OAU to host $ 1 million Hult prize entrepreneurship competition

The Obafemi Awolowo University, Ile-Ife, has been selected to host the local edition of the Hult Prize wherein students will have the opportunity to win $ 1 million through innovative entrepreneurial ideas.

This was revealed in a press statement signed by Barakat Tiamiyu. It stated that the institution has been selected to hold the world’s largest student competition for the creation of new social businesses.

Part of the statement reads: “The annual Hult Prize Awards, one million dollars in start-up funding to the team of students who develop the most radical and breakthrough idea to solve one of our world’s toughest social challenges.”

According to Ms. Barakat, the Hult Prize is hosting College and University events around the world in search of the ”next game-changing start-up in partnership with the United Nations.”

“I will be leading the Hult Prize at Obafemi Awolowo University, I believe if given a chance, we would lead the good work,” she said.

It was also learnt that the winner of the intra-campus event will automatically advance to compete in one of fifteen regional finals happening around the world in March, 2018.

“One winning team from each host city will move onto 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 competition will be hosted in September 2018, where the winning team will be awarded the $1 million prize.”

Volunteers and teams who are interested in registering for the competition are to visit: www.hultprize.org.

On its website, it says the Hult Prize instituted by the Hult family has been dedicated to opening the world through education for more than 50 years. Since founding EF, Education First, the founder, Bertil Hult’s vision has been to provide life-changing education and transformative experiences to people everywhere.

Today, EF is run by his three oldest sons and offers cultural exchanges, educational travel, language training and degree programs in 53 countries.

The Hult Prize is made possible through the ongoing support of the Hult Family.

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