This year’s Hult Prize competition to motivate students to become entrepreneurs will also be held at Eastern University
By Rabindra Dhungel, 3 October 2020. It is going to be organized at the Himalayan College of Agriculture Science and Technology (Hikasht). The Hult Prize is known around the world as the Nobel Prize for Students. Winners are announced based on various activities in the competition. The winner will receive a prize of more than one crore rupees (one million US dollars) according to the current Nepali exchange rate.
Kamana Kafle, director of Hult Prize Hikasht, informed that the on-campus program under Hult Prize is being conducted in Hikasht for the first time. The Hult Prize is considered as a stepping stone for business development and expansion for enterprising students. As it is an international open platform, it is a great opportunity for entrepreneurs or students who want to start a business, Kafle said.
She claimed that the competition would be useful for students with start-up ideas to establish close ties with entrepreneurs and successful entrepreneurs from home and abroad. The Hult Prize will have four different stages and will be the first on-campus, she said. This phase takes place in various universities and campuses around the world.
Kafle said that the contestants will be given various trainings, workshops, seminars and refined to help them start a start-up idea and turn it into a business.
The on-campus winner will be selected in the regional level competition in the second round. The winner of the second round will be awarded the title of ‘Hult Prize the Regional’. The regional level winners will have a chance to compete in the third round under the Accelerator, she said.
The final stage of the competition, which runs for six to eight weeks, is called Acceleration. She said the winner of the final round would have the opportunity to come to the UN headquarters and present their ideas to compete in global finance. If you excel in this, the contestant will get a prize of more than one crore rupees.
More than 300,000 students from more than 2500 educational institutions from 121 countries will participate in the competition, according to the organizers. Along with Purwanchal, other universities in Nepal are also holding competitions under the Hult Prize.