CLUB ACTIVITIES
U-CREATE CLUB presents HULTPRIZE
Objective:-
To disclose the topic for the round 1 and rules and regulation of the whole event
About Event (HULT PRIZE):
Hult on-campus selection is done by conducting an event which consists of several teams of 3-4 members each and each team would be put through several rounds and would be judged as per the criteria given by Hult and the team that wins the On-campus round move on to the Regional round and from there continue their journeys forward. The On-campus round can be conducted through online or offline mode whichever is convenient depending on the situation of the current pandemic.
INAUGURATION OF THE EVENT:-
The event was presented by Omer and Abhishek and the HoD and the faculty coordinator shared their precious words with the students who are participants who have actively participated in this event. Followed by the words of the president SumitBhawal who explained the moto of the event to all the participants and the professors.
INTRODUCTION :-
The introduction was given by Abhishek explaining us that Hult is an international organization that inspires young people to come up with ideas that could potentially solve the never-ending list of social issues faced by humanity. This year’s theme is “FOOD FOR GOOD: Transforming food into a vehicle for change”. The theme encourages looking at the current food system with a more sustainable approach – one which is useful for human beings in the long run.
Guidelines to the event:
This event is conducted in 2 Rounds.
RULES:-
These points were explained by Omer
1.The competition is open for undergraduate and postgraduate students.
2.The maximum team limit is four members per team.
3.All team members should be enrolled, students.
4.A student cannot be part of more than one team.
5.No plagiarism of ideas would be entertained.
6.The decisions of the judges are final, including interpretation of the rules and allocation of prizes.
Round 1: Ideation
Participants are required to submit their idea as a seven-slide pitcher.
The seven-slider pitch should contain a brief introduction about the Idea; a Problems Statement (identified), a Literature Survey, a Proposed Method, a Comparison with Existing Methods, and a short business plan.
Submission will be reviewed and judged according to:
Innovation and impact of the idea
1.Market opportunity
2.Implementation of Solution
3.Scalability
4.Business model viability
5.Overall attractiveness of the opportunity
Round 2: Grand Finale
The top 10 team reaches the Grand Finale, where they must pitch their idea in front of the judges. The Teams must prepare for a 10-minute presentation followed by a 15-minute Q&A session by the panel.
Each first-round submission will be reviewed and judged according to:
Idea
•Value Proposition
•Originality, Innovation
•Impact on the big problem
Preparation for Launch
•Target Market, Customer Identification and Segmentation
•Pricing Model
•Core Revenue Model and Supporting Revenue Streams
Execution Plan
•Marketing Strategy
•Sales Strategy
•Scalability
Product/Service
•Differentiation from Existing competition
•User Experience
•Identification and Addressing of Major Risks
CONCLUSION:
This platform is a great platform for all the innovative minds out there who can come along for a noble cause. We are expecting great ideas from the youths on this year’s problem statement “Food for Good”.
