Celebrating the 15th Anniversary of The Hult Prize, Sixteen Start-Ups Selected to Become Semi-Finalists Competing for $1 Million USD in Investment Funding

News provided by

Jul 10, 2024, 07:00 ET

More than 9,400 University-Student-Led Start-Ups from Across the Globe Joined Competition Aimed at Solving One or More of the Seventeen U.N. Sustainable Develop Goals
Semi-Finalists Head to Ashridge House in England for Three Week Global Accelerator Working on their Business Plans and Investment Pitch
Six Finalist Teams will be Chosen to Compete for Million-Dollar Investment Prize in London on September 6, 2024

CAMBRIDGE, Mass., July 10, 2024 /PRNewswire/ -- Celebrating 15 years of social entrepreneurship, the Hult Prize competition today announced that sixteen university-student-led start-ups would compete as semi-finalists for $1 million USD in investment funding. More than 9,400 start-ups entered into the competition aimed at solving some of the world's biggest sustainable development challenges as defined by the United Nations.

These sixteen start-ups, representing more than twenty-five countries, will depart in August to Ashridge House, just outside of London, England, to engage in the Global Accelerator round. Start-ups will continue to work on their business plans and investment pitches through extensive mentoring from experts, with six teams chosen to compete in the finals in London on September 6, 2024.

"For fifteen years, the Hult Prize has created opportunities for students to become innovators and problem solvers working to make measurable improvements within their communities and the world," said Lori van Dam, Chief Executive Officer, Hult Prize. "Through the support of the Hult family, Hult International Business School and EF Education First, we can demonstrate that for profit, for-good start-up companies can change the world for the better, solving some of the most complex challenges in our time."

Semi-finalist teams (listed in random order) include:

Company Name	University	Location	Description
ProtonCraft Innovations	Indian Institute of Technology, Roorkee	Roorkee, Uttarakhand, India	Creating Hydrogen Goldmines: Only way to decarbonize the industries.
Reagan Technologies	Africa University	Mutare, Zimbabwe	A climate-smart pavement kinetic tile technology that generates green electricity from human motion.
Plastus Biotech	University of California, Berkeley	Berkeley, California, United States of America	Converts organic waste into PHA biodegradable bioplastics through precision fermentation.
Owanga	Emory University	Atlanta, Georgia, United States of America	Provides affordable, on-demand electricity through portable battery packs, ensuring accessible and sustainable energy solutions wherever and whenever needed.
Viridescent	University of New South Wales	Sydney, New South Wales, Australia	Sustainable Algal biodiesel for farmers produced by farmers.
Sea Energy	Dartmouth College	Hanover, New Hampshire, United States of America	Sea power harnesses ocean wave movement to generate zero-emission electricity.
Agroficient	Baku Higher Oil School	Baku, Azerbaijan	Innovating a biodegradable hydrogel to support farmers in regions where irrigation is limited or unavailable, ultimately boosting their yields sustainably.
Madlab	Columbia University	New York, New York, United States of America	Creating the first self-administered pre-exposure test to detect the five deadliest lacing agents in recreational drugs and drinks.
Korion Health	University of Pittsburgh	Pittsburgh, Pennsylvania, United States of America	Enabling high-quality, affordable, and engaging health screenings from home to combat heart and lung disease.
Bluekali	Tecnológico de Monterrey	Monterrey, Mexico	Developed nature-based technology to clean rivers and oceans and environmental tools, making waste management tasks more efficient.
Lothgha App	Mansoura University	Mansoura, Dakahlia Governorate, Egypt	An innovative app that enables you to speak confidently and improve your linguistic abilities, serving as a solution to treat speech problems.
ExoHeal	Constructor University	Bremen, Germany	Revolutionizing hand paralysis rehabilitation with accessible, advanced robotic therapy for faster, at-home recovery.
Rethread Africa	University of Nairobi	Nairobi, Kenya	Making the next generation of biomaterials from agriwaste to be softer than natural fibers, more sustainable than plastic synthetics, and biodegradable at their end of life.
Xatoms	University of Toronto	Toronto, Ontario, Canada	Purifying water with quantum chemistry and AI.
Bean Around	University College Dublin	Dublin, Ireland	Repurposing company with a strong focus on the circular economy that transforms used coffee grounds into value-added products.
HerLens	Universitas Indonesia	Depok, West Java, Indonesia	Transforming cervical cancer screenings by empowering doctors, midwives, and healthcare professionals with AI-enhanced interpretations of VIA (Visual Inspection with Acetic Acid) tests.

"Congratulations to all the semi-finalists, and while one start-up will win the investment prize, we hope that this experience will help each of these worthy ventures continue on to develop into thriving businesses that make this world a better place," added van Dam.

Hult Prize: Competition Overview

In total, approximately 40,000 students representing more than 9,400 start-ups entered the year-long Hult Prize competition, which started on campuses in 113 countries around the world in September 2023 and went through several elimination rounds.

In June 2024, semi-finals were held via online review and live events in seven cities worldwide, including Mumbai, Nairobi, Lisbon, Dubai, Bangkok, Monterrey MX, and Boston.

A narrowed field of sixteen semi-finalist teams will move to the Global Accelerator, which starts virtually in July.

In August, semi-finalists will move to Ashridge House in the United Kingdom, where they will transform their ideas into investment-ready social ventures during three weeks of intensive 1:1 mentoring and coaching ahead of the global finals.

The final winner will be announced on September 6, 2024, in London.

In September 2023, Banofi Leather was the most recent start-up business to win the Hult Prize. The sustainable fashion company converts banana waste into a sustainable vegan leather.

The Hult Prize started at Hult International Business School, whose pedagogy and commitment to experiential learning remain embedded in how the competition works. The competition and prizes are funded by the Hult family, founders and owners of EF Education First.

The seventeen United Nations sustainable development goals (SDGs) are as follows:

No Poverty
Zero Hunger
Good Health and Well-being
Quality Education
Gender Equality
Clean Water and Sanitation
Affordable and Clean Energy
Decent Work and Economic Growth
Industry, Innovation and Infrastructure
Reduced Inequalities
Sustainable Cities and Communities
Responsible Consumption and Production
Climate Action
Life Below Water
Life on Land
Peace, Justice and Strong Institutions
Partnerships for the Goals

You can learn more about each goal on the United Nations Sustainable Development Goals website: https://sdgs.un.org/goals

Interested in attending the invite-only global finals in London? Please contact us at [email protected].

ABOUT HULT PRIZE
Hult Prize inspires student entrepreneurs to solve the world's biggest challenges through innovative social enterprises with positive global impact. Through our year-long competition, over 180,000 young people in more than 110 countries work to create high-impact start-ups that address the UN Sustainable Development Goals. Finalists pitch their businesses to a panel of expert judges, and the winning team receives $1 million USD in funding to make their idea a reality.

SOURCE Hult Prize Foundation