Hult Prize Founder: Why Business is Tapping the Crowd
Ahmad Ashkar, CEO and Founder of the Hult Prize is an experienced voice in the arena of Crowdsourcing and Competition. Ashkar is a businessman who did more than envision an idea, he implemented a crowdsourced competition to tackle complex, global social issues.
Ashkar speaks candidly on how businesses can spark disruptive and powerful ideas to benefit their company, and offers guidelines to launch an engaging competition. Equally candid is a warning that to effectively harness the power of the crowd, you have to engage it carefully. Ashkar speaks from experience: over the past four years, he and his team have developed a well-defined set of principles that guide the annual Hult Prize “challenge.”
The article appeared yesterday on HBR blog:
It’s no secret that people in business are turning to the crowd to solve their toughest challenges. Well-known sites like Kickstarter and Indiegogo allow people to raise money for new projects. Design platforms like Crowdspring and 99designs give people the tools needed to crowdsource graphic design ideas and feedback.
At the Hult Prize — a start-up accelerator that challenges Millennials to develop innovative social enterprises to solve our world’s most pressing issues (and rewards the top team with $1,000,000 in start-up capital) — we’ve learned that the crowd can also offer an unorthodox solution in developing innovative and disruptive ideas, particularly ones focused on tackling complex, large-scale social issues. READ FULL ARTICLE
For more from Ahmad Ashkar on the Hult Prize Challenge, view the Bloomberg TV interview here:
Wait! Before you go…
Choose how you want the latest innovation content delivered to you:
- Daily — RSS Feed — Email — Twitter — Facebook — Linkedin Today
- Weekly — Email Newsletter — Free Magazine — Linkedin Group
Mari Anixter is Managing Editor for Innovation Excellence. She is a communications professional, and recently relocated to the Boston area.
NEVER MISS ANOTHER NEWSLETTER!
LATEST BLOGS
How eco-friendly is the production of bikes and e-bikes in comparison to cars?
Photo by Himiway Bikes on Unsplash We are all well aware of the benefits cycling can have, both on our…
Read MoreThree things young people should know about apprenticeships
Photo by Mars on Unsplash Times are changing for young people after they leave school. Once, no one went to…
Read More
WOW… I’m really happy about the contents found in here. I applaud and appreciate the information found in here and yeah… This contributes drastically to our success in life.. God bless all the operators of this organisation..! #thumbs up#