Hult Prize: LACM to hold On-Campus Final

Little Angels’ College of Management (LACM) is all set to organize the On-Campus final of the Hult Prize for the year 2022/23 at its premises on 30th January, 2023.

The Hult Prize with prize money of $ 1 million – an annual, year-long competition that crowd-sources ideas from university level students – is a global startup prize which “challenges young people around the world to solve the planet’s most pressing issues through social entrepreneurship”.

The 2023 Hult Prize challenge theme is “Redesigning Fashion”. The third-largest industrial sector in the world, the fashion industry now contributes over $2.4 trillion to the global economy due to the rapidly expanding demands and needs in the sector.

A team of minimum 3 but not exceeding 4 members is eligible to take part in the competition. But, the team members must be full or part-time undergraduate or graduate students enrolled at a higher education institute.

To compete for the $1 million prize at the Final in Paris, the team must go through the following four phases;

a)They must compete in the year-round On-Campus programs with other teams at their university, or apply independently through the General Application.

b)The winner of the On-Campus program will then compete in the Regional Summits which take place in around 50 cities worldwide for a spot at their 4-week Global Accelerator program.

c)Through the Global Accelerator program, the semi-finalists transform their business ideas into investment-ready social ventures with four intensive weeks of mentorship and preparation.

d)Only a few selected teams compete and pitch their ideas in front of globally renowned judges in Paris.

 The LACM, providing academic excellence since 1999, is organizing the Hult Prize for the second time under the leadership of Abhishek Bhattarai, Campus Director for Hult Prize.

The organizing committee of the Hult Prize at LACM has been conducting various workshops and other activities with the help of professionals and experts in order to help participating teams to prepare for the competition. The activities and training include business model canvas preparation, knowledge sharing on sustainable business ideas, brainstorming sessions, and many more.