What you need to know:
- Former United States President Bill Clinton will host the Hult Prize Global Finals.
- Apart from the Sh100 million seed capital, the winners will also receive mentorship and advice.
Africa Nazarene University has been selected to host for a global competition that awards Sh100 million for start-up businesses.
The competition, dubbed Hult Prize, is start-up accelerator for budding young entrepreneurs emerging from the world’s universities.
The competition will be open for university students who are required to form a group of three members and start a business aimed at solving an issue affecting global communities.
“The students will be judged by their ability to develop an innovation that can solve current world societal challenges, student participants will be working in teams to compete for a chance to win seed capital for their start-up idea,” says John Ngila, Hult Prize campus director.
Mr Ngila, who will be leading the Hult Prize Nazarene University initiative, said the selection process will be spearheaded by an elite selection committee whose members will include a government official, corporate executive, established entrepreneur, international development expert and a subject matter expert.
Already 26 teams have registered for the competition.
Apart from the Sh100 million seed capital, the winners will also receive mentorship and advice from the international business community.
Only one overall winner will take home the Sh100 million, however, each regional winner will get to spend time inside of the Hult Prize Accelerator, which is an innovative incubator for social enterprises.
Former United States President Bill Clinton will host the Hult Prize Global Finals where regional champions will pitch their start-ups in-front of a world-class audience.