collaborations between universities with connections to Spes Nova. She's looking forward to a great year ahead!
Jacqueline Groehnert - VP of E-Commerce
Suraya Dolcharran - VP of Finances
Ada Guo - VP of Inventory
Jenna Bunch - VP of Goals Management
Alyssa Nestingen - VP of Sales
Alyssa has been with SpesNova for two years and is currently serving as the VP of Sales. She loves being a part of an organization that helps to promote artisans around the world and is community-centered. This year, she has been working on coordinating the details of sales events and ensuring that Spes Nova products are being effectively promoted during sales.
Jasmin Singh - VP of Instagram Storefront
Jasmin Singh is a junior at Fordham University’s Gabelli School of Business, majoring in Finance. As VP of Instagram Storefront at Spes Nova, she oversees the organization’s digital storefront, specifically managing and maintaining its Instagram Shop to connect products with social media content and drive engagement and sales. She also oversees the organization’s Instagram presence, promoting products created by underserved artisan communities in the South. She helps showcase products and their stories while driving traffic to the online storefront to increase sales and raise awareness of Spes Nova’s mission. She is passionate about supporting the organization’s mission and values and hopes to apply the skills and experiences she gains to her future career.
Arhana Karsaliya - Secretary
Sophie Stoessel - Outreach Coordinator
Sophie Stoessel is a Junior at Fordham University and a Social Work major. She is the Outreach Coordinator for SpesNova, and manages sales communications and relationships with on- and off-campus resources. She is passionate about supporting the livelihoods of Spes Nova's artisans, especially those coming out of difficult situations.
Shaan Agarwal - Finance Associate
Shaan Agarwal is a second-year Fordham University student with a major in FInance and minor in Economics. He is so excited to be working on the Finance team and serving as a finance associate. Shaan looks forward to working with everyone this year and to helping an organization like SpesNova achieve its goals of sustaining and advancing inclusive global development.
Luke Randolph - Inventory Associate
Adeena Naeem - Outreach Team
Adrina Ibraimi - Communications Associate
Adrina Ibraimi is a first-year Fordham University student with an intended finance major. She is extremely excited to serve as a member of the communications team. Adrina is more than happy to be apart of such a special organization like SpesNova and continue to report on sales and current SpesNova events. She is driven to fostering its mission for the future!
Adelaide Schroeck - Post Generator
Adelaide Schroeck is a first-year Applied Accounting and Finance Major. She is also pursuing a minor in German. She is a Post Generator for SpesNova and applies her passions for ESG to her work within the club.
Mary Lund - Outreach Team
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.