Five students from Cranfield University’s MSc in Management and Entrepreneurship course have won the prestigious Hult Prize Global Summit 2023.
The Hult Prize – named after the Swedish billionaire Bertil Hult – is the world's largest student social entrepreneurship competition, challenging students from more than 120 countries to address global issues through innovative and sustainable business ideas. This year's challenge was to create a socially responsible venture in the clothing and fashion industry which promotes sustainability.
The INNOVIOUS team, consisting of Chenali Bisen, Ksheetij Patel, Dhiyaneshwaran Radhakrishnan, Suci Nurwidia, and Surender Kumar, stood out among 20,000 teams in the qualifiers and made it to the Global Summit, competing against 900 teams from 12 cities worldwide at the event in Tunis, Tunisia, last month.
Their winning idea involved developing biodegradable packaging for fashion to make the industry more sustainable. The team addressed the urgent issue of plastic waste in the fashion industry, which accounts for 20% of the 300 million tonnes of plastic waste produced globally each year, primarily due to single-use packaging. The team's idea stood out for its originality, social impact, and clear alignment with United Nations Sustainable Development Goals.
As winners, INNOVIOUS secured a spot in the Global Accelerator phase and the chance to compete in the Global Finals in Paris, with the opportunity to win $1 million USD to fund their innovative idea. Team members attributed their success to the education and practical experience gained from Cranfield University's MSc in Management and Entrepreneurship programme.
The Global Summit in Tunis provided a transformative experience for the INNOVIOUS team, engaging with industry experts and leaders around the world at the Summit. "The Summit was a pivotal moment for us, as we realized the power of collaboration and collective action. We learned from the diverse perspectives and experiences of other participants, reinforcing our belief that people from different backgrounds and cultures can work together to create a happier and more prosperous future," said Suci Nurwidia, speaking on behalf of the INNOVIOUS team
Dr. Oksana Koryak, Director of the MSc Management and Entrepreneurship programme at Cranfield University, said: "The team’s journey to success is a testament to their unwavering focus, relentless hard work, and the indomitable spirit of entrepreneurship.
“At Cranfield University, we take immense pride in nurturing and supporting our students' achievements. Their victory not only highlights the talent and entrepreneurial mindset nurtured at Cranfield but also underscores the university's commitment to fostering socially responsible leaders who drive positive change on a global scale.”
The global final event will feature the top six teams competing for the ultimate prize, set to take place in Paris in September. Each finalist team will receive $100,000 USD to further develop their ventures, with the winning team awarded $1 million USD.
For more information, please visit www.hultprize.org.
