Ethiopia: Innovation - Third Round Hult Prize On Campus Kicks Off At Addis Abeba University

6 December 2022
Addis Standard (Addis Ababa)

Addis Abeba Addis Abeba University (AAU) kicked off the latest edition of the HULT prize on-campus program with them "Challenging students to Redesign Fashion, launching an innovative social venture in the clothing and fashion industry to make it more sustainable". It's part of a global movement focused on students and businesses that aim to solve various social problems across the world. Also called the "Nobel Prize for students' the event focuses on students and their business ideas that could change social problems 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 operating in a diverse array of industries & sectors empowering African entrepreneurs as they are the principal stakeholders in the impetus towards inclusive growth and development.

With a US$1,000,000 global startup prize as its anchor activity, the Hult Prize has brought impact-focused programs, events, and training to over a million students globally, creating a pathway for youth everywhere to take action to build a better world.

The Hult Prize competition is a global movement that is student-centered and that revolves around businesses that are aimed at solving various social problems across the world. It brings together some of the brightest and most innovative students from all over the globe as a means to create an environment that can foster innovation of business ideas that are geared towards solving social problems.

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 Addis Abeba university on campus concludes with a team of 4th-year students from Addis Abeba Science and Technology University advancing to the regional finals. The team stood first place from their pitch on an app that facilitates on-campus food delivery services while creating job opportunities for students with financial limitations.

The Hult Prize is the world's biggest engine for the launch of for-good, for-profit start-ups emerging from universities worldwide. In nearly a decade, and together with over 2,500 staff and volunteers around the world, the movement has deployed more than $50 M 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.

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