HEC will award a $1 million Nobel Prize to entrepreneurially minded students

 by web desk

dated 15/09/2023

Islamabad

HEC will award a $1 million Nobel Prize to entrepreneurially minded students

The Higher Education Commission (HEC) and the Hult Prize Foundation (HPF), an annual competition for ideas addressing pressing social issues and referred to as the Nobel Prize for students, have agreed to jointly take steps to promote and strengthen the culture of social entrepreneurship among Pakistan's youth.

HEC will award a $1 million Nobel Prize

In this context, Research and Innovation Director General (HEC) Hazrat Bilal and Hult Prize Foundation CEO Lori Van Dan signed the letter of intent during a virtual ceremony.

Under the LoI, the partners will provide young people with the opportunity to gain social entrepreneurship education by offering them a platform to tackle the world's biggest challenges through innovative social entrepreneurship with positive global impact. Through this collaboration, awareness of the Sustainable Development Goals (SDGs) will be raised and students in Pakistani universities will also have opportunities for personal and leadership development.

It is worth mentioning that the Hult Prize Foundation annually organizes the world's largest competition for business ideas that change the game and solve a social problem. Pakistani students have actively participated in the Hult Prize Foundation's annual competition in the past, with some winners among them. This collaboration will pave the way for all Pakistani universities to actively participate and learn from the experience.

In his remarks, Director General Hazrat Bilal said that the collaboration will prove to be an exciting opportunity for students of Pakistani universities and will help address social issues faced by the community as a whole by incorporating business development and entrepreneurship.

In her remarks, Lori Van Dam said that HPF has the second largest global community in Pakistan and the country actively participates in almost all rounds of the Hult Prize every year. She reiterated that the collaboration will help deepen the entrepreneurial culture in Pakistan.

The annual HPF competition has different rounds, and after a rigorous process, the winning team is awarded $1 million in prize money to turn their big idea into reality.