The Hult Prize, referred to as the “Nobel Prize” for students, is an annual, year-long competition that crowd-sources ideas from university-level students after challenging them to solve a pressing social issue around topics such as food security, water access, energy, and education.
As a part of such a program, we are honored to be representatives of its on-campus phase, where many teams from our college will present their ideas based on this year’s challenge. The Hult Prize Challenge for 2023 is “Redesigning Fashion,” with the idea of creating an innovative social venture to make the fashion and clothing industry more sustainable. Among all the teams, the team with the best idea and aptitude will be the winner. The winning team will then represent our college at the international regional level.
This Year’s Challenge:
Steps for Hult-Prize 2023:
It’s the third successful event of The Hult Prize at Sunway College Kathmandu this year, where a group of aspiring individuals are selected as the organizing committee for this year’s on-campus event. This year, we have Mr. Udit Kumar Mahato as our campus director, along with other members who were selected through interviews and personal aptitude sessions. This year’s organizing committee and their designations are as follows:
|1||Udit Kumar Mahato||Campus Director|
|2||Manoj Shrestha||Deputy Campus Director|
|3||Sambridhha Jung Shah||Deputy Campus Director|
|4||Shishir Aryal||Social Media|
|5||Saujanya Shrestha||Event Coordinator|
|6||Bharat Kapari||Team Coordinator|
|7||Rushna Shrestha||PR and Logistic Manager|
|8||Prabin Shrestha||Design Coordinator|
|9||Subin Satyal||Judges and Experts Coordinator|
What will organizers do?
- Recruit teams each consisting of 3-5 Members
- Find Sponsorship
- Plan Sessions
- Invite Judges, speakers and Guests
- Make all the logistics ready
We had an official inauguration event this year to kick-start this year’s on-campus event. The inauguration event was attended by all our students and faculty members. We had Mr. Sundar Agrawal as guest speaker, who gave a brief description of the importance of entrepreneurship, developing our confidence, and recognizing the need to push ourselves for a successful career. Also, our campus director, Mr. Udit Kumar Mahato, gave an orientation on Hult Prize, the steps for registering for the competition, and the importance of this program. This event also marked the beginning of our team and single registrations. The date and timing of the event were:
Event Date: 17th November 2022
Event Time: 10:30 AM onwards
Following this event, we began recruiting participant teams and individuals for this year’s competition. The participants need to follow certain rules and regulations for registering, and they are:
Rules and Regulations for team registration:
- The Hult Prize Competition is open to teams of a minimum of three or a maximum of five members who are currently actively enrolled as full-time or part-time undergraduate or graduate students.
- General Terms
- There is no entry fee
- The team will represent their university, so team members must be enrolled at the same university. However, teams have the option to include one single team member from a different university.
- All team members must individually be enrolled in a higher education course of studies at the time of the application and be able to provide an acceptable student status confirmation document.
- All team members must be listed on the official registration. Any changes to team members must be in writing, unanimous, and approved by the Hult Prize Foundation at its sole discretion. Students can only be registered in one team at a time.
- All costs related to participating in the Hult Prize Competition or any other Hult Prize Foundation program, including transportation, meals and accommodation, are the responsibility of the participant.
- Business ideas/proposals must be the original work of entrants, and only one business idea can be proposed per team.
- Entrants must agree that the content, images, representations, and ideas presented during any stage of the Hult Prize Competition may be published by the Hult Prize Foundation and shared with strategic partners without limitation.
- All submissions from startups must be in English, and all official competition phases will be held in English.
- Competition & Selection Process
- In addition to participating in Hult Prize competition events, teams must complete mandatory milestone submissions in order to advance to the next phase of the competition.
- Teams may be asked to provide convincing evidence of all claims made during any phase of the competition in order to be eligible for advancement.
Alongside this we are also giving different sessions and trainings to all the individuals and registered teams, among which all the carried out sessions and trainings are listed below:
- Virtual session on Entrepreneurship by Mr. Sajal Joshi (C.E.O and co-founder of Helmets Nepal):
2. Virtual session on ” Eye for opportunities and teaming Teams” by Mr. Anup Uprety (Founder of Mero Siksha):
Not only this, but we have more than 30+ sessions that will be based on this year’s challenge, building innovation, developing unique ideas, motivating teams and individuals, and helping in preparation and winning the On-campus event.
Semi-Final and Final:
After all of these steps, we will have a semi-final round in which certain teams will be nominated to compete. The victorious team will then represent our college in the regional-international event, and if they succeed there as well, they will then compete in the global finals, which will take place in Paris.
They will also get a cash prize of $1 million USD for launching their business concepts if they win the global finals.