Free Press Journal

Indore: One million dollar start up challenge held at IIM-I


Indore: HULT Prize@Campus— the one million dollar start up challenge was organised at Indian Institute of Management-Indore lately. Gaurav Mandan (PGP 2015-17) outshone others and was selected as the campus director.

The event is the world’s largest student competition for social entrepreneurship. Known as the ‘Nobel prize for students’ by media outlets world-wide, the HULT prize is offered in partnership with former US president Bill Clinton and the Clinton Global Initiative. A challenge topic is announced every year and the winners are announced in the month of September. The issue addressed this year was—Reawakening Human Potential: The Refugee Opportunity.

“The winners of the competition receive $1 million in seed capital, as well as mentorship and advice from the international business community. Each of the finalists receives pilot funding along with membership to the Clinton Global Initiative. It is hosted and supported by HULT International Business School, and generously funded by Swedish entrepreneur Bertil Hult,” said Akhtar Parvez, media incharge of IIM Indore.

The first step to the entire process is selection of campus director, which involved the applicants to go through an interview process. Campus director plays a critical role in the overall HULT prize experience. Each campus director officially represents the HULT prize organisation. Rigorous campaigns were used to create awareness about the event in the campus. The competition comprised of 2 rounds.

The campus round witnessed a lot of applications which were judged by experts from the areas of organizational behaviour, International HRM, qualitative inquiries from a post structural frame with informal economy workers, refugees, temporary workers and workers with formal employment contracts. The judges gave the participants valuable feedback on the feasibility and sustainability of their ideas and the role it would play in the longer run in order to solve the said problem.

While Gaurav Mandan was selected as the campus director, team Avant Garde consisting of Mahendra Mohan Das, Ritika Maheshwari, Krishnendu Babu and Kriyanshi Aggarwal from PGP 2015-17 batch emerged as winner of the competition. The first runners-up position was secured by the team Perfect Plot consisting of Payal Jain, Abhishek Jha, Rahul Sundeep and Jay Megotia of PGP 2015-17 batch. The second runners-up were team Refuge consisting of Aayush Khurana, Atirek Rajpal, Pallavi Gupta and Utsav Mahto of PGP 2016-18 batch.

Team Avant Garde bagged the opportunity to represent IIM-I in national finals to be held in Delhi in January 2017, which when qualified will give them a chance to the next international regional finals round which will take place in Dubai, Boston, London, Shanghai and San Francisco.