The HULT PRIZE Challenge 2018
In this year’s, The Hult Prize Challenge 2018, I had the privilege of taking part in the university level competition with colleagues from Vanderbilt University; Andrew Beninger (MBA ‘19), Rachel Willis (MS Nursing ‘18) and Hina Sherwani (GPED ’19). This year’s theme focused on “harnessing the power of energy”. Our proposed innovative idea was “Survey for Sustainability”, a combination of Kiva and Survey Monkey; that will incentivize people who typically fill out surveys for money to redirect their funds to a sustainable energy project of their choice in developing nations. The 2018 Hult Prize Challenge was very competitive where remarkable and innovative ideas were presented. At the end, even though my team did not win the first round, I have learned a great deal about innovative thinking, group processing, and pitching. To give you a background of the Hult Prize, I have added some information below from http://www.hultprize.org.
In 2009, an enterprising MBA student at Hult International Business School named Ahmad Ashkar had a compelling idea—leverage the crowd to generate startup ideas from young people to sustainably solve the world’s most critical social challenges. Through the help of Hult, he acted on it. Today, the Hult Prize is the world’s biggest engine for the launch of for-good, for-profit startups emerging from university with over 2500 staff and volunteers around the world. In nearly a decade, the movement has deployed more than $50M of capital into the sector and mobilized more than one million young people to re-think the future of business as it continues to breed disruptive innovation on college and university campuses across 100 plus countries. The Hult Prize Foundation has been called the “Nobel Prize for Students” and has been featured in a TIME Magazine Cover Story highlighting the “Top 5 Ideas Changing the World.”
The Hult Prize challenge young people to solve the world’s toughest issues by empowering them to make money, do good and make life better for millions of people through the creation of for good for-profit businesses.
Through leveraging human capital, knowledge and the crowd like never before, the Hult Prize has helped launch social enterprises that share the common facets:
- Serve the least fortunate
- Tackle humanity’s greatest challenge
- Pursue revenue and sustainability
- Use existing channels
- Create a market efficiency
- Pursue large, untapped markets