Hult Prize at HKUST 2024

Challenge the world by winning USD $ 1 million in seed funding through the Hult Prize Challenge 2024. The winner will get a chance to represent HKUST for the Hult Prize Summits in Thailand and get one step closer to the Global Accelerator and USD $ 1 million.

The Hult Prize is a global social entrepreneurship competition with a 1 million USD award for the winner. Every year it challenges university students around the world to put their time, talent, and innovative ideas towards solving the most pressing global problems.

1. Eligibility

• All students of HKUST must form a team of 3 - 5 members to enter the "Hult Prize at HKUST 2024" (the “Competition”).

A team can submit only one presentation for the Competition. An individual cannot be a member of more than one team at the competition. A team may not submit a presentation that violates the code of conduct (e.g., racially sensitive ideas will be automatically disqualified) and/or infringes intellectual property rights. HKUST Entrepreneurship Center (EC)  have the sole right to reject any presentation in violation as described above.

2. Focus of Hult Prize at hkust 2024:

This year, you can pitch any idea you have for a social enterprise, as long as it is world-changing and aligned with at least one of the United Nations Sustainable Development Goals (SDGs).

Case Booklet for Hult Prize Challenge 2024

3. Submission Details:

3.1 1st Round Submission (Deadline: 22 January 2024, 23:59):

Please SUMMIT the following to the Competition Platform.

1. A presentation of the problem/issue you want to solve to meet the objective of the Competition and your proposed solution (no more than 10 pages) in ONE PDF file.
2. 4-minute pitching video
3. Startup One-Pager

● There’s no strict requirement for the presentation but it should be able to deliver your solution to the problem/issue you want to solve to meet the objective of the Competition;

● Please refer to Section 5 for the judging criteria of the submission.

Please create the account and team profile in the startup tree platform first.

3.2 Final Round

● The top 10 teams will be shortlisted to the final round.

● Each team which enters the final round will be required to pitch in REAL TIME to the Finale Judging Panel within 4 minutes, followed by a 4-minute Q&A. English will be used during the presentation and Q&A.

● The top 10 teams will be announced on Monday, 5 February 2024. The top 10 teams will be given two weeks to revise the presentation and submit the final version by Friday, 16 February 2024, 12 noon(HKT). Late submissions and replacement of files will NOT be accepted.

● The top 10 teams will present one-by-one on the Final presentation on 23 February 2024. Therefore, all teams shall be ready to fully attend the final presentation week and give the presentation. Details of the final round arrangement will be announced in due course.

● Please refer to Section 5 for the judging criteria of the submission.

4. Intellectual Property

● All submissions remain the intellectual property of the teams that have developed them.

● By submitting an entry or accepting any prize, you represent and warrant the following: you will not submit content that is copyrighted, protected by trade secret, or otherwise subject to third party intellectual property rights or other proprietary rights, including privacy and publicity rights, unless you are the owner of such rights or have permission from their rightful owner to post the content; and the content submitted by you does not contain any viruses, Trojan horses, worms or other disabling devices or harmful code.

● Copyright:

○ Participant represents and warrants that he or she is the sole author and copyright owner of the submission and that the Submission is an original work of the Participant, or if the Submission is a work based on an existing application, that the Participant has acquired sufficient rights to use and to authorize others; and that the Submission does not infringe upon any copyright or upon any other third party rights of which the Participant is aware, and that the Submission is free of malware.

○ By participating in the Competition, each participant agrees to be legally bound by these Rules and by the interpretation of these Rules by the Organizer (HKUST Entrepreneurship Center), and further warrants and represents that his/her and/or his/her team’s Submission:

■ is original to at least one of the team members and at least one of the team members has obtained all necessary rights in and to the Submission (and all components thereof) to enter the Competition;

■ does not violate any law, statute, ordinance, or regulation;

■ does not contain any reference to or likeness of any identifiable third parties, unless consent has been obtained from all such individuals and their parent/legal guardian if they are under the age of majority in their jurisdiction of residence (note: if consent cannot be obtained for an individual appearing in the Submission, then his/her face must be blurred out and voice (if applicable) must be altered so as to be unrecognizable);

