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Hult Prize 2020 Challenge

Competition for USA, Canada, and International Students in IHEs for
Innovative Business Models that Impact the Environment

Agency Type:

Foundation / Corporation

Funding Source:

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Hult Prize

Deadline Date:

12/17/19 11:59 PM EST

Description:

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Competition for USA, Canada, and International teams of students in IHEs for innovative business startup initiatives that have a positive impact on the environment. The purpose of the competition is to award a global startup prize for new and transformative business models that improve the environment with every sale.

Through its yearly competitions, Hult Prize unlocks the desire of young people to change the world through business. Each year there is a different challenge focus. The 2020 Hult Prize Challenge as announced by President Bill Clinton at the United Nations is: “Building Startups That Have A Positive Impact On Our Planet with Every Dollar Earned.” 

In 2020, the challenge to the vast and rapidly-growing Hult Prize community is to replace every industry on the planet with a future, better version of itself. The goal is to start by building bold businesses that improve the planet with every sale. Hult Prize is not looking for incremental improvements in efficiency or ways to make current businesses less environmentally damaging than they are today, but are looking for transformative models that change the very nature of supply chains; that introduce radically new business models; that cause people to rethink the most deeply-ingrained patterns in their behaviors; and to reimagine and replace the goods and services to which they are most accustomed, without a reduction of performance, quality, accessibility, or price.

Your application is not based on an existing idea, or one that you may have come up with for the challenge. Unlike any competition in the world, the Hult Prize moves teams into the regional finals that have the potential to create a dynamic and disruptive start-up based on their team experience and makeup.

GrantWatch ID#:

GrantWatch ID#: 163667

Estimated Size of Grant:

Each year the Hult Prize provides $1,000,000 in seed capital to the winning impact enterprise of it’s flagship program. The prize money is seeded into the newly created company, which will be run by the student team who came up with the idea.

Runner-ups may also have the option to receive funding from the Hult Prize Mena Ventures Fund. These funding terms will be fixed for each of the five runner-ups.

Additional Eligibility Criteria:

Eligibility:
- To enter the competition you must be a current student of a higher education institution at the time your application was submitted.
- 3-4 persons may compete on each team, and only these persons will be considered as part of your team. Team members are those that are listed on your application and those that have been amended by written confirmation.
- Only currently enrolled students, full or part-time at the time of application submission will be considered students. Alumni and faculty are not allowed to be official team members.
-All participants should belong to the same college or university. However, this may consist of a mix of programs and undergraduate, graduate and PhD level.
- Individuals can not apply. While only teams may compete, individuals who cannot form a team but are interested in competing should join the Facebook community to find others individuals who are looking to form teams.

Pre-proposal Conference:

A series of online webinars and trainings are available to everyone who follows Hult Prize's official social media channels. Campus Directors will also be facilitating trainings across the world. Use social media to find one near you. For more information, see FAQs page in Pre-Application Information below.

Pre-Application Information:

Official 2020 Global Hult Prize Applications will open on October 1st. There will be two early bird application deadlines, with a final application deadline of December 23. On-campus events and programs are on-going. Regional Programs have floating deadlines, please visit your local country page to learn more or email Hult Prize.

Timeline:
- September 15: Challenge announced: 2020 Hult Prize Challenge on Empowering the Earth: Bold Businesses for a Better Planet
- October 1: Applications open and 2020 Hult Prize Challenge on Empowering the Earth
- November 30, 2019: Early Bird deadline 11:59PM EST
- December 17: Application deadline. Final application deadline 11:59pm EST
- January 14: Regional Teams selected. Regional Finalist announced.
- March 2: Regional semi-final rounds begin
- April 1: Wildcard round opens for chance to accepted in accelerator

Submitting your application early is highly encouraged.

How the Hult Prize works:
There are multiple programs, and multiple rounds of competition that can further be explored in the Programs Section on the URL for Full Text. Your goal is to make it to the Global Accelerator, to work, learn and play as you develop your game-changing enterprise. The top 50 companies from around the world advance here, a step before the UN Finals. From there, six companies are selected to pitch at the United Nations for $1,000,000.

There is funding and mentorship throughout. There are two ways to become part of the top 50:
1) Win a Regional Summit Final
2) Win a Wildcard Round.

There are two ways into a Regional Summit, either you win an On-Campus Hult Prize which may or may not be happening at your university, or you submit into the general application window. Regional Summit cities are always changing; for the 2020 cycle the cities will be announced soon so stay tuned!

Once the top 50 are selected, they come to the world’s biggest and baddest incubator for social enterprise and from there, Hult Prize's team and network of over 25,000 coaches, advisors and mentors work to make your idea real. After 5-weeks a final six are selected to pitch at the UN Finals & Awards Gala. The winner gets the coveted Hult Prize.

For more information on the Campus Competition, see: http://www.hultprize.org/on-campus/
For more information about Regionals, see: http://www.hultprize.org/regionals/
For Frequently Asked Questions, see: http://www.hultprize.org/faqs/.

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

Online application: https://hultprizefoundation.wufoo.com/forms/zix55a6098mrqp/

info@hultprize.org

URL for Full Text (RFP):

Geographic Focus:

USA: Alabama;   Alaska;   Arizona;   Arkansas;   California;   Colorado;   Connecticut;   Delaware;   Florida;   Georgia;   Hawaii;   Idaho;   Illinois;   Indiana;   Iowa;   Kansas;   Kentucky;   Louisiana;   Maine;   Maryland;   Massachusetts;   Michigan;   Minnesota;   Mississippi;   Missouri;   Montana;   Nebraska;   Nevada;   New Hampshire;   New Jersey;   New Mexico;   New York City;   New York;   North Carolina;   North Dakota;   Ohio;   Oklahoma;   Oregon;   Pennsylvania;   Rhode Island;   South Carolina;   South Dakota;   Tennessee;   Texas;   Utah;   Vermont;   Virginia;   Washington, DC;   Washington;   West Virginia;   Wisconsin;   Wyoming

USA Territories: American Samoa (USA)   Guam (USA)   Puerto Rico (USA)   Virgin Islands (USA)   Northern Mariana Islands (USA)

USA Compact Free Associations: The Federated States of Micronesia (USA)   Marshall Islands (USA)   Republic of Palau (USA)

Canada: Alberta   British Columbia   Manitoba   New Brunswick   Newfoundland and Labrador   Northwest Territories   Nova Scotia   Nunavut   Ontario   Prince Edward Island   Quebec   Saskatchewan   Yukon

Israel

International country outside of the USA, Israel and Canada.

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