A six-minute pitch and a four-minute Q&A session could be all that stands between a Griffith University team and US$1 million in seed capital to kick-start the world’s next social business success story.
William Tsai, the convenor of Griffith University’s Hult Prize Challenge for 2017, has put the call out for budding entrepreneurs in the Griffith community to step up to the task.
William, a Bachelor of Medical Science student, represented Griffith University in this year’s Hult Prize Challenge in San Francisco. Now he wants to see Griffith students take on the best in the world in the 2017 Hult Prize.
The Challenge is hosted by the Hult Prize Foundation, a not-for-profit organisation founded in 2009 by Ahmad Ashkar whose aim is to encourage social entrepreneurship globally. The annual Hult Prize awards US$1 million in start-up funding to the student team that presents the most radical idea to solve one of the world’s toughest social challenges.
The prize bears the name of Swedish entrepreneur Bertil Hult, founder of educational company EF Education First and benefactor of the Hult International Business School.
Former US President Bill Clinton is the official ambassador for the Hult Prize Challenge, which he has described as an inspiring example of ‘shared opportunity, shared responsibility and shared prosperity’. Mr Clinton presents the award each year to the winning team.
“I’d like to see a Griffith University team taking the prize next year,” said William.
Griffith teams will compete on Friday, December 2, 2016 for the right to represent the University at next year’s Hult Prize Challenge in either London, San Francisco, Boston, Dubai or Shanghai.
The Challenge involves teams of three to four students presenting a six-minute pitch of their social enterprise to a judging panel, and then facing a question and answer session on their proposal.
“We have the privilege of Griffith offering a generous sponsorship package including flights and accommodation to compete at the regional finals,” said William.
“This competition has become a big drawcard for some of the world’s best social entrepreneurs, and I’d like to think we have a real shot at it.
“The timing is certainly tight, and we have a disadvantage in Australia because nominations for the Challenge each year have to work around student exam schedules.
“However, I’d like to see as many Griffith University students as possible participate. It offers those with a social conscience a chance to make a real impact, and it’s also a great opportunity to meet with some of the world’s most innovative social entrepreneurs.”
Click here if you are interested in taking on the 2017 Hult Prize Challenge. Registrations have been extended to November 28, 2016.