(NEW YORK – September 25, 2012) The Hult Prize, formerly known as the Hult Global Case Challenge, announced today that it has launched a start-up accelerator for social entrepreneurship. It was also announced, that US$ 1million in start-up capital would be awarded to the top student-generated social business and that President Clinton would personally host a minimum of 30 young and innovative Hult Prize finalists at next year’s Clinton Global Initiative (CGI) meeting.
The Hult Prize is dedicated to launching the next wave of social entrepreneurs through identifying, funding, mentoring, and advising new social businesses. In less than four years, the Hult Prize has become the world’s largest student movement for social impact and the world’s largest crowdsourcing platform, dedicated to solving the world’s most pressing social challenges. A global force for good, the Hult Prize has reshaped the way young people tackle social issues and serves as a catalyst for budding entrepreneurs. Through its global, six-city platform, participants learn how to turn great ideas into innovative, catalytic and humanitarian solutions.
Each year, the Hult Prize focuses on a specific global social challenge, which inspires tens of thousands of change-agents from around the world to develop business ideas to solve these problems. Previous challenges have tackled a wide range of issues, including education, clean water, housing and energy. Today, in front of nearly one thousand delegates at the CGI Annual Meeting, and US presidential candidate Mitt Romney, President Bill Clinton announced that he has personally selected the topic of food security as this year’s theme and called to action the next wave of social entrepreneurs.
“Our renewed partnership with President Bill Clinton and the CGI fits perfectly into our effort to expand our reach and impact,” said Ahmad Ashkar, who founded the Hult Prize while studying for his MBA at Hult International Business School and now serves as CEO. “Our summer incubator is a game-changer and will accelerate our mission of moving toward NGO 2.0. Having CGI play host to our final is a real breakthrough because it gives all our finalists a platform to raise money and seek support for their social businesses through the CGI network.”
Hult President Dr. Stephen Hodges added: “After speaking to thousands of social entrepreneurs, students, and non-profits who have already benefited from the Hult Prize, we can see that good ideas can be extremely powerful. I’m proud that it was a Hult International Business School student who came up with the challenge – an inspirational idea that has led to thousands of other great solutions.”
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.