IMT, Ghaziabad advances to regional finals of Fifth Annual Hult Prize

The Hult Prize Foundation recently announced that Institute of Management of Technology, Ghaziabad has advanced to the regional finals of the Fifth annual Hult Prize. The team from IMT comprises first year students - Jeetendra Ajwani, Ravi Kukreja, Madhav Mathur, Nupur Gupta and Keshika Lakhani.

The Hult Prize is the world’s largest student competition and start-up platform for social good. In partnership with President Bill Clinton and the Clinton Global Initiative, the innovative crowdsourcing platform identifies and launches disruptive and catalytic social ventures that aim to solve the planet’s most pressing challenges. Student teams compete in six cities around the world for a chance to secure US$ 1 million in start-up funding to launch a sustainable social venture.

Each team selected, was chosen from more than 10,000 applications received from over 350 colleges and universities in over 150 countries. The Hult Prize regional competitions will take place on March 7 and 8, 2014 in Boston, San Francisco, London, Dubai, Shanghai and Sao Paulo. Institute of Management of Technology, Ghaziabad will compete in Dubai.

The 2014 Hult Prize will focus on helping over 250 million slum dwellers around the world who are suffering from chronic diseases – a challenge personally selected by President Bill Clinton. Ahmad Ashkar, CEO and Founder of the Hult Prize, attributes the success of the competition to the shift in the global economy and the millennial generation’s refusal to live in a world with inequality, “We are giving entrepreneurs from around the world a platform to innovate and revolutionize the way we think about servicing the poor.”

Following the regional finals, one winning team from each host city will move into 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 by the Clinton Global Initiative at its annual meeting in September, where CGI delegates will select a winning team, which will be awarded the US $ 1,000,000 Prize by President Bill Clinton himself.