■ will not give rise to any claims of intellectual property infringement, invasion of privacy or publicity, or infringe on any rights and/or interests of any third party, or give rise to any claims for payment whatsoever; and
■ is not defamatory, trade libelous, pornographic or obscene, and does not violate any laws relating to hate speech, and further that it will not contain, depict, include or involve, without limitation, any of the following: nudity; alcohol/drug consumption or smoking; explicit or graphic sexual activity, or sexual innuendo; crude, vulgar or offensive language and/or symbols; derogatory characterizations of any ethnic, racial, sexual or religious groups; content that endorses, condones and/or discusses any illegal, inappropriate or risky behavior or conduct; personal information of individuals, including, without limitation, names, telephone numbers, and addresses (physical or electronic); commercial messages, comparisons or solicitations for products or services; any identifiable third party products, trademarks, brands and/or logos (note: if the necessary consents cannot be obtained, then all identifiable third party products, trade-marks, brands, and/or logos must be blurred out so as to be unrecognizable); conduct or other activities in violation of these Rules; and/or any other content that is or could be considered inappropriate, unsuitable, or offensive, all as determined by HKUST Entrepreneurship Center in its sole and absolute discretion.

5. Submission Selection/Judging Criteria

● Submissions will be judged based on the following criteria:

====== 1st Round Submission ====== 

Team（25%）

• Team's commitment, diversity of backgrounds and skill sets
• Clear definitions of roles and responsibilities.

Idea (25%)

• Deep understanding of the problem and affected audience.
• Effectiveness and sustainability of the solution.
• User feedback integration and prototype testing.

Impact(25%)

• Proposed Social Enterprise(SE) targeting at least one UN SDG.
• Significant positive impact on the environment and/ or people by 2030.
• Incremental impact growth with revenues.

Business(25%)

• Thoroughly developed business model.
• Realistic pathway to financial sustainability.
• Potential to disrupt and scale.

Total 100%

6. Winner Selection/Judging Criteria

● Winners will be judged based on the following criteria:

 ====== Final Round ======

Team（25%）

• Team's commitment, diversity of backgrounds and skill sets
• Clear definitions of roles and responsibilities.
• Compelling pitch, confident management of Q&A

Idea (25%)

• Deep understanding of the problem and affected audience.
• Effectiveness and sustainability of the solution.
• User feedback integration and prototype testing.

Impact(25%)

• Proposed Social Enterprise(SE) targeting at least one UN SDG.
• Significant positive impact on the environment and/ or people by 2030.
• Incremental impact growth with revenues.

Business(25%)

• Thoroughly developed business model.
• Realistic pathway to financial sustainability.
• Potential to disrupt and scale.

Total 100%

7. Awards:

Gold Award: HKD$5,000 + Certificate for all members of the Team + Air Ticket Sponsorship for Thailand Summit

Silver Award: HKD$3,000 + Certificate for all members of the Team

Bronze Award: HKD$1,000 + Certificate for all members of the Team

● The prize of Hult Prize at HKUST 2024 prize is non-transferable by the winner. If you accept a prize, you will be solely responsible for all applicable taxes, if any, related to accepting such prize.

 8. Privacy and Disclaimer

● Any personal information you choose to provide will only be used for the purpose for which it was provided and will not be disclosed to other persons or organizations without your prior consent or if required by law.

● The Internet is an insecure medium and users should be aware that there are inherent risks transmitting information across the Internet.

● Information submitted unencrypted via electronic mail or web forms may be at risk of being intercepted, read or modified.

● The HKUST Entrepreneurship Center reserve the right to accept or decline any persons, teams or organizations participating in the Competition and any activities or events associated with it, with or without prior notice or reason.

● Photos taken (if any) at the Competition and information related to the Competition will be shared among the Organizer and be published for publicity purposes of the event.

● The decision of the Panel of Judges of the Competition and the interpretation by the HKUST Entrepreneurship Center will be final.

● Dates of the events and other arrangements are subject to change due to feasibility and other factors. The organizer will try their best to minimize any inconvenience that may be caused to participants.

● The organizer will not be held liable for any damage or loss in any form arising from the event and for the participants.