College students from Columbia University, New York University and Lehigh University now have the opportunity to design an exchange traded fund (ETF) that will be available for investors in the spring.

Clear Indexes, in collaboration with Facebook, are giving select college students the opportunity to create the ETF as well as win $4,000 and a paid internship through the "Clear Next Generation ETF Contest." Participants may submit up to five ETF ideas. Each theme must be described in detail, including its appeal to investors. The deadline for the contest is Nov. 26. The winners will be announced on Facebook and via a press release.

Imagine all the top business students at the three participating universities falling over each other to design the coolest ETF ever to hit the market. This one will definitely be one worth watching.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.