Kathmandu, October 14, 2017: School of Management, Tribhuvan University (SOMTU) is all set to host the local edition of Hult Prize. 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 world’s toughest social challenges.
The competition seeks to promote young social entrepreneurs where different schools and colleges of Tribhuvan University will compete to represent Tribhuvan University.
The application is now open to all the students from TU affiliate colleges and the main event will be held on December 13 at SOMTU premises, Kirtipur. To participate in the competition, one should form a team of 3-4 students from their college and register for the same.
The winner of the intra-campus event will automatically advance to compete in one of fifteen regional finals happening in Boston, San Francisco, London, Dubai, Shanghai, Toronto, Mexico City, Quito, Bogota, Melbourne, Lagos, Nairobi, Cairo, Tunisia, Kuala Lumpur and Singapore 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 competition will be hosted in September 2018, where the winning team to be awarded the $1,000,000 prize.
The competition is a global competition held by Hult Prize Foundation. The Hult Prize Foundation in association with Bill Clinton Foundation is a start-up accelerator for budding young social entrepreneurs emerging from universities around the world. The annual competition for the Hult Prize aims to build and launch the most compelling social business ideas start-up enterprises that tackle grave issues faced by billions of people every day.
The overall winning team will receive USD1 million in seed capital, as well as mentorship and advice from the international business community.