11 Dec 2019 19:13 IST

Team Greenforce are campus winners of 2020 Hult Prize

Team Greenforce: Ayush Shandilya, Ananya R and Shubham Kanhere

Three-member team came up with business idea of mycelium-based packaging to replace plastics

IIM Indore conducted the campus finals of the 2020 Hult prize challenge on December 10, 2019. The 2020 Hult Challenge was “Bold Business idea for a Better Planet”. To respond to the imperative of caring for our common home we need to do nothing less than reinvent the fundamentals of the economy.

In 2020, the challenge to the vast and rapidly-growing Hult Prize community is to replace every industry on the planet with a future, better version of itself. Team GreenForce, which came up with a unique business idea of mycelium-based packaging for replacing plastics, emerged as the Campus-Winners of the 2020 Hult Prize challenge.

Founded by Ahmad Ashkar in 2009, and in partnership with the United Nations, the Hult Prize Foundation is a start-up accelerator for budding young social entrepreneurs emerging from universities around the world. Named as “one of the top five ideas changing the world” by President Bill Clinton and Time magazine, the annual competition for the Hult Prize aims to identify and launch the most compelling social business ideas: start-up enterprises that tackle grave issues faced by billions of people.

The winners receive $1 million in seed capital, as well as mentorship and advice from the international business community. Each of the finalists receives pilot funding along with membership to the Clinton Global Initiative.

The aim of the Hult Prize is to breed the next wave of social entrepreneurs and launch enterprises that can radically change the world. Called the “Nobel Prize for students” by media outlets world-wide, the Hult Prize is offered in partnership with former US President Bill Clinton and the Clinton Global Initiative.