The Hult Prize Foundation challenges young people to solve the world’s most pressing issues through social entrepreneurship. Each year we challenge university students to create a for-profit social venture, representing a variety of industries that creates a measurable positive impact on people and the planet and supports the United Nations SDGs. This year we are asking you to build a business for “Redesigning Fashion”. The winning team receives $1M USD in funding to make their idea a reality.
- Teams will find everything they need to know about being a Hult Prize Competitor here.
- Students can get inspired and read all about our 2023 Hult Prize Challenge here.
- Students may check their eligibility and read more about being a Hult Prize competitor here.
This year’s challenge is Redesigning Fashion! Fashion needs a serious makeover, and we are challenging students to launch an innovative social venture in the clothing and fashion industry to make it more sustainable. 👗👖👚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.