YABATECH advances to regional finals of $1mn annual Hult Prize

In response to the United Nations charge to, “develop an idea to provide meaningful employment for 10,000 youth in the next decade”, the winning team from the campus final at Yaba College of Technology has advanced to the 9th annual regional finals of the competition, where the final winner stands to win a $1million prize.

Members of the winning team from Yaba College of Technology include; Ajasa Solomon, Ajayi Michael, and Oseni Kamaldeen, based on their solution to this year’s challenge to create employment for 10,000 young people. Their solution aims to create employment through the production, and sales of Biodiesel. The team will in March, compete at the Regional final in Abuja, one of 25 cities hosting the regional finals around the world.

Ahmad Ashkar, CEO and Founder of Hult Prize, attributes the success of the competition to the global youth revolution. He said, “We continue to be moved by the large number of students from around the world, who are capitalizing on the opportunity to develop business models that target those who are in most need. We wish every team the best of luck and thank Yaba College of Technology for supporting this initiative”.

On his part, Abdulmu’min Edidi, campus director for the Hult Prize contest at Yabatech said, “Improving the world is not about who you are, but the depth of your thought, coupled with your courage to establish your thought.”

Following the regional contests, one winning team from each host city will advance to an intensive 8-week summer business incubator, where they would receive mentorship, advisory and strategic planning as they create prototypes and set up to launch their new social business. The final round of the competition would take place in September, where a jury panel will select the Hult Prize winner, and present USD 1 million to the winning team.

“The Hult Prize is a wonderful example of the creative cooperation needed to build with shared opportunity, shared responsibility, and shared prosperity, and each year I look forward to seeing the many outstanding ideas the competition produces” stated Bill Clinton, 42nd President of the United States, in a statement.

The Hult Prize is a crowd sourcing platform for social good, named one of the top five ideas changing the world by TIME magazine. The innovative crowd-sourcing platform identifies and launches disruptive and catalytic social ventures that aim to solve the planet’s most pressing challenges.