Tribhuvan University (SOMTU) of Nepal has been selected to host the Hult Prize 2020/21, On Campus Program, the world’s largest student competition for the creation of new social businesses.
The Hult Prize is referred as the “Nobel Prize for students” by Nobel Laureate Muhammad Yunus.
A final round of competition will be hosted in September 2021, where the winning team will be awarded USD 1 Million ($1,000,000) prize.
The prize is a partnership between Hult International Business School and the United Nations Foundations.
The annual Hult Prize start-up funding to the team of students that develops the most radical and breakthrough idea to solve one of our world’s toughest social challenges.
In partnership with the United Nations, the Hult Prize is hosting college and university events around the world in search of the next game-changing start-up.
Hult Prize at Tribhuvan University 2020/2021 will be conducted under the banner of School of Management Tribhuvan University Student Welfare Society (TUSWS). According to Mr. Pramod Aryal the Campus Director for Hult at TU, the organizing team is ready to train, educate, and inspire students to be part of the change.
Mr. Abinash Chhetri (President, SOMTU SWS) added “although we are in this unusual situation, we are planning to reach students of most of the colleges affiliated to Tribhuvan University from eastern Nepal to Far-West Nepal and conduct an orientation session and spread awareness about Hult prize”.
Deputy Campus Director Mr. Prabin Mishra highlighted the fact that Hult Prize Tribhuvan University is the quarterfinal round of the Hult Prize, the winners of which will advance to the Regionals. Along with Tribhuvan University, Kathmandu University, Pokhara University, and Purbanchal University are also organizing Hult Prize On Campus program.
In bringing clarity regarding the On Campus Event, Ms. Sukritee Mainali (Program Coordinator) also added that Hult Prize at School of Management Tribhuvan University is the event where all the non-science / non-technical students studying Masters or Bachelors degree in affiliated and constituent colleges of Tribhuvan University are eligible to participate.
IOE and IOST will be hosting the On campus program for the students from technical backgrounds.
The winner of the intra-campus event will automatically advance to compete in regional finals happening around the world 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 2021, where the winning team to be awarded USD One Million ($1,000,000) prize.
In 2019, a team of Mexican entrepreneurs from the Tec de Monterrey won the Hult Prize with a project named Rutopia.