University of Ghana advances to finals of $1million Hult prize competition

The Hult Prize has announced that the winning team from the University of Ghana who are also winners of the Dubai regionals has advanced to the 7th annual finals of the competition.

The competition which was hosted in five different cities ( London, Dubai, Shanghai, San Francisco and Boston) saw brilliant minds come together to solve some of the world’s pressing challenges.

The Hult Prize is a crowdsourcing platform for social good, named one of the top five ideas changing the world by President Bill Clinton and TIME Magazine.

In partnership with the Clinton Global Initiative, the innovative crowdsourcing platform identifies and launches disruptive and catalytic social ventures that aim to solve the planets most pressing challenges.

This year, the Hult Prize is focused around finding solutions for “Crowded Urban Slums”– a challenge selected by President Bill Clinton.

The team competed in the Hult Prize Dubai regional event on March 11 and 12, 2016 and built a solution to this year challenge by President Bill Clinton around “Crowded Urban Spaces”. Their solution in short is to double the income of people living in crowded urban spaces by reducing their living expenditure.

I believe they have come up with a good scalable and sustainable idea which will impact million of lives and we call on all stakeholders to help make this possible - Frank Agyapong Campus Director, Hult Prize at University of Ghana.

Ahmad Ashkar, CEO and Founder of the Hult Prize attributed the success of the competition to the global youth revolution and said, “We continue to be moved by the large number of students from around the world who are capitalizing on the opportunity to develop business models that target the bottom of the pyramid. We wish every team the best of luck and thank University of Ghana for supporting this initiative.”

Following the regional finals, all winning teams from each host city will move into a summer business accelerator program, where participants will receive mentorship, advisory and strategic planning as they create prototypes and set-up to launch their new social business.

The final round of competition will be hosted at the Clinton Global Initiative Annual Meeting in September, where one team will be selected as the Hult Prize recipient. President Bill Clinton will award the USD 1,000,000 Prize to the winning team.

“The Hult Prize is a wonderful example of the creative cooperation needed to build a world with shared opportunity, shared responsibility, and shared prosperity, and each year I look forward to seeing the many outstanding ideas the competition produces.”