Winner automatically advances to regional competition for a chance at $1 million
TAMPA — On Friday, Dec. 11, 10 teams of three to four University of Tampa students will compete for a chance to win $1 million in startup capital. UT is one of approximately 25 colleges and universities chosen to host a local edition of the Hult Prize, allowing the winning team to bypass the application round and go straight to regional competition. The UT event will be held from 1–4:30 p.m. in the John P. Lowth Entrepreneurship Center on the eighth floor of the Innovation and Collaboration Building.
The Hult Prize, in partnership with the Clinton Global Initiative (CGI), is a startup accelerator for social entrepreneurship which brings together college and university students from around the globe to solve the world’s most pressing issues. This year’s challenge, selected by President Bill Clinton, is to build a sustainable, scalable and fast-growing social enterprise that will double the income of 10 million people living in crowded urban slums by 2022.
The winner of the UT event will automatically advance to compete in the regional finals March 11–12, 2016, in Boston, one of six global locations where regional finals are being held.
The six regional finalists spend the summer at the Hult Prize Accelerator, a six-week program of intensive entrepreneurial seminars hosted by Hult International Business School, to hone their business concept and proposal.
A final round of competition will be held during the CGI annual meeting in September 2016, where the winning team will be awarded the $1 million prize.
The annual Hult Prize competition is the world’s largest crowdsourcing platform for social good. Each year, $1 million in startup funding is awarded to the team of students that develops the most radical and breakthrough idea to solve one of the world’s toughest social challenges.
“I believe in the diverse culture of our University,” said Caio Amaral ’16, UT’s Hult Prize campus director, who is spearheading the event. “It’s all about the execution of a simple idea that will impact millions of lives.”
The event is sponsored by the Sykes College of Business, Lowth Entrepreneurship Center, Benchmark International and TiER1 Performance Solutions, with additional support from Xpress Printers.
General admission tickets for students will be handed out this week in the Vaughn Center lobby from 11 a.m.–1 p.m.
The Hult Prize Foundation is a startup accelerator for social entrepreneurship, which 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. To learn more, visit www.hultprize.org.
Established in 2005 by President Bill Clinton, the Clinton Global Initiative (CGI), an initiative of Bill, Hillary and Chelsea Clinton Foundation, convenes global leaders to create and implement innovative solutions to the world’s most pressing challenges. CGI Annual Meetings have brought together more than 150 heads of state, 20 Nobel Prize laureates, and hundreds of leading CEOs, heads of foundations and nongovernmental organizations, major philanthropists, and members of the media. To date, CGI members have made more than 2,500 commitments, which are already improving the lives of more than 430 million people in over 180 countries. When fully funded and implemented, these commitments will be valued at $87.9 billion.
The University of Tampa is a private, residential university located on 105 acres on the riverfront in downtown Tampa. Known for academic excellence, personal attention and real-world experience in its undergraduate and graduate programs, the University serves 8,037 students from 50 states and 140 countries. Approximately 60 percent of full-time students live on campus, and about half of UT students are from Florida.