Sahat Venture Studio, a Riyadh-based venture studio dedicated to cultivating social impact startups, has officially announced its partnership with the Hult Prize Foundation. As the official partner for the prestigious global competition in Saudi Arabia, Sahat Venture Studio will spearhead efforts to bring the world’s largest student social entrepreneurship challenge to the Kingdom, opening the door for local university teams to compete for the grand prize of $1 million.
Unlocking Global Opportunities for Saudi Students
The Hult Prize, often referred to as the “Nobel Prize for students,” challenges young people globally to solve the world’s most pressing issues through social entrepreneurship. Through this strategic partnership, Saudi university students will now have a direct pathway to participate in this year-long competition. The initiative calls on student teams to develop scalable startup ideas that balance profitability with positive, sustainable social impact, aligning with the United Nations Sustainable Development Goals.
Fostering a Culture of Social Innovation
The collaboration aims to accelerate the growth of the social enterprise ecosystem within Saudi Arabia. By connecting local talent with a global platform, Sahat Venture Studio is working to bridge the gap between academic innovation and real-world application. The studio’s role involves facilitating the participation of Saudi teams, ensuring they have the support needed to refine their business models. This aligns with Sahat’s broader mission to mobilize resources and talent to unlock systemic change, empowering innovators to design technologies that address tangible community problems.
The Path to $1 Million
The Hult Prize competition involves over 100,000 students from more than 120 countries annually. Participating teams from Saudi universities will compete against peers from around the globe, pitching their business concepts to a panel of expert judges. The ultimate goal for these entrants is to advance through the competition stages to the global finals, where the winning team receives $1 million in seed funding to launch and scale their social enterprise.
About Sahat Venture Studio
Sahat Venture Studio is a civic and social organization based in Riyadh that cultivates startups driving social change. Aligned with Vision 2030, the studio fosters innovation by launching initiatives that achieve developmental goals and connecting innovators with social entrepreneurs. Sahat provides mentoring, funding, and technical expertise to turn social enterprises into sustainable businesses, filling the expertise gap to promote purpose-driven commercial models.
Source: Sahat Venture Studio
