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PIDE students win National HULT Prize for a poverty-reduction project

Islamabad: (Parliament Times) A four-member team of Pakistan Institute of Development Economics won the National Hult Prize 2018 worth Rs. 5,000,000 in a ceremony held at National University of Science and Technology on Saturday. The team comprised of Hassaan Irfan, Moazzam Bokhari, Muddassir Shah and Anna Khattak.
The Hult Prize is an annual, year-long competition that crowd-sources ideas from MBA and college students after challenging them to solve a pressing social issue. Students of PIDE who have been under the supervision of faculty members from Hult 2016 pitched in an idea to launch a mobile phone application called Pakistan Development Exchange. Through the application people can donate money to poverty-struck areas that have been identified on Google maps.
Teams all over the country participated in the competition of which 15 made it to the semi-final round. Every team was required to pitch a business idea on the theme of “Harnessing the Power of Energy to improve the lives of 10 million people.” PIDE team will represent Pakistan in a pool of 50 teams from around the globe at Hult Global accelerator in the UK. At the accelerator teams will receive a 6 weeks mentorship. The final round will be in UN Head Quarters in New York and the seed money is worth $ 1 Million.

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