5 W’S of the HULT Prize
The Know-&-How of the world Biggest Social Innovation Challenge
Ola Amigos!
Did you know that the HULT Prize is coming to your University, i.e. Nirma University? Want to know everything about the HULT Prize? If yes, then do not worry because this article will focus on all the important facts of the HULT Prize that one should know.
Why HULT PRIZE?
Do you feel that you have the power to bring a change in the world? If yes, then HULT is the best platform to bring a change in society with a Business Idea. The HULT PRIZE Foundation was found in the year 2009 by Ahmad Ashkar along with the batchmates to generate a platform that has a sustainable as well as a profitable impact! United Nations is the partner agency of the Hult Prize and the whole event is funded by Bill Clinton’s Foundation named The Clinton Foundation. Also, if you win the Global Finals, you will be awarded the prize by Mr. Bill Clinton himself.
This competition is carried throughout the year, every year. The Hult Prize holds the aim of transforming and building the vision of the youth so that they can become leaders of change and bring a change. If your startup is worth it then you may dig diamonds in the form of US$1,000,000. Yes, this is what the prize is! The winning team gets 1 Million US Dollars.
The whole idea behind this is to generate a competition cum program wherein students across the world get training, learn and then take a revolutionary action to create a world that is a better place to live in! It has been more than a decade since this competition is aired. Meanwhile, it has donated around 65 Million US Dollars just into the social sector to promote startups that are social.
Talking more about the Hult Prize, it is also one of the biggest platforms which promotes social startups in 100 countries and by numerous global volunteers. This competition has helped many startups who have cleared all the challenges. One more thing about this is that the startups aim to solve the issues posed by the UN Sustainable Development Group. Some of the examples of the themes that were used in the previous editions of The Hult Prize are: Harnessing the Power of Energy, Global Food Crisis, Healthcare, Refugee Crisis, and Education.
The themes change every year based on the present challenges which are then told to the Campus Directors of several Universities. The ideas of students flourish radically since they are influenced by the participants throughout the world. Apart from this, the organization has in the Cover Story of Time Magazine because of its “Top 5 Ideas Changing the World” which are otherwise also named as the “Nobel Prize for Students”.
Hult has its operations in more than 2,000 university campuses as well as colleges in around 121 countries. Its team comprises of around 30,000 staff members, changemakers, and volunteers (students) globally. Hence, it would not be wrong to say that the Hult Prize stands out to be one of the prestigious competition
Hult Prize continues to be a disruptive global leader in education, soft skills training, and entrepreneurial development for the 21st century.
What are the 4 stages of the Hult Prize?
The four stages of the Hult Prize are:
STAGE 1: ON-CAMPUS PROGRAM
This is the place where the whole journey begins, the Campus Directors announce the competition in their respective universities. In this round, you are supposed to pitch and present your idea to the panel. This round basically gives the opportunity to understand the way and strategies made by the fellow mates to tackle the issue. Once you are through this round, then Hurray, you are for sure getting an entry in the Regional Finals!
The picture below is of Team Laari, who were the winners of the On-Campus Program of the HULT Prize 2020!
STAGE 2: REGIONALS
Once you come out with flying colors in the On-Campus Program, the next step is that of Hult Prize Regionals. It is a National Level Competition held in 17 countries. Some of the countries which are included are India, UK Belgium, China, Japan, etc. If you end up here, then keep in mind that you are one among those 5,000 teams who put the other 95,000 behind. The duration of this summit is for two days! From this, only the Top 50 teams are selected for the next round.
The team named, Infinity-Box from IIT Kharagpur won the regionals at Hult Prize Beirut Regionals 2020. They now will be attending the Hult Prize Boston Accelerator. Through the pilot project of these KGpians, they have reduced around 50 kilograms of single-use plastic.
STAGE 3: ACCELERATOR
The Top 50 Startups from all the Regional Summits are then invited to one of the biggest accelerators of the world that have an impact! The three places are in Massachusetts, Boston, and the HultCastle in the UK. Here, the selected startups spend around six weeks and undergo mentorship and tail-made programs for five weeks. This program focuses on various areas like resource mapping, team building, marketing, and sales.
STAGE 4: GLOBAL FINALS
This is the last and the final checkpoint between you and the HULT Prize Trophy. This stage is hosted in New York by the United Nations. All the startup teams selected from the Accelerator round then pitch their ideas to the jury. This jury comprises of previous Hult Prize Winners, UN Representatives, CEO of NGOs, Politicians, etc. who have been working in the field of the theme of the challenge during the Global Finals which are held in September.
Hult Prize 2019 was won by Team Rutopia of Tec de Monterrey. The B-Plan was of supporting the youth of the indigenous communities in becoming the aficionados of ecotourism. This bagged them not only the Hult Prize but also the hearts of the expert panel too.
Who can participate?
Are you excited to grab this opportunity of winning a million dollars? If yes, then the next question that would come into your mind is that am I eligible for this competition or not?
To get the answer to the above-mentioned question, keep reading the article.
If you are a student, then BINGO you are very lucky, this is because the basic eligibility is that the student has to be the one who goes to a College or a University. Again there is no restriction from which college or university you are from. This acts as a cherry on the cake for all the Universities throughout the globe. The team can be of the size of 3–4 members. Team building is very important as it can help you WIN or LOSE.
There is one more thing to be taken into consideration, i.e. while you are applying for the application for participation you should not be graduated. That’s it! To add on, you should not include any alumni or faculties in your final or official team. These were some of the major things to be kept in mind while before you enroll in this fantabulous competition.
When will it begin?
Already excited to participate in this competition???
If yes, then let us update you with the tentative schedule.
The timeline begins with the deadline for the first application on 1st July 2020. In the following days, the theme for the challenge is announced for Hult Prize 2021. After that, the second deadline for the application is fixed on 1st August. And the last deadline is scheduled for 1st September 2020. During these three deadlines, the On-Campus Program will be going on parallelly. The final teams for the Regional Summit will be selected from the On-Campus Program. The finals of the On-Campus Program will take on 15th December 2020.
Moving further on tour one year journey, the Regional Summits are scheduled in March and April 2021. This is the place which is only one step away from you and The Hult Castle. If you clear Regional Summits, then Bravo! You are already there in Hult Castle for a month with the Hult Prize Global Accelerator scheduled in Summer 2021. At last, Hult Prize Global Finals take place in the month of September in 2021.
Where will it take place?
This section is going to be super-amazing. I have added a spoiler at the end of this section which would surely give you a thrill!
There are three hurdles between you and the prize. The first one that you will face is among the students at your college only. This means that the first round takes place either at the college or at the university level. Once, you clear this round, the actual battle begins wherein you represent your college or university in the Regional Finale, your next checkpoint. There are several cities where the Regional Summits take place. This journey ain’t easy as there are many twists and turns along the road. One of them is that no matter from which place you are from; you will end up at a regional summit not known to you. Isn’t it enthralling?
Once you conquer this checkpoint, there is only one hurdle between you and your dream i.e. the great Hult Prize. This last round takes place at the Hult Castle (aka Harry Potter’s Castle). You read it, right fellas! Generally, the Global Finals of the Hult Prize Accelerator are held in London, City of New York, or the City of Boston. Told you, there is a spoiler in the end!
I hope that all your questions were addressed in this article. I also hope that this article has ignited the very entrepreneur in you. Trust me this expedition of yours, you might touch upon the grave issues of many people in the society and you may end upon doing greater good to the society! Not only this, but there is also self-development. You will be competing with global teams which will help you get the required exposure and gain self-confidence.
At last: “Participation is more important than winning!”
AU REVOIR!
