Before formally entering the EF Hult Prize competition on your campus or applying through the open application, there's a few things you must prepare. We've provided a roadmap to get you started. It's not a rulebook, so customize your approach as you see fit! If you already have a team, jump straight into ideation. If you already have a business, refine your plan and sharpen your pitch.
Step 1: Choose an area of impact or problem to solve
To excel in the EF Hult Prize competition, you need a business idea you are passionate about. Your concept must tackle a significant problem while creating positive, meaningful, and measurable impact. It must must align with one or more of the United Nations Sustainable Development Goals (SDGs) to qualify.
Watch our Design Thinking & Social Entrepreneurship and SDGs & Impact Measurement modules on the EF Hult Prize Digital Learning Hub to help you choose an area of impact or problem to solve.
Step 2: Build your team
Create a team of two to four students who are also passionate about solving the world's most pressing problems and creating lasting impact through a venture you truly believe in. Check out our Terms & Conditions for more details regarding eligibility.
Watch our Building Effective Teams module on the EF Hult Prize Digital Learning Hub to help build your dream team.
Step 3: Develop your business idea using human-centered design
Human-centered design connects your theories and ideas to the realities of your audience through user research, prototyping, and continuous feedback. From startups to global leaders, organizations use it to innovate, optimize, and grow.
Watch our Design Thinking module on the EF Hult Prize Digital Learning Hub to develop your business idea through the process of human-centered design.
Step 4: Develop your business plan
A great idea is not enough to win the EF Hult Prize and change the world. You also need to dig in and create a cohesive plan that demonstrates your ability to build a sustainable, profitable, and impactful business.
Watch our Business Fundamentals and Marketing & Go-To-Market Strategy modules on the EF Hult Prize Digital Learning Hub to help build your business plan.
Step 5: Create your pitch
Once you have a great idea and a strong business plan, you need to summarize them into a compelling pitch. Your pitch is key to excelling in the EF Hult Prize competition and winning the grand prize.
Watch our The Art of Pitching module on the EF Hult Prize Digital Learning hub to perfect your pitch and communicate with impact.
Step 6: Entering the competition
Before you and your team can compete for the $1M USD EF Hult Prize seed funding, you need to advance through all five stages of the year-long competition.