Institute of Medicine (IOM) will be hosting its first On-Campus Program for the Hult Prize 2021. Students from more than 2000 college and university campuses in 121 countries around the world will participate in the Hult Prize, which will also feature students of IOM, Nepal this year. All the medical students studying at the affiliated colleges of IOM under Tribhuvan University are encouraged to take part in the event.
Hult Prize is the world’s largest students’ competition where college and university students around the world compete to solve a pressing social issue faced by millions via startup enterprise. The winner is awarded 1million USD. The IOM is organizing the new competition this year for the very first time.
Hult Prize IOM On-Campus program is an initiative taken by the medical students of the Institute of Medicine. It is a completely new venture, for medical students of Nepal. The on-campus program comprises a series of events, starting with orientation sessions and ending with the main competition.
Different events are scheduled in between with the main aim of helping participants in presenting their entrepreneurial ideas more efficiently and achieving the required motivation needed in moving forward in the competition. The Campus Director Bima Sharma fondly recalls the beginning of the journey, where she was fervently looking for enthusiastic team members. Now, with a team of 18 members, the on-campus program is going stronger than she had ever expected.
As for the competitive part of the event, the registration is open right now and 25 teams have already enrolled themselves. The deadline for registration is 8th November 2020.
The organizing committee is planning to conduct events and training on entrepreneurship, business model canvas, presentation skills, confidence building, etc from 6th November onwards to help participants comprehend this year’s challenge even better.
The challenge (theme) for this year’s Hult Prize is “Food for Good– Transforming food into a vehicle for change”. The goal is to create jobs, stimulate economies, reimagine supply chains, and improve outcomes for 10,000,000 people by 2030.
The Hult Prize program will also provide medical students with strategies to add to the abstract of the ideas that they have. Similar events and motivation programs with previous winners have already been organized prior to the opening of registration. The finale of the On-Campus Program at Hult Prize IOM is scheduled to be conducted during the last week of November and the winning team will be selected automatically for the regional summit, a step closer towards 1,000,000 USD prize money for the startup.
The students’ team of 3-4 members from any college or university are eligible to take part in the On-Campus competition. The winner of the On-Campus competition will qualify for the Regional Summits in the cities like Dhaka, Kuala Lumpur, Islamabad, Abuja, etc. Similarly, the winner of each Regional Summit will move on to the summer business incubator with mentorship, advisory, and strategic planning to commence their social venture. The teams will eventually move on to the last round, and one winning team will receive 1,000,000 Million USD to execute their business plan.
What is the Hult Prize?
Also known as the “Nobel Prize for Students”, the Hult Prize is home to the world’s largest college and university network for impact. It is a year-long competition that crowd-sources ideas from college students after challenging them to solve a pressing social issue around topics such as food security, water access, energy, and education.
The Hult Prize (since 2009) is one of the world’s most acclaimed entrepreneurship programs operating on more than 1500 university campuses in 121 countries and has become a benchmark startup challenge for social entrepreneurship. Every year, the organizing committee chooses the theme to create an impact on the world. This year’s theme is intending to solve the world food crisis.
Past Competitions and Challenges (Theme)
- 2010: Early childhood education
- 2011: Global water crisis
- 2012: Housing, education and energy
- 2013: The Global Food Crisis
- 2014: Solving Non-Communicable Disease in the Urban Slum
- 2015: Early Childhood Education
- 2016: Crowded urban spaces
- 2017: Refugees – Reawakening Human Potential
- 2018: Transform – Harnessing the Power of Energy
- 2019: Global Youth Unemployment
- 2020: Climate Change
- » 2021: Food for Good
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