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Hult Prize accelerator preps competitors for $1m [Boston Globe]

CAMBRIDGE — The problem: finding a high-quality source of protein for hundreds of millions of people that can be raised quickly, without consuming a lot of land, water, and other resources.

The solution: bug farms.

Breeding and raising edible insects is just one of the ideas of six teams of college and graduate students competing for a $1 million prize to tackle one of the world’s biggest challenges: providing nutritious food to a nearly 1 billion people in the developing world without damaging the environment and contributing to global warming.

The prize, financed by the family of Bertil Hult, founder of EF Education First, one of the world’s largest international education firms, will provide the seed money for the winning team to launch a social enterprise to put its ideas into practice.

The teams are winners of regional contests held around the world.

‘If you can make money doing social good, entrepreneurs will chase it.’ —Ahmad Ashkar,  developed the idea for the prize while a student at the Hult International Business School.

They have spent the past six weeks at the Cambridge campus of the Hult International Business School, an institution started and supported by Bertil Hult, honing their business models and pitches for the final round, which will he held in New York next month. The winner will be selected by a panel of judges led by former President Bill Clinton.

By Christina Reinwald Globe Correspondent  August 15, 2013 – Read the full article

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