Four U of T teams in the Hult Prize running

Four teams from the University of Toronto have advanced to the regional round of the Hult Prize, an international competition for startup student enterprises that address pressing social issues.

This is the third year in a row that U of T entries have advanced this far in the contest, which offers US $1 million is seed capital to the winner.

Last September, Team Attollo, comprising management and engineering students, reached the finals in New York City with their “talking stickers” aimed at enhancing early cognitive development.

The Hult theme this year concerns crowded urban space. The call to action asks: “Can we build social enterprises that double the income of 10 million people living in crowded spaces in the next five years by better connecting people, goods services and capital?”

U of T entrants are:

• Team Vicis, comprising two MBA students, a MASc in biomedical engineering and a master of global affairs student, who aim to link small-scale savers, including street vendors, with larger-scale investment opportunities;
• Team Credio, three engineering masters and a master of information student developing a mobile résumé and referee system for urban migrants looking for work;
• Team Kaizen, with three MBA students and an OISE MA candidate exploring the benefits of 3D printing for “the bottom billion”; and
• Team Empact, four full-time MBA students seeking to partner investors with vocational institutions to promote skilled training in underserved job markets.

“It’s really inspirational to see the qualifying teams hard at work trying to solve a problem of this magnitude,” says Jamal Khayyat, Rotman MBA’16, who is the U of T Hult campus director. “Seeing their passion and potential impact illustrates the power of social entrepreneurship to the entire university community.”

Supported by the Hult International Business School and the Clinton Global Initiative, the Hult Prize is considered the largest student competition in the world. Former U.S. president Bill Clinton will announce the 2016 winner in New York on Sept. 29, 2016.

The Hult Prize competition last year started with more than 20,000 entrants. The winners were IMPCT from National Chengchi University. For more information on the prize, go to www.hultprize.org.