Home / News / The Million Dollar Startup Challenge: Jacobs University Bremen co-hosts the Hult Prize 2021
The Million Dollar Startup Challenge: Jacobs University Bremen co-hosts the Hult Prize 2021
April 16, 2021
Making the world a better place by promoting sustainable ideas for startups – that is the main idea behind the Hult Prize. For the first time, Jacobs University is co-hosting a regional final of the international competition. A total of 50 startups from Europe, the Middle East, South America and Asia will present their ideas at the online event on April 28, 2021.
The Hult Prize is hosted annually by the Hult Prize Foundation in partnership with the United Nations. The goal is to connect students around the world and help them build sustainable businesses. More than 2,000 startups participate in the competition every year, each with a different theme. This year, under the motto Food for Good, ideas are being sought that will permanently change the food industry and the way we deal with food for the better. Each year, former US President Bill Clinton selects the theme of the challenge and finally announces the winning team in September.
In April 2021, one of the 80 regional finals worldwide will take place at Jacobs University. The winning team then enters the next round, which is then followed by the grand finale. The best idea receives a starting capital of one million dollars. The award ceremony is held annually in September with a grand gala at the Headquarters of the United Nations in New York – to mark the start of the United Nations General Assembly.
Also participating in the regional final is Foodease, a team from Jacobs University. The students have proposed to create a digital marketplace for surplus and perishable food that brings together chefs, food providers, buyers and deliverers.
The main organizer of the Hult Prize Bremen regional final at Jacobs University is Sevan Tro Balian. Born in Jordan and of Armenian origin, he is a third-year student majoring in Biochemistry and Cell Biology. “Bremen is a major cultural and economic hub in Germany – especially for the food industry. I could not be more thrilled to be able to lead and manage such an important virtual gathering of young people here on site at Jacobs University Bremen in April”, he explained his commitment to the international competition, the winning of which is described by many as the Nobel Prize for Students.