The Higher Education Commission (HEC) and the Hult Prize Foundation (HPF), an annual competition for ideas that address pressing social issues and is known as the Nobel Prize for students, have agreed to collaborate to promote and strengthen social entrepreneurship culture among Pakistani youth.
During a virtual event, Director General Research & Innovation (HEC) Hazrat Bilal and Chief Executive Officer Hult Prize Foundation Lori Van Dan signed a Letter of Intent.
Under the terms of the agreement, the partners will educate adolescents about social entrepreneurship and give them with a platform to tackle the world’s biggest concerns through innovative social enterprise with a positive global impact. This collaboration will raise awareness about the Sustainable Development Goals (SDGs) and empower students at Pakistani universities with opportunities for personal and leadership development.
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It is worth noting that the Hult Prize Foundation runs the world’s largest competition for game-changing entrepreneurial ideas that address a social concern each year. Pakistani students have previously actively participated in the Hult Prize Foundation’s yearly competition, with some even winning. This alliance will provide opportunities for all Pakistani universities to join actively.
Director General Hazrat Bilal stated in his remarks that the relationship will be an exciting opportunity for students at Pakistani colleges and will assist address social challenges faced by the community at large by including enterprise development and entrepreneurship.
Lori Van Dam stated in her remarks that HPF has the second-largest global community in Pakistan and that the country has participated in practically every Hult Prize round each year. She highlighted that the relationship will help to advance Pakistan’s entrepreneurship culture.
HPF’s yearly competition involves several rounds, and the winning team receives a prize money of US$1 million in funding to help them turn their great concept into a reality.
