University of Ibadan can produce next generation business leaders, says campus director

STUDENTS at the University of Ibadan are gearing up to make it to the finals and possibly win the $1 million grand prize in the Hult Prize competition.

The Hult Prize is the acclaimed world’s largest engine for the creation and launch of market based, Sustainable Development Goals (SDG) aligned, sustainable and impact-centred startups emerging from universities, offering a grand prize of USD1 million.

According to the foundation, “The Hult Prize Foundation continues to transform lives as well as communities. As the leading programme for action-based, immersion-driven and SDG aligned student entrepreneurship, it mobilizes the smartest minds from more than 100 countries to apply their business thinking to solve the world’s most pressing issues.”

The Hult Prize Foundation says it “challenges young people to solve the world’s toughest issues by empowering them to make money, do good, and make life better for millions of people through the creation of for-good, for-profit businesses.”

“The Hult Prize, in so many ways, represents the way the world has to function in the 21st Century,” President Bill Clinton commented.

Powered by a team of 2,500 staff and volunteers and an organizing workforce of more than 10,000 students, the Hult Prize welcomes annual participation of over 100,000 persons from more than 100 countries.

Through on-campus, national and global level programming, the Hult Prize aims to launch the next generation of entrepreneurs who are impact-centred, profit-minded and market-driven.

The organisation says it aims at experiential learning. “The Hult Prize truly emphasizes a practical approach to learning how to become an impact entrepreneur. Students build a team, brainstorm ideas, start a business, and pitch to impressive audiences. Those who don’t compete, organise. A student work force of more than 10,000 organisers facilitate trainings, recruit judges and evangelise the very concept of the for-good, for-profit enterprise. When it comes to entrepreneurship, there is no substitute for real experience.”

 

Hult Prize On Campus Programme

The Hult Prize On Campus Programme brings Hult Prize directly to universities around the world. It allows student leaders to organise their own localised version of the Hult Prize, using a turn-key toolkit and the support of dedicated staff at the Hult Prize Foundation.  The local programme gives the university’s winning team the chance to bypass the general application round, and fast-track into one of the Regional Finals. Run entirely by volunteer student Campus Directors, the Hult Prize On Campus Programme gives students a vital role to play in changing the trajectory of some of the world’s toughest challenges, starting in their own communities and countries. The events organised on campus provide teams with opportunities and resources, as well as spreading awareness in their university of a pressing global issue.

Hult Prize On Campus Programme at University of Ibadan

In partnership with the United Nations, the Hult Prize Foundation is hosting college and university events around the world in search of the next game-changing start-up. Oladimeji Ojo leads the Hult Prize Competition at University of Ibadan. As campus director, Ojo said he is confident that his peers on campus have a good chance as anyone else to go all the way and win this year’s Hult Prize Global Finale which will hold September 2019 during the United Nations Global week.

Ojo explains the process: “Participating teams will comprise minimum of three students and maximum of four. The winner of the on campus event will automatically advance to compete in one of 15 regional finals happening around the world next year March.” Certain cities across the world will be host regional finals, he explained.

He added that, “One winning team from each host city will then move onto a summer business incubator where participants will receive mentorship, advisory and strategic planning from world-class social entrepreneurs as they create prototypes and set-up to launch their new social business.  A final round of competition will be hosted in September 2019, where the winning team will be awarded the $1 million seed prize.”

Ojo said that the Hult Prize at the University of Ibadan will be more than just a competition. This year, he said, there are plans to develop participants in human capital through bootcamps such that each becomes a solution wherever they find themselves.

The campus director said he “believes University of Ibadan can produce the next generation of businesses leaders who will drive the country’s economy.” He encouraged individuals to be a part of the on-campus event, stressing that the university can represent Nigeria at the global scene, and probably come out victorious.

“Hult Prize will be more than a competition, but an avenue to groom minds towards social entrepreneurship. Hult Prize is a start-up accelerator for social entrepreneurship that brings together the brightest college and university students from around the globe to solve the world’s most pressing issues. The annual initiative is the world’s largest student competition and crowd-sourcing platform for social good, and has been funded by the Hult family since its inception in 2009,” he added.

Speaking on achievements made in the previous year, Ojo said, “In 2017/2018, our winning team – Green Drive – makes business from smart agriculture. They got an automatic entry to one of the regional finals. Unfortunately, they were not able to secure enough funds to support their trip to the regional events. They were able to join in the semi-finals at the Nationals in Abuja, but they didn’t make it.

“This academic year of 2018/19, the Hult Prize Organising Committee aims at organising another successful on campus programme, and we hope it will produce a winner in the regional event, and will make it to the grand finale in the United Kingdom.”

 

About the founder

Mr Ahmad Ashkar is the Chief Executive Officer and Founder of the Hult Prize Foundation. Reports say he was once named in a TIME Magazine cover story featuring the top five ideas changing the world.  Founded in 2009, the foundation represents the world’s largest community of impact-centred and profit-minded startup entrepreneurs emerging from university with a network of over 1.6 million students and alumni.

Recognised as the 2017 CEO of the Year by Arabian Business and the 2016 Esquire Magazine Entrepreneur of the Year, Ahmad has spent nearly a decade creating, launching and advising for-good, for-profit companies in more than 100 countries.  Ahmad is an authority in entrepreneurship and venture philanthropy, having created open innovation platforms for leading corporations, philanthropists, businessmen and government leaders across the world, including co-founding, “The Laudato Si Challenge – Inspired by Pope Francis.”

He serves as an advisory board member of the United Nations Development Program and is a member of  the Entrepreneurs Expert Network of  the World Economic Forum.