Requesting for funds

Written by Tadiwanashe Tracey Makamure

Last published at: September 3rd, 2026

Table of Contents

Step 1 Step 2 Step 3 Step 4 Step 5 Step 6

Each winning team will only be able to request funds via the invoice system and fulfil all the required submissions.

How long does it take?

We highly suggest you plan and fill out the milestones reporting form at least one month ahead before sending the invoice, as back-and-forth edits are very common. The invoice payment will take approx. 15-30 working days (after we have received the correct submission via email) for EF Hult Prize to process and execute the invoice internally before payment execution.

If the payment has been delayed for more than 15-30 working days after you officially submit it via email, you can follow up with the portfolio team via your startup Slack channel. We’ll check the payment status and progress for you.

Here's a step-by-step on how to create your invoice:

Step 1

Fill out the milestones reporting form in advance before you request the next tranche of funds. The portfolio team will review your response once you have informed them.

 
 

Step 2

“Make a copy” of the invoice template

  • Move it to your startup folder to edit
 
 

Step 3

Fill out your information correctly:

  • Company logo
  • Company name
  • Address
  • Contact
  • Company email
  • A representative email for contact
  • Invoice No. (Make sure that this number is different for every invoice. Eg: 001, 002, 003)
  • Invoice date
  • Detailed description - breakdown of expenditures
  • Unit number
  • Cost per unit in USD (only)
  • Amount in USD (only)
  • Invoice subtotal in USD (only)
  • Total amount in USD (only)
  • Bank name
  • Branch address
  • Account holder (company bank account)
  • Account number (company bank account)
  • Wire transfer number: if applicable (if not, delete)
  • Bank code (SWIFT/BIC): If applicable (if not, delete)
  • Routing number (ACH or ABA): if applicable (if not, delete)
  • Check with your local bank if additional bank details from your local bank that we need to execute international transactions if we have not covered above. If have you must add.
  • Do NOT change the “Bill To:” info
    • Hult International Business School AG
    • CH263.1689.UPCO.SWW.PWW.CMKMHG3.0.0.0
    • Selnaustrasse 30, 8001 Zürich, Switzerland
 
 

Step 4

It is important to make sure you create an invoice using the correct format and details to avoid lengthy review procedures, transaction delays and payment bounces. 

Find out what to include in the invoice PDF?

 
 

Step 5

Review the invoice & updated business proposal with your portfolio coordinator for a final check

  • Upload and hyperlink the invoice to your invoice & due diligence checklist in your startup Google folder. Inform the portfolio team via Slack for review and we hope to get back to you within 2-4 working days.
  • Once given green light to submit for processing, proceed to the next step.
 
 

Step 6

Official Invoice submission

  • Send an official email to portfolio@hultprize.org, CC Narisa only.
    Do not CC Lori or Hamdi
  • Attach the following document submissions every time you request funds:
    1. The complete PDF version of the invoice with bank details attached, and with milestones breakdown. See the section below.
    2. Updated business proposal
    3. Signed & updated disbursement request form (Schedule 2 & 3) - Only for 2021 Winners
 
 

Remark:

  • Transaction delays may occur after the payment execution. Please follow up with your local bank.
  • EF Hult Prize financially covers the transaction fee from our side. If you have been charged, that is under the receiving bank.

 

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