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IE University students in Shanghai to take part in key competition for young social entrepreneurs

The students, from five different countries, are competing for the prestigious Hult Prize, based this year on a challenge set by Bill Clinton. The winning team will receive a million dollars with which to fund a sustainable startup.

IE University students will be taking part for the second year running in the prestigious Hult Prize, the world’s biggest competition in which students with social entrepreneurial projects compete for a prize of a million dollars.

In last year’s edition of the competition, the IE University team, comprised of business administration students Stefan Wolf Staertzel (Germany), Victor Berthon (France), Pablo Otero (Spain) and Carlos Beltrán (Venezuela/Spain), was among the top 4 teams in the regional final held in Dubai. This year, the IE team has gained two more students,  Mauri Lahti from Finland and Elvira Luna from Spain, and are confident they will also classify in Shanghai, having successfully competed against experts with doctorates, MBAs and Masters to get this far.

The Hult Prize, which has received entries from over 20,000 students from 500 universities around the world, was launched by Hult and the Clinton Global Initiative to foster the development of social entrepreneurship projects in the field of healthcare. The prize affords young entrepreneurs worldwide the opportunity to innovate and change the way society views social initiatives. The teams of students will compete in five cities, working towards the same objective, that of winning a million dollars with which to fund a sustainable startup. The regional finals will take place on March 13 and 14 in the cities of Boston, San Francisco, London, Dubai and Shanghai, the latter being the venue for the IE University team.

The 2015 Hult Prize will be focused on creating startups based on sustainability and finding ways to enable access to child education for ten million children under six years of age who live in the suburbs. In the words of the author of the challenge, former US President Bill Clinton: “The Hult Prize is about more than the solution to the problem, it’s about how the world has to work in the 21st century.”