Foley Hoag to Mentor Entrepreneurs Tackling Global Hunger in $1 Million Global Hult Prize
July 8, 2013
Foley Hoag welcomes young entrepreneurs from around the globe to Boston as participants in an international challenge for $1 million in seed capital to develop ideas for combating world hunger.
Foley Hoag is the official legal mentor for teams competing for the 4th annual Hult Prize, the world’s largest social entrepreneurial competition. Nobel laureates, former U.S. President Bill Clinton, and EF Education First founder Bertil Hult, who donates the seed capital, are among the competition’s supporters.
More than 10,000 students across the globe vied for the opportunity to be on the six teams that will contend for the $1 million seed financing. The prize will be awarded at the 2013 Clinton Global Initiative Annual Conference this fall. New this year, the six teams will be mentored in a seven-week Hult Accelerator program at the Boston campus of the Hult International Business School.
The teams will move through a program that takes them from idea to prototype in preparation for the Clinton Global Initiative meeting in September. A panel that includes Nobel laureates and former President Clinton will select the winner. Foley Hoag lawyers will provide legal education to the entrepreneurs through a series of seminars and one-on-one guidance on topics such as: corporate formation and structure; preparing for funding; intellectual property; and the legal aspects of operating a global business.
“The Hult Prize is social entrepreneurialism’s version of the Nobel Prize,” said Foley Hoag partner Gil Arie, co-chair of the firm’s technology practice and an active supporter of U.S. and international entrepreneurial initiatives. “Over the last three years it has tackled some of the world’s most pressing social issues. We’re honored to be at the forefront of educating students on the legal issues they must learn to take their world-changing ideas and make them reality.”
Founded by Hult International Business School alumnus Ahmad Ashkar, the Hult Prize has been recognized by President Clinton and TIME Magazine as one of the top five ideas for changing the world. The Hult Prize partnered with President Clinton’s Global Initiative to create the next wave of social entrepreneurs by identifying, funding, mentoring, advising and launching new social businesses.
About Hult Prize
The Hult Prize is a start-up accelerator for social entrepreneurship which brings together the brightest college and university students from around the globe to solve the world’s most pressing issues. The annual initiative is the world’s largest crowd-sourcing platform for social good. The Hult Prize has been funded by the Hult family since its inception in 2009. To learn more, visit www.hultprize.org.
About Foley Hoag LLP
Foley Hoag provides innovative, strategic legal services to public, private and government clients across the globe. We have premier capabilities in the life sciences, healthcare, technology, energy, professional services and private funds fields, and in cross-border disputes. The diverse backgrounds, perspectives and experiences of our lawyers and business services professionals contribute to the exceptional service we deliver to clients ranging from startups to multinational companies to sovereign states. For more information, visit www.foleyhoag.com or follow @FoleyHoag on Twitter.