Shaping up the future of social entrepreneurship

The Hult Prize, often called the "Nobel Prize for Students," is a global, year-long competition that challenges undergraduates to create business ideas addressing some of the world's most pressing issues in alignment with the UN Sustainable Development Goals. This year, following the tradition of universities across the country, the Islamic University of Technology (IUT) hosted its much-anticipated on-campus competition, offering students a chance to ignite their entrepreneurial spirit. The theme for this year, "Unlimited," encouraged participants to think creatively and come up with groundbreaking solutions that have the potential to create meaningful change worldwide.

The competition kicked off with a series of rigorous rounds, where the brightest minds of IUT battled it out to showcase their entrepreneurial prowess. The journey began with the Abstract Submission phase, which concluded on February 06, followed by the semi-finals on February 11. The final presentation on February 22 revealed the top six teams, each presenting their bold ideas to an esteemed panel of judges.

This year, Team Checklist claimed the On-Campus Winner title, while Team Let That Slide In and Team Last Minute secured the first and second runners-up positions, respectively. However, the competition was fierce, with Team Zero, Team EcoBricks, and Team Dogs Under the Wall Street were also recognised as outstanding finalists. These teams showcased exceptional creativity and determination, making the decision for the top three a challenging one.

The judging panel for the final round consisted of industry experts: ImrezIshraque, manager - Regulatory Affairs, Commercial & Digital Business at Banglalink Digital Communications Ltd; Chowdhury Sakif Ahbab, IWS process lead at FMD Savar-BATB; and Jafrin Rahman Nahin, service development specialist at Berger Paints Bangladesh Limited. Their insights and expertise provided invaluable feedback to the participants, helping them refine their ideas further.

Reflecting on the experience, Jafrin Rahman Nahin shared, "Stepping into the role of a judge and mentor of this year's Hult Prize campus round was a fulfilling experience. As I watched passionate teams pitching their ideas, I had this surreal realisation that young students in our generation are so creative and innovative. It was a learning ride for me as well to see participating teams pushing boundaries, thinking out of the box, and coming up with startup ideas that actually have the potential to be a game-changer in the industry."

Imrez Ishraque echoed similar sentiments, stating, "It was an innovative showcase of sustainable business solutions. Teams put in great effort towards feasible ideation, which can make a vital impact if applied."

Chowdhury Sakif Ahbab added, "Being part of small dreams that begin to aim for the peak is rewarding in itself. IUTians have a bright future ahead as they not only work hard but also progress towards a greater purpose of shaping society."

IUT's remarkable track record at the Hult Prize is a testament to the university's commitment to nurturing social entrepreneurs. In previous years, IUT teams have earned impressive accolades, including Regional Semi-Finalists in 2022 in India, Regional Finalists in 2024 in Pakistan, and even securing the title of Hult Prize winner in 2018.

The winning team, Team Checklist, also shared their thoughts on their journey. "It was an incredible journey. It was important for us to not only come up with a unique idea for a start-up but also make the world a better place. And through the Hult Prize, we were actually able to combine the best of both worlds. We learned a lot about how important it is to focus on little details in making a plan and how much work is needed to make it feasible. Most of all, we really enjoyed the experience. We want to take our idea and pitch it to the entire world one day. We are confident that the dream to make a change in the world can be achieved through our startup."

The top teams from IUT are now poised to take their ideas to the next level at the national competitions, where they will compete against innovative teams from around the world. Teams that succeed will enter the Digital Incubator to further refine their ideas, develop prototypes, and receive invaluable mentorship. From there, they will progress to the Global Accelerator, which culminates in the Global Finals, where the winning team will secure $1.0 million in seed funding to turn their visionary idea into a reality.

With this year's competition, the Hult Prize at IUT has once again proven its ability to inspire future leaders, fostering business acumen, critical thinking, teamwork, and leadership skills. The event's success, driven by outstanding presentations, expert guidance, and meaningful interactions, leaves a lasting impression on participants and attendees alike.

The writers are from IUT. They can be reached at [email protected] and [email protected]