The Hult Prize at HKUST 2024 culminated in an inspiring event last Friday, showcasing the innovative spirit of our students. Ten teams competed for three awards, exceeding the value of HKD 10,000. The standout team, InsectX, clinched the Gold Award and is set to represent HKUST at the Hult Prize Final at the Thailand Summit, with the additional perk of sponsored airfare.

Team InsectX, which also secured the Gold Award and Best Presentation at Techathon 2024, is at the forefront of eco-innovation. Their project merges natural insect behaviours with advanced genetic engineering to offer a pioneering, cost-effective solution for food waste management and the production of sustainable biodiesel.

Dr. Shin Cheul Kim, Associate Vice-President for Research and Development, emphasized the essence of the competition in his opening address, stating, “We embark on these social ventures not just for the competition but to effect real change. At HKUST, we are imbued with a strong ethos of entrepreneurship and innovation. We take pride in our research and development, as well as our unwavering commitment to creating social impact and improving our world.”

Marking its inaugural year at HKUST, the Hult Prize event left a lasting impression on Prof. Carrie Ling, Director of the HKUST Entrepreneurship Center. She praised the ingenuity of the business models presented and expressed enthusiasm for HKUST's continued engagement with the Hult Prize in the coming years.

Often dubbed the "Nobel Prize for students" by Nobel laureate Muhammad Yunus, the Hult Prize stands as a testament to global social entrepreneurship. This annual competition challenges university students worldwide to invest their time and talent in developing innovative solutions to the planet's most urgent issues, offering a grand prize of 1 million USD to the winner.