Pitch a business idea that addresses the global food crisis and compete for a chance to win $1 million US to fund your enterprise. Anyone can enter the online competition. You need to put together a team of 4-5 people and pitch a viable business that addresses the growing global food crisis.
The Hult Prize is fairly new, and is funded by Swedish billionaire Bertil Hult. The Hult business school runs the prize in collaboration with former US President Bill Clinton.
The winner of the online competition will join the five business school finalists in an accelerator to further develop their business plan and then to prepare their pitch to compete for the prize of $1 million in New York at the Clinton Global Initiative meeting, where they will pitch to former US president Bill Clinton. It could be you and your team! This year, for the business school competition, Hult received over 10,000 entries from more than 350 schools in 150 countries. Regional rounds of competition were held in Boston, San Francisco, London, Dubai and Shanghai. The five finalists from the business school competition have already been selected, but the online competition is currently underway.
Even if you don't want to enter, you can still participate by voting for the best online solution. Online voting will close on May 12, with the online competition winner announced on May 20. The following day the business school teams and the online winning team will enter an accelerator in order to prepare their business to win the grand prize.
Get started here. For inspiration, check out this fascinating story by David Bornstein published in the New York Times's Opinionator. The story details an innovative approach to spreading knowledge about growing food among the world's poorest and often illiterate farmers. Note though that this initiaitve would not really qualify since it requires funding rather than financing. Borenstein runs an interesting site Solutions Journalism Network which supports reporting on responses to social problems.