Hult Prize inspires student entrepreneurs to solve the world’s biggest challenges through innovative social enterprises with positive global impact. Through our year-long competition, over 100,000 young people in 120 countries work to create high-impact startups that address the annual challenge in alignment with the UN Sustainable Development Goals. Finalists pitch their businesses to a panel of expert judges, and the winning team receives $1M USD in funding to make their idea a reality.
Each year, tens of thousands of college and university students from 120+ countries participate, and since its inception, participants have represented 2,000+ institutions of higher education.
The 2023 Hult Prize Challenge is Redesigning Fashion, with the idea of launching an innovative social venture in the clothing and fashion industry to make it more sustainable by 2030.
Today’s Fashion industry is the world’s third-largest manufacturing sector, contributing $2.4 trillion to the global economy. Over 150 billion articles of clothing are produced each year. Fashion employs 300 million people across its value chain, a sixth of the world’s workforce. Unfortunately, all this comes at a terrible environmental and social cost.