Hult MBA Brochure 2019/20 19Hult_MBA_Brochure_joomag - Page 106

Creating businesses for a better world The Hult Prize is a worldwide student competition that challenges university teams to solve the most pressing global issues with viable business ideas. Ideas that change lives Money to make a difference Our students have always wanted to make a difference. In 2009 while studying for his MBA at Hult Boston, Ahmad Ashkar was inspired to do business differently. While working on an MBA project, he realized the power of crowd-sourcing ideas and the on-the-ground impact social entrepreneurship could have on the most disadvantaged communities. The Hult Prize was born. Each year the Hult Prize focuses on a specific social problem. Students around the world form teams and develop social enterprises that solve this problem. Through a series of elimination competitions around the world, 40 teams are selected to attend the Hult Prize accelerator at Hult’s Ashridge campus in the U.K. From this accelerator program five to six teams go through to present at the Global Finals, hosted at the United Nations headquarters in New York. The winning team is awarded $1M USD to get their business off the ground. The Hult Prize challenges the brightest minds to solve the world’s toughest problems 2010 Early childhood education The Hult Prize partnered with One Laptop Per Child to provide educa­tional opportunities to the world’s poorest children through affordable laptops. 2011 Clean water crisis A University of Cambridge team collaborated with and won with a loyalty scheme allowing people to pool points from telecom partners to fund clean water projects. 2012 Education, housing, and energy Students worked with One Laptop Per Child, Habitat for Humanity, and SolarAid. The winners were from Carnegie Mellon, NYU Abu Dhabi, and Hult International Business School. 2013 The global food crisis A McGill University team won with an enterprise that makes crickets into a viable food source for urban slum communities.