Addis Ababa University has kicked off the latest edition of the Hult prize Oncampus Program last week. The competition, in its third round, has the theme “Challenging Students to Redesign Fashion,” launching an innovative social venture in the clothing and fashion industry to make it more sustainable.
The Hult Prize competition is part of a global movement focused on students and businesses that aim to solve various social problems across the world, and the event focuses on students and their business ideas that could change social issues worldwide.
This year’s edition of the Hult Prize AAU on campus is organized in partnership with Kazana Group, a local holding company with a portfolio of over 18 companies.
With a $1 million global startup prize as its anchor activity, the Hult Prize has brought impact-focused programs, events, and trainings globally. The competition revolves around businesses that are aimed at solving various social problems across the world.
Betelehem Tesfaye, Portfolio Manager of Kazana Group, emphasizing the role of the private sector in supporting youth entrepreneurship, said, ‘’The private sector must be considered as the primary development agent that fosters an enabling environment for Ethiopia’s demographic dividend, mostly represented by the youth, to build innovative businesses and create much-needed job opportunities.’’
The last edition of the Hult Prize at Addis Ababa University concluded with a team of 4th-year students from Addis Ababa Science and Technology University advancing to the regional finals. The team won first place for their pitch on an app that facilitates on-campus food delivery services while creating job opportunities for students with financial limitations.
In nearly a decade, and together with over 2,500 staff and volunteers around the world, the Hult Prize movement has deployed more than $50 million of capital into the sector and mobilized more than one million young people to re-think the future of business as it continues to breed disruptive innovation on college and university campuses across 100 plus countries.