The Hult Prize Foundation recently announced that BRAC University has advanced to the regional finals of the Fifth annual Hult Prize, the world’s largest student competition and start-up platform for social development.
In partnership with former US president Bill Clinton and the Clinton Global Initiative, the innovative crowd sourcing platform identifies and launches disruptive and catalytic social ventures that aim to solve the planet’s most pressing challenges.
Student teams compete in six cities around the world for a chance to secure $1 million in start-up funding to launch a sustainable social venture.
The team members are from the BRAC Business School, consisting of five members Habib Ghazi, Mukit Anis, Maisha Mofiz Esha, Mohammad Asif Chowdhury and Mohsin Uddin Taksin.
The 2014 Hult Prize will focus on the 250 million slum dwellers around the world who are suffering from chronic diseases in need of help, a challenge personally selected by President Bill Clinton.
Ahmad Ashkar, CEO and Founder of the Hult Prize, attributes the success of the competition to the shift in the global economy and the millennial generation’s refusal to live in a world with inequality.
“We are giving entrepreneurs from around the world a platform to innovate and revolutionize the way we think about servicing the poor,” said Ahmad Ashkar.
Each team selected was chosen from more than 10,000 applications received from over 350 colleges and universities in over 150 countries.
The Hult Prize regional competitions will take place on March 7 and 8, 2014 in Boston, San Francisco, London, Dubai, Shanghai and Sao Paulo. BRAC University will compete in Shanghai, China.
Following the regional finals, one winning team from each host city will move into a summer business incubator, where participants will receive mentorship, advisory and strategic planning as they create prototypes and set-up to launch their new social business.
The final round of competition will be hosted by the Clinton Global Initiative at its annual meeting in September, where CGI delegates will select a winning team, which will be awarded the $ 1,000,000 Prize by former US president Bill Clinton himself.
About the Hult Prize
The Hult Prize is a start-up accelerator for social entrepreneurship, which brings together the brightest college and university students from around the globe to solve the world’s most pressing issues.
The annual initiative is the world’s largest student competition and crowd-sourcing platform for social good. The Hult Prize has been funded by the Hult family since its inception in 2009. To learn more, visit www.hultprize.org.
About The Clinton Global Initiative
Established in 2005 by former US president Bill Clinton, the Clinton Global Initiative (CGI), an initiative of Bill, Hillary & Chelsea Clinton Foundation, convenes global leaders to create and implement innovative solutions to the world’s most pressing challenges.
CGI Annual Meetings have brought together more than 150 heads of state, 20 Nobel Prize laureates, and hundreds of leading CEOs, heads of foundations and NGOs, major philanthropists, and members of the media.
To date, CGI members have made more than 2,500 commitments, which are already improving the lives of more than 430 million people in over 180 countries. When fully funded and implemented, these commitments will be valued at $87.9 billion.
