How will you change the world with US$1 million? Apply for 2017 Hult Prize Student Enterprise Challenge
Application Deadlines:
- Second Application Deadline: 30th November 2016
- Final Application Deadline 11:59pm EST: 23rd December 2016
To be Taken: at any five Hult Prize regions. Grand Prize of $1,000,000 will be awarded at Washington D.C
About Award: The Hult Prize Foundation is a start-up accelerator for budding young social entrepreneurs emerging from the world’s universities. Named as one of the top five ideas changing the world by President Bill Clinton and TIME Magazine, the annual competition for the Hult Prize aims to create and launch the most compelling social business ideas—start-up enterprises that tackle grave issues faced by billions of people. Winners receive USD1 Million in seed capital, as well as mentorship and advice from the international business community
Theme: The 2017 Hult Prize “President’s Challenge” is “Refugees – Reawakening Human Potential” and will focus on restoring the rights and dignity of people and societies who may be, or are forced into motion due to social injustices, politics, economic pressures, climate change and war.
- Hult Prize Foundation is estimating the total number of global refugees to be at 1 billion, not the UN and generally accepted number of 60M.
- The refugee cycle has been re-defined into 4 stages; pre-movement, in-motion, temp relocation, permanent status
- The 2017 Challenge outlines very clear areas for disruptive innovation in each stage of the cycle
- Refugees present one of the world’s largest untapped economic opportunities
- Reawakening human potential in refugees in motion unlocks the need for social innovation across a range of social service categories.
This case study is your guiding document to constructing your social venture. It will be released in early October. It has been written exclusively for this year’s Hult Prize, and takes a deep dive into the journey of a refugee, from the moment in time that movement becomes a possibility – not a reality. Where other organizations have failed, we believe the Hult Prize can be successful by challenging young people around the world to reimagine how to turn one of modern days fastest growing challenges into the greatest renaissance of entrepreneurship the world has ever seen. Rather than focus on aid and charitable approaches to refugee migration, we focus this challenge on the reawakening of human potential. We want to restore pride, dignity and self-worth back to those what have been impact by social injustices, war and economic depression. We believe that reaching our target of 10M people by 2022 is realistic and bold.
The “2017 President’s Challenge” and guiding document can be downloaded in link below.
Selection Process:
- You will be asked to form a team of 3-4 students from your university and submit an application to participate at any of the five regional finals locations held in: Boston, San Francisco, London, Dubai and Shanghai. Alternatively, your university may be hosting a Hult Prize@ on-campus event, in which case you can fast track your team’s participation through competing in your local university edition. You can view a preliminary 2017 timeline here, which outlines submission deadlines, finalist announcements and key event dates.
- Regional Finals will be held on March 03-04, 2017. Approximately 50-60 teams per region, will move on to present their innovative start-up ideas to an executive jury made up of regional CEOs, Non-Profit leaders and Social Entrepreneurs. When you apply, you should carefully consider which regional final you would like to attend. While we encourage you to pick a region within proximity to where you currently live, you are free to choose any of the five regions. A regional champion will be selected live at the conclusion of each regional final event and that team will move onto spend the summer at the world-class Hult Prize Accelerator – an innovative incubator for the start-ups of the future.
- Following the conclusion of your time working in the Hult Prize Accelerator, you will attend the Hult Impact Forum where the Hult Prize Global Finals will be hosted in September, 2017 in Washington, D.C. Within the meeting agenda, regional champions will pitch their start-ups in-front of a world-class audience, including Muhammad Yunus, who along with other notable global leaders will select and award the winning team the Hult Prize, along with USD1 million in start-up capital.
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