Every year, Hult Prize (Home (hultprize.org) has given USD $1M annually to a startup with a world-changing idea for a social enterprise that addresses a specific topic. The competition challenged teams to address global issues like clean energy, early childhood education, and sustainable food production. Hult prize funded businesses that solve transportation issues in Kenya, develop equitable and sustainable tourism options in Mexico, and make healthcare more accessible to people in poverty in India. This year, students can pitch any idea for a social enterprise, as long as it is world-changing and aligned with at least one of the United Nations Sustainable Development Goals (SDGs). Students get to decide what problem they want to solve, as well as the business idea to solve it. There are different steps to be taken. First, students choose an area of impact they feel passionate about, and which is aligned with one or more of the Sustainable Development Goals of the United Nations. Second, a team of between three and five students on our university campus is created. Third, the team brainstorms solutions using Design Thinking, an innovative approach to problem-solving developed by Ideo based on human-centered design. Once an idea is created that has real potential, the teams dig in to create a business with components such as minimum viable product, competitive differentiation, a go-to-market plan, financial projections and a business model. The team will also need to carefully craft a persuasive presentation with relevance, practicality and focus that will really wow the judges. For more information about the process please consult the following website:
Hult Prize 2024 Unlimited (storyblok.com)
If you’d like to participate for the 2023/2024 competition, join the WhatsApp group below.
*You can Join the group if;*
1. You’ve a great business idea and would like to participate in the competition
2. You’ve got a skill (graphics design, programming, marketing, management etc) and would like to be paired in a team so as to also participate in the competition
3. You’re just seeking to network with fellow student entrepreneurs. (we have a line up of exciting events coming up)
4. You’re generally enthused about the startup world and would like to broaden your knowledge
5. Would like to Win $1M grant prize for your business idea.
To join our WhatsApp group:
https://chat.whatsapp.com/C8z0WXoJkjoIWvkkVaabpf
To watch the beautiful moment of 2022/2023 Hult prize global finals:
https://youtu.be/9dr9IjaXTFQ?si=REJw6gZodnRmgSIG
To pre-register your business idea for 2023/2024 (Deadline 28, October):
https://forms.gle/EQnv8oWoPB3WFX6N9
To contact us:
hultprizeschmalkalden(at)gmail.com
Kind regards from Ovie Uwode (director of the program in Schmalkalden)