Clear Indexes is holding their second student contest for best exchange traded fund (ETF) idea.

The Second Clear Next Generation ETF Contest boasts a $5,000 prize and a paid internship, plus the chance to see their index become published. The previous Clear Next Generation ETF contest was held late last year, was limited to three select colleges and was such a success that not only has the prize money grown, the list of colleges has been extended, reports the Centre Daily Times.

The contest is being run by professors, student activity offices and career centers from the following schools: Johns Hopkins University, Wharton School of the University of Pennsylvania, Harvard, Cornell, York, Middlebury College and Pennsylvania State. Any student who attends one of these universities is eligible as long as they have a valid e-mail address.

James Baker, 18, of NYU won the first contest, with the winning idea of a U.S. exporters index based on the growing global economy, capitalizing on the falling U.S. dollar and consisting of large- to mid-cap companies.

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