Finalists compete to solve the global food crisis
Student teams representing over 11,000 applicants from more than 150 different countries and over 350 colleges and universities answered President Clinton's call to action. Teams were then selected to participate in regional finals held in Boston, San Francisco, London, Dubai, Shanghai, and online. Six of these teams then won the right to attend the Hult Prize Accelerator for startups, then pitch their social business ideas to President Clinton at the Clinton Global Initiative (CGI) Annual Meeting in New York. And, of course, only one team could win the coveted Hult Prize-USD1 million in startup seed money. All of the finalists however, received a full, one-year membership into the Clinton Global Initiative.
Congratulations to the 2013 Hult Prize winning team: Aspire | McGill University
Here is an overview of the winning solution in the team's own words:
Apsire learned through research during the summer that food insecurity is not an issue of lack of food. The vast majority in urban slums do not go hungry. But they lack access to affordable nutrition. Many suffer from malnourishment and nutrient deficiencies despite being overweight or obese. Therefore, the problem of food security in urban slums is not one of food being expensive per se, but of nutritious food being unavailable or overpriced compared to cheaper, less nutritious offerings.
Our disruptive social enterprise, Aspire, aims to improve access to edible insects worldwide. We develop and distribute affordable and sustainable insect farming technologies for countries with established histories of entomophagy, or insect-consumption. Our farming solutions stabilize the supply of edible insects year-round, drastically improving and expanding the economic ecosystem surrounding insect consumption in the regions serviced. Not only do our durable farming units create income stability for rural farmers, they have a wider social impact by lowering the price of edible insects. This is central to our mission of increasing access to highly nutritious edible insects amongst the poorest, and therefore neediest, members of society.
2013 Global Finals
On September 23, 2013, President Bill Clinton hosted the Hult Prize Global Finals and Awards Dinner as the opening event of the Clinton Global Initiative (CGI) Annual Meeting in New York. The following six finalist teams pitched their start-ups, which were aimed at solving the Global Food Crisis in front of a world-class audience of political leaders, philanthropists, social entrepreneurs, and media luminaries. President Clinton and Muhammad Yunus along with Steve Andrews, CEO of Solar Aid, Erathrin Cousin, CEO of the World Food Program, Peter Sands, CEO of Standard Chartered Bank, Desh Deshpande, Chairman of the Deshpande Foundation, Kathy Calvin, CEO if the United Nations Foundation and Premal Shah, Paypal co-founder and President and co-founder of Kiva, judged and finally selected McGill University as the winner of the 2013 Hult Prize. McGill will recieve USD1 million in start-up funding, donated by Swedish entrepreneur Bertil Hult and his family. The winning team were then featured in the following day's plenary session. Each of the six finalist start-ups received a full year's membership to the Clinton Global Initiative, and support from its members to continue to develop their social business ideas.
- McGill University
Boston Regional Final
- Hult International Business School
San Francisco Regional Final
- University of Cape Town
London Regional Final
- ESADE Business School
Dubai Regional Final
- Asian School of Management
Shanghai Regional Final
- London School of Economics
Online Regional Final
2013 Regional Finals
On March 2, 2013, student teams were selected from over 11,000 applicants-representing the 350 colleges and universities listed below-to pitch their innovative social ventures for solving the Global Food Crisis at one of five Regional Final events. These were hosted by Hult International Business School at their campuses in Boston, San Francisco, London, Dubai and Shanghai. At each event, a prestigious panel of independent judges from the international business community chose which five teams would advance to the Global Finals in New York. Those teams that were not selected were given detailed feedback on their business ideas, and encouraged to revise their proposals before resubmitting them to the online round of regional finals. This round was then judged in part by a panel of prestigious international judges, and in part by popular vote on a dedicated website.