Hult Prize has recently selected University of Ilorin to host a local edition of the Hult Prize, the world’s largest student competition for the creation of new social businesses.
The annual Hult Prize awards one million dollars in start-up funding to the team of students that develops the most radical and breakthrough idea to solve one of the world’s toughest social challenges.
Hult Prize Foundation is a Non Profitable Organization (NGO) dedicated to launching the world’s next wave of social entrepreneurs. It encourages the world’s brightest business minds to compete in teams to solve the planet’s biggest challenges with innovative ideas for sustainable start-up enterprises. Annual Hult Prize winners can make their ideas reality with the help of USD1 million in seed funding.
The Hult Prize@ Initiative is the quarterfinal round of the annual USD1 million Hult Prize Challenge, bringing the competition directly to college campuses around the world. This international program allows student leaders on campus to organize their own localized version of the Hult Prize, using a turn-key tool kit and the support of dedicated staff at the Hult Prize Foundation.
The local competition gives the university’s winning team the chance to bypass the general application round, and fast-track into one of the five regional finals: Boston, San Francisco, London, Shanghai, or Dubai.
Run entirely by student campus directors, Hult Prize@ gives students a vital role to play in changing the trajectory of some of the world’s toughest challenges, starting in their own communities and countries.
Speaking on the opportunities open to students by Hult Price Initiative, UniIlorin Campus Director, Olorunjuwon Bello said Nigerian students are better ready to solve the World’s pressing challenges and urged them to take advantage of the opportunities the event has to offer.
“It’s not every day that you have an opportunity to change the world. A team of you will be representing all of us at the upcoming Hult Prize Regional Finals happening on March 3rd to 4th, 2017 at London/ Dubai/ Boston/ Shanghai/ San Franscisco. This is our chance to show the world that we are truly “Better by Far” in solving the world’s pressing challenges and the emergence of the change agents starts from Nigeria.” as rightly said by Olorunjuwon Bello, the Campus Director for Hult Prize at the University of Ilorin.”
Bello also disclosed that the winner of the intra-campus events would advance to the next level. “The winner of the intra-campus event will automatically advance to compete in one of five regional finals happening around the world in Boston, San Francisco, London, Dubai and Shanghai next March.
“One winning team from each host city will then move onto 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. A final round of the competition will be hosted in September 2017, where the winning team to be awarded the $1000, 000 prize by former President Bill Clinton himself.
“This is a great opportunity for the University of Ilorin and Nigeria at large to solve one of the most pressing challenges facing the world. We believe that the change agents are emerging from Africa and as such equal opportunity must be given to make them achieve this call to serve humanity.” Bello noted.