(BOSTON – September 20th, 2012) The World Economic Forum distinction recognizes the way in which Ahmad has used innovation, crowdsourcing and social entrepreneurship to bring about lasting social change. It is a breakthrough methodology and one that has helped to redefine how people tackle the world’s most pressing challenges.
While studying for his MBA, Ashkar founded the Hult Prize (formerly known as Hult Global Case Challenge) – a start-up accelerator for social entrepreneurship that invites students from around the world to come up with business solutions to the world’s most intractable social issues. Traditional philanthropic approaches like giving donations to charity may help these issues in the short term, but for lasting change, innovative business models are required.
“I am honored by the selection and look forward to using the World Economic Forum community to help accelerate our impact,” said Ashkar, who attended the 2012 World Economic Forum in Davos. “With the skills and contacts I acquired at Hult, I've really been able to innovate and convert a good idea into a global movement that can change the world. We've mobilized thousands of students across 130 countries since starting the Hult Prize three years ago.”
Although it started as a student-led event with little funding, the Hult Prize is now one of the world’s largest crowdsourcing initiatives for social good. Ashkar is poised to set a new standard in the start-up arena as the Hult Prize will provide US$ 1 million in seed capital to the best student-generated business, along with mentorship, training, and access to world-class partners which include former US President Bill Clinton, the Clinton Global Initiative (CGI), and Muhammad Yunus.
The ‘Global Shapers’ are described as young, extraordinary individuals with great potential for future leadership roles in society. They have an entrepreneurial spirit, and are keen on using their skills to make big changes. According to figures from the World Economic Forum, 50% of the world’s population is now under the age of 27.
“Ashkar’s selection is a great milestone for him, and a real honor for our business school,” said Hult President, Dr. Stephen Hodges. “Increasingly our students are seeking out difficult issues, and using their networks, business knowledge and media savvy to help solve them sustainably.”
The next Hult Prize will kick off at the CGI Annual Meeting on September 25, 2012, where President Bill Clinton will announce this year’s challenge.
About Hult International Business School
Hult is the world's most international business school with campuses in Boston, San Francisco, London, Dubai, Shanghai, and a rotation campus in São Paulo. The School offers a range of business-focused programs including MBA, Executive MBA, Master and Bachelor degrees. Hult’s one-year MBA program is ranked in the top 30 in the world by The Economist and 1st in International Experience by the Financial Times. www.hult.edu.