Professional Documents
Culture Documents
Callto Action
Callto Action
3. Inspiring Businesses
Hult Prize Competition
Overview
What is the Hult Prize?
With a $1,000,000 global startup prize as its anchor
activity, the Hult Prize has brought impact focused
programs, events, and training to over a million
students globally, creating a pathway for youth
everywhere to take action to build a better world.
Global Finals
September
Global Accelerator
June - August
Regional Summits
April - May
OnCampus
December - March
General Application
Don’t have an OnCampus Program at your
university? Apply through the General
Application between March 15 and March 30!
Pre-Register HERE.
How Does it Work?
As of January 2021, job losses stand at 255 “As is the case for the entire crisis, those living
million, while upwards of 1.6 billion informal in developing countries and fragile contexts
economy workers have also been significantly face the most dramatic risks or have least
affected. The World of Work & Covid-19 resilience.” The World of Work & Covid-19.
What is a business that creates It is a business where revenue is directly tied to impact.
3. a positive impact? The more money you make, the greater impact you can have.
4. How many people can be on a team? Each team must have 3 or 4 students from the same university.
Solution Viability
• Does the solution answer the 2022 Call to Action? 1 2 3 4 5
Impact
• How will both employees and society at large benefit from the existence 1 2 3 4 5
of this business?
• Does the business adequately align with the stated goals of UN SDG #8?
Team
• Does this team have the skills and experience necessary to 1 2 3 4 5
3. Now that you understand the first step on your Hult Prize journey,
it’s time to get out there and start asking questions!
Inspiring Businesses
Rethinking Education with Design Thinking
In 2010, Carlos Rodriguez-Pastor, a The team quickly had some key Today, Innova runs over 60 schools,
Peruvian businessman, wanted to insights. For instance, they found is the largest private school
provide high-quality, affordable parents did not want to send their network in Peru and their students
education for the rapidly growing students to a brand-new school have shown huge improvement in
middle-class in his country. Carlos they knew nothing about. So, the their test scores and interest in
and a team from IDEO knew the team at IDEO suggested teachers learning. It has been able to do all
best way to make their project a at Innova invite parents to try out a of this as a private, for-profit
success was through design day of classes with their child to education business that provides
thinking. So, they began by ease their fears. This was so meaningful work for thousands of
speaking directly with teachers, successful that now, about 80% of teachers and a quality, affordable
students, and families who were parents take advantage of this education for students.
potential customers or employees offer every year.
of Innova Schools.
Sandy Speicher,
CEO & Innova Schools Project
Citation: IDEO Innova Schools Video
Lead, IDEO
Adapting an Existing Business Model
In 2012 Careem started with a At the heart of Careem’s success is Careem is a company that
mission to improve the lives of their willingness to learn from and provides meaningful work at scale,
people in the Middle East and build engage with their drivers, which allows millions of riders to get to
an organization that inspires. Since allows them to continuously where they need to go safely,
then, it has grown into the biggest identify and solve issues. They empowers drivers with a flexible
ride-hailing app in the Middle East, learn what their stakeholders need income and schedule, and
with over one million drivers through regular in-depth interviews adapted an existing business
operating on their platform in 15 and focus groups with drivers and model to a local market using
countries. Careem has been so riders as well as big data analysis. design thinking.
successful that they were acquired Literally, regional executives must
by Uber in 2020 for $3.1 billion. make weekly calls to local drivers.
Mudassir Sheikha,
Cofounder, Careem
Citation: Entrepreneur Middle East
The global economy is coming back. There will
never be a better time to create a high-impact,
job-creating business than now.