Money
TU, KU teams advance to Hult Prize regional finals
Two teams from Tribhuvan University (TU) and Kathmandu University (KU) have advanced to the regional finals of the Hult Prize competition to win funding to build a sustainable and scalable start-up aimed at restoring the rights and dignity of refugees.Two teams from Tribhuvan University (TU) and Kathmandu University (KU) have advanced to the regional finals of the Hult Prize competition to win funding to build a sustainable and scalable start-up aimed at restoring the rights and dignity of refugees.
Team Aegis and Team Utopia emerged as the winning teams from TU and KU respectively last week. More than 300 students took part in the competition that saw participation of 40 teams from TU and 42 teams from KU.
The competitions were held on December 15 at Yalamaya Kendra and Dhulikhel. The participating teams showcased their innovative solutions to this year’s challenge, Refugees: Reawakening Human Potential, which was personally chosen by former US president Bill Clinton.
“We congratulate all the teams from Nepal who generated an impressive array of ideas to promote refugee empowerment,” said Kevin J Allen, UNHCR representative in Nepal.
Addressing the challenges of forced displacement requires innovation and solidarity—qualities which were impressively displayed during this event.”
The best teams were chosen by a panel of judges consisting of professors, representatives of start-ups in Nepal and officials from UNHCR and World Vision International.
The winning teams will be offered a two-month residency programme, starting from January 2017, at Nepal Innovation Lab to refine and polish their ideas before they compete in the regional finals.
This was the first on-campus Hult Prize event in the country and was supported by UNHCR and Nepal Innovation Lab (World Vision International).
“The lab is delighted to partner with the Hult Prize Nepal team and is inspired by the great ideas all the university teams have presented. We are looking forward to working closely with UNHCR to ensure that the two winning teams have a successful journey during their residency at the lab over the next two months in preparation for the regional finals in March,” said Aradhana Gurung, lead manager at Nepal Innovation Lab.
The teams will now move on to compete at the Hult Prize regional finals in March 2017 being hosted at one of Hult International Business School’s five campuses in Boston, San Francisco, London, Dubai and Shanghai.
Ahmad Ashkar, CEO and founder of the Hult Prize, attributes the success of the competition to the global youth revolution.
“We continue to be moved by the large number of students from around the world who are capitalising on the opportunity to develop business models that target those who are most in need,” he said.
The winning teams from the regional finals will be provided international mentorship and housed in Boston. They will then compete in the global level competition to be held in New York. The winner of Hult Prize 2017 will receive $1 million to implement their social entrepreneurship idea